BY MICHAEL EBOH
United Bank for Africa, UBA, Plc, through its Corporate Social Responsibility arm, UBA Foundation has concluded arrangements to invest in human capital development in Nigeria and other countries in Africa.

Speaking during the launch of the UBA Foundation National Essay Competition, in Lagos, Managing Director, UBA, Mr. Philips Oduoza, represented by Mr. Kennedy Uzoka, Deputy Managing Director designate, said the bank is aware that in order for it to grow, it needs talents that are properly groomed to handle critical issues in the course of their lives.

According to him, the bank has come to the realization that its talents are the strength of the bank and that no amount of investment in its human capital can be seen as too much or unwarranted.

To this end, he said the bank has decided to invest in the development of education in Nigeria, especially with the commencement of a number of initiatives in this regard in the last couple of months.

Oduoza noted that the bank has decided to pursue educational development with significant investment in critical segment of the educational sector, especially in nurturing young school children.

He said the new initiative — the Essay competition, is part of its corporate social responsibility and is designed to cater for the educational needs of bright young scholars.

He explained that winners of the competition, which is opened to only students of secondary schools in Nigeria, will have UBA as their life guardian, with the bank providing for their educational needs throughout their stay in any Nigerian universities whenever they secure admission to further their studies.

According to him, winners will be expected maintain a consistent and impressive academic performance if they are to remain beneficiaries, adding that it they drop below the required academic requirement, they will be cut off from the benefits.

The idea behind it, he said, is to ensure that the students do not become lackadaisical and distracted in their academic pursuit.

Also speaking, Miss Ijeoma Aso, Managing Director/Chief Executive Officer, UBA Foundation, said the bank plans to conduct the essay competition across the Africa continent, but is starting it in Nigeria due to the pivotal role played by Nigeria in the continent.

She explained that students who wish to participate in the competition are expected to submit at the head office of the bank, a 750-word long essay about themselves and their career, on or before October 31, 2011.

She said the essays will be vetted and judged by three renowned professors from three higher institutions in Nigeria, who will then pick the winners.