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More Trouble For Nigerian Scholars Abroad As FG Reduces Monthly Stipend By 56%

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More Trouble For Nigerian Scholars Abroad As FG Reduces Monthly Stipend By 56%—-The Federal Scholarship Board (FSB) has announced a significant reduction in the monthly supplementation allowance for beneficiaries of its Bilateral Education Agreement (BEA) with foreign countries, cutting it by 56 percent.

Nigeria’s BEA scheme, a student exchange programmr, includes partnerships with various countries in Africa, Europe, North America, and Asia.

Notable countries involved in this agreement include Russia, China, Hungary, Morocco, Venezuela, and Algeria.

These host countries typically provide annual scholarship slots to the FSB, which then nominates eligible Nigerian students based on merit.

While the host countries cover tuition and housing, Nigeria contributes a yearly allowance of $200 for health insurance, $500 for medical expenses, and a monthly stipend of $500 for nutrition, books, equipment, and transport.

Recently, Nigeria defaulted on paying the $500 monthly stipend for a full year, leaving many students stranded abroad. This issue prompted the National of Assembly to summon the Education Minister for an inquiry, but the stipends remain unpaid as of now.

In a letter dated July 23, the FSB announced a reduction of the monthly allowance for BEA students to $220, down from $500. This letter was signed by Astra Ndajiwo, the director of the board.

In 2023, there were at least 1,532 active BEA beneficiaries, and N6.8 billion was allocated for these scholarships in 2024, based on an exchange rate of N800/USD. However, the exchange rate has since risen to over N1,600, creating a financial shortfall that the federal government has yet to address.

The FSB explained that the reduction was necessary due to the unfavorable domestic exchange rate, which has made it challenging to maintain the original stipend amounts as specified in the award letters given to students.

“The prevailing situation concerning the domestic exchange rate in Nigeria makes it difficult to sustain the payment of BEA allowances as contained in the award letters issued at the point of departure,” the FSB said.

Ndajiwo assured that the stipends for 2023 and 2024 would be paid once the funds are made available by the federal government.

According to a report by The Cable, the additional challenges faced by Nigerian BEA students, include limited student lodging options at destination universities.

Many students are forced to rent apartments for $200 to $300 per month, significantly depleting their stipends. Some resort to squatting with foreign nationals, working menial jobs, seeking aid from non-profits, or even begging for alms to survive.

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Imperfectly Awesome Conversations Summit (IAC) 4.0 set to ignite transformational dialogue on May 3, 2026

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Imperfectly Awesome Conversations Summit (IAC) 4.0 set to ignite transformational dialogue on May 3, 2026

 

The fourth edition of the Imperfectly Awesome Conversations Summit is set to take center stage on Sunday, May 3, 2026, at the MUSON Centre, Lagos. Building on the growing momentum of previous editions, this year’s summit signals a deliberate and powerful shift from inspiration to activation with a structured intervention aimed at reshaping how individuals navigate identity, adversity, and personal growth in an increasingly demanding world.

 

Accordingly, IAC 4.0 is positioned as a catalytic platform designed to challenge existing narratives, provoke deeper thinking, and ultimately drive a new paradigm across leadership, personal development, and the broader communications ecosystem.

 

Convened by renowned marketing and communications leader, Omotola Bamigbaiye, the Imperfectly Awesome movement has steadily evolved from a deeply personal literary expression into a dynamic, living experience. Initially birthed through her book, Imperfectly Awesome, the initiative has, over time, transformed into an influential annual convergence where authenticity takes precedence and real-life journeys redefine success.

 

By centering the message of “being enough,” the summit challenges limiting narratives that hinder innovation, leadership, and inclusive progress. The summit will deliver two high-impact panel sessions:

  • Resilience & Tenacity — examining how individuals and organizations can sustain performance and purpose amid disruption
  • Authenticity: Embracing Your Whole Self — exploring the role of self-awareness and identity in effective leadership and lived experience

Additionally, a maiden edition of IAC awards to recognize and spotlight individuals and organizations whose journeys exemplify courage, consistency, and meaningful societal impact.

As anticipation intensifies, attention increasingly turns to the calibre of speakers confirmed for this year’s edition, these are individuals whose personal and professional trajectories reflect resilience, leadership, and transformative impact.

Leading the conversation will be Dr Segun Ogunsanya , Chairman Airtel Africa Foundation and  Mrs Godrey Ogbechie, Group Executive Director, Rain Oil Limited.  Additionally, Hon Mojisola Meranda, Deputy Speaker of the Lagos State House of Assembly, Moremi Ojudu, Senior Special Assistant to the President on Community Engagement (South-West), O’tega Ogra, Senior Special Assistant to the President on Digital Engagement and New Media,  Dr Folayinka Dania, Chief Resilience Officer for Lagos State and CEO of the Lagos State Resilience Office, Princess Sarah Sosan, Former Deputy Governor of Lagos Sate and others whose presence is expected to bring strong perspectives on governance, inclusion, and purposeful leadership. Furthermore, panelists will offer critical insights into grassroots connection, deepen discussions around adaptability, systems thinking, sustainable leadership in uncertain environments. Citizen engagement, and the power of community-driven change.

Collectively, these speakers will not only share success stories; rather, they will unpack the realities behind those successes, moments of doubt, setbacks, recalibration, and eventual triumph. Consequently, attendees will engage with narratives that are honest, unfiltered, and deeply human, thereby reinforcing the summit’s core philosophy, which is, that imperfection, when embraced, becomes a powerful driver of growth.

Moreover, the 2026 edition introduces a sharpened thematic focus centred on courage over comfort, consistency over perfection, and action over Fear. Through this lens, the summit will actively encourage participants to move beyond passive inspiration and instead adopt deliberate, actionable mindsets capable of reshaping both personal and professional trajectories.

Attendance remains open to the public and notably, participation is free.

Interested individuals are encouraged to register via the official links:

[https://luma.com/5r5s19u9](https://luma.com/5r5s19u9)

About Imperfectly Awesome Conversations

Imperfectly Awesome Conversations is a purpose-driven platform inspired by Dr. Omotola Bamigbaiye’s work and philosophy. It is dedicated to fostering authenticity, resilience, and personal transformation by creating spaces where people can share their journeys, embrace their stories, and realize their inherent worth.

IAC 4.0 is deliberately designed to:

  • Amplify underrepresented voices and lived experiences often excluded from mainstream narratives
  • Promote practical inclusion as an everyday responsibility across workplaces and communities
  • Advance mental well-being conversations by normalizing vulnerability and self-acceptance
  • Encourage actionable change, equipping attendees to translate insights into personal and professional impact

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Alpha Morgan Bank Reinforces Commitment to Education at Redeemer’s University Business School Commissioning

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Alpha Morgan Bank Reinforces Commitment to Education at Redeemer’s University Business School Commissioning

Alpha Morgan Bank has reaffirmed its commitment to education and institutional development through its support for the commissioning of the Redeemer’s University Business School.

 

The Business School was officially inaugurated by Pastor (Mrs.) Folu Adeboye, at the commissioning ceremony attended by distinguished guests including Her Excellency, Mrs. Bola Obasanjo; the Pro-Chancellor and Chairman, Governing Council of Redeemers University, Professor Oluwatoyin Ogundipe; the Vice Chancellor, Professor Shadrach Olufemi Akindele; and other notable dignitaries.

 

Speaking at the event, the Managing Director of Alpha Morgan Bank reiterated the  Bank’s commitment to supporting institutions that drive intellectual growth and national development.

 

As part of its broader focus on knowledge sharing and thought leadership, Alpha Morgan Bank will host its Economic Review Webinar in May 2026, bringing together experts to share insights on key economic trends and opportunities.

 

The Bank’s involvement reflects its continued dedication to empowering institutions and shaping the future of business and leadership in Nigeria.

 

 

Read more about Alpha Morgan Bank on www.alphamorganbank.com 

 

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