The President of Alex Otti Foundation, Dr. Alex Otti, granted thirty-two undergraduates resident in Abia State, scholarship of #4.8 million.These undergraduates are studying in various universities in different parts of Nigeri,and each of the students would receive N150, 000 yearly throughout their studies as long as they meet the minimum CGPA required or the scholarship.
Speaking at an event in Umuahia, the Abia State capital during the handing over of cheque dummies to the benefitting students, the project financier, Dr. Alex Otti, former MD of Diamond
Bank said that the essence of the project was to promote hard work among students.
Otti, who was the 2015 and 2019 gubernatorial candidate of the All Progressives Grand Alliance (APGA) said that the event doesn’t have any political undertone, stressing that the list of the beneficiaries was purely based on merit.
He said the foundation is planning to support recipients beyond their first degrees if they meet the benchmark for such assistance.
“The Alex Otti Foundation is an army of young men and women. There is no nook and cranny of the state that you don’t see our people supporting businesses and entrepreneurship, agriculture and education.
“The awardees went through a process that started with 100 of people and 32 emerged victoriously.
“Thirty-one persons actually met our cut-off mark, but when I discovered that the 32nd person missed the cut-off mark with just a point, I felt that she should be included and that is why 32 persons are going to be benefitting from the scheme today.
“I didn’t know any of you and haven’t met any of you before, and I didn’t even know the 32nd person. But one thing that I know is that she is a lady,” he said.
Otti, who said the scholarship would run for 10 years, informed the audience that he had to sell one of his properties to ensure that there was enough money to fund the project.
Earlier in his speech, the Executive Director Alex Otti Foundation Ekeke Chinedu said the students were exceptionally brilliant children from indigent homes whose parents may not be able to afford funding their studies.
He disclosed that the foundation is also planning to reach out much later in the year to individual with skills, but needed funds to boost their businesses or develop their business ideas.