Intercontinental Bank takes corporate social responsibility seriously. It leads the business community in support of two focus areas, education and health. Essentially, the driving philosophy and objectives of our bank’s corporate social responsibility are to affect lives of citizens and spur sustainable economic development in the societies we operate in.
The Bank is also committed to boosting infrastructure in its areas of operation and focuses on assisting the three tiers of government in bringing meaningful development and upliftment of standard of living of the citizenry.
It has therefore spent millions of naira in rehabilitating several public roads particularly in Lagos State. In the last 16 years the bank has also carved a niche for itself as leader in the business community, in the area of social investment.
Education Sector
The bank has in the last 11 years, been running annual scholarship awards for customers of its immensely popular Intercontinental Diamond Fund (IDF) product. It has also extended the scholarship scheme to customers of its Intercontinental Premium Savings Account (IPSA) product. It has equally committed over N20 million to its ambitious State Scholarship Scheme. Currently, 300 students from six states namely Bayelsa, Edo, Kwara, Anambra, Ekiti and Kogi States are enjoying an annual scholarship worth N50,000 each.
Hostels
The bank has built and donated ultra modern, multi-floor hostel complexes for thousands of students in Nigerian universities. In 2004, the Bank built a 60-room 240-bed space hostel valued at 30 million at the University of Benin. Only recently it commissioned two multimillion naira ultra-modern hostels at the University of Lagos and Bayero University, Kano respectively. Our bank has also built and donated a classroom block to Edo State Primary Education Board.
In 2005, the Chairman of the bank, Dr. Raymond Obieri singlehandedly built and equipped a computer complex worth over N30
million at the University of Nigeria, Nsukka. He recently donated a N30 million ultra modern storey building to Nnamdi Azikiwe University, Awka.
Likewise the Vice Chairman/Chief Executive of our bank, Dr. Erastus Akingbola donated a N70 million postgraduate hostel to the University of Lagos. There is also the N40 million auditorium at Michael Ajasin University, Akungba-Akoko, Ondo State and a hostel complex at Ladoke Akintola University of Technology Ogbomosho. Dr. Akingbola is also building a lecture complex worth N30 million at the University of Calabar.
Health Sector
The bank built the casualty ward of the Orthopaedic Hospital, Igbobi, Lagos at a cost of N30 million in 2000 and is committed to regular renovation of the ward.
It has also spent millions of naira in direct assistance and donations for major surgical operations/critical healthcare problems to scores of Nigerians.
Infrastructure Development
The bank rehabilitated the Danmole Street Road, which was in poor state, in Victoria Island, Lagos at a cost of N20 million. It rehabilitated the major Ligali Ayorinde Road in Victoria Island at N20 million; rebuilt the busy Mazamaza-Ojo Road, Lagos at a cost of N10 million and equally rebuilt the Oju Olobun Street in Victoria Island, Lagos at a cost of N50 million.