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Stanbic IBTC Pension Managers donates N100m to renovate Yaba Psychiatric Hospital Ward



Stanbic IBTC seeks to raise N550 billion through rights issue and debt placement

Stanbic IBTC Pension Managers donates N100m to renovate Yaba Psychiatric Hospital Ward


In a significant display of corporate social responsibility, Stanbic IBTC Pension Managers, a subsidiary of Stanbic IBTC Holdings and a leading pension fund administrator in Nigeria, has renovated the Yaba Psychiatric Hospital Ward MS/F3 in Lagos, which includes female and male wings, as well as offices for medical personnel and a recreation area for the patients. The initiative, part of the company’s corporate social investment (CSI) programme, aims to enhance patients’ living conditions at the renowned psychiatric facility.

The management of Stanbic IBTC Pension Managers announced the completion of the project during a hand-over event held in Lagos on Wednesday, 13 March 2024, at the premises of Yaba Psychiatric Hospital.

The comprehensive renovation project totalling 107,857,474.75 million Naira included the installation of hospital beds, air conditioners, fans, refurbished kitchens with refrigerators and cooker units; toilet seats with sinks and soap dispenser units; bathroom stalls with showers and water heaters; load cables, refurbished nurses’ stations with swivel staff chairs, tables, cabinet racks; air conditioners, sinks with soap dispenser units; water tanks with a pumping machine unit, and bedside lockers for hundreds of patients who visit these wards annually. Two (2) 40-inch LED LG TV were also provided and installed to entertain patients during their rest periods.

During the hand-over ceremony, Olumide Oyetan, Chief Executive of Stanbic IBTC Pension Managers, reiterated the company’s commitment to community development and improving the lives of others. He said, ‘one of our three CSI pillars is health because as an organisation that is committed to the long-term sustainability of Nigerians, we believe that investments in health must be frequent and sustained. Understanding the pain of persons dealing with mental health challenges in our country, we embraced this opportunity to support the hospital management in creating an enabling environment that will enhance care and speed up recovery of the patients experiencing this challenge.’

Nike Bajomo, Executive Director of Business Development at Stanbic IBTC Pension Managers, expressed gratitude to all partners and stakeholders who contributed to the project’s success. Nike stated: “Today is very emotional for us as it marks the realisation of this dream that we pictured several months ago when we first embarked on this project. Our sincere thanks goes to each and everyone who supported us on this journey, including our management team who bought into the vision; the hospital management who guided the execution; the team who did the groundwork; and of course all our partners here today to share this moment. We look forward to the thousands who will be cared for in this hospital in the coming years, and commit to doing more to support the wellness of Nigerians, because Nigeria is our home and we drive her growth.”

Hospital staff expressed excitement about the renovated wards and their potential to impact patient care and recovery positively.

The handover ceremony witnessed the presence of representatives from Stanbic IBTC Pension Managers, the management of Yaba Psychiatric Hospital, esteemed guests, and hospital patients.

Stanbic IBTC Pension Managers’ remains committed to helping Nigerians enjoy the extraordinary life, while young and at retirement, and this is just one of the ways that the company enables this vision.

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