The objectives include 

• To enhance the overall academic excellence through research.
• To complement the Federal Government’s efforts in the development and advancement of   tertiary education in Nigeria. 
• To strengthen the Bank’s corporate responsibility & sustainability strategic approach through its Education strategic pillar.
• To contribute to the building and reinforcement of the First Bank brand value proposition.

The FirstBank Endowment programme is designed to be permanently restricted. This means that the seed funds or principal sum established in different schools must be held in perpetuity and cannot be spent but should be aimed at generating income to fund the different projects and meet the objectives.  

To efficiently actualise the objectives, the programme is governed by a board of trustees in each school consisting of a Chairman who is Vice Chancellor; members from the various universities and the Bank. The programme is structured to provide an annual research grant; annual public presentation of research findings; and annual award for the three best graduating students in the particular field of focus. The programme is most active in Federal University of Technology (FUTA) where it has consistently continued its commitment to the goal of meritorious contribution to knowledge through research activities in the communication and technology sector.