A scholarship scheme was instituted by the Foundation in 2005 with an endowment of $10,000 by Chief Arthur Mbanefo CON, MFR, FCA. Thereafter, Chief (Mrs) Opral Benson OON, MON in 2006 and Chief Joop Berkhout OON in 2007 have supported the scheme. Through scholarships and grants, the Ben Enwonwu Foundation supports research, exhibitions and publications that foster innovative and scholarly artistic expression. So far, there are six recipients of the award for the most outstanding 2nd Year Visual Art Student in tertiary institutions namely:
- Henry Egware, University of Lagos (2005)
- Silverbrains Ebhodaghe Asowa, Yaba College of Technology (2005)
- Kolawole Timothy Oladotun, University of Lagos (2006)
- Olayinka Emmanuel Akinremi, Yaba College of Technology (2006)
- Norvina Kelvin Saturday, Obafemi Awolowo University, Ile-Ife (2007)
- Zuman Moses Sekuk, Ahmadu Bello University, Zaria (2007)