.Unveils N60m professorial chair in finance award for research
Nume Ekeghe and Oluchi Chibuzor
The United Bank of Africa(UBA) Plc has unveiled a renovated four story business office and innovation hub centre at the University of Lagos( UNILAG) to cater to its teeming 80,000 customers within the branch.
This is as the bank equally opened its innovation hub that is aimed at driving ideas and research through its UBA Professorial Chair in Finance Research award.
Speaking at the opening of the UBA Innovation Hub and Business office in UNILAG, yesterday, the Group Managing Director(GMD) of the bank, Oliver Alawuba, said the edifice is a testament to what Industry and Academia can achieve together for the prosperity of the nation.
According to him, “It is indeed an honour for me today to stand before you at the commission of this UBM branch. This is a landmark project that speaks of the partnership between innovation and education. And shared belief between UBA and the university.
“It is a renewal of our relationship with UNILAG, which we entered for decades now. Like the VC mentioned, in 1969, we were the first bank to open a branch in this university.
“And today, that branch has over 80,000 customers. And that represents the shared trust that the school has in us and the friendship that we have built. This edifice, I don’t want to say the value but if you look at it, it is worth billions. And we believe it is the right investment.
“Because we are investing in Africa’s future which shows the confidence that we have in this university. Yes, indeed, we use 48 per cent and the University of Lagos, will use 52 per cent. But the most important thing is that we are collaborating. And the partnership will extend beyond just having the building.”
However, the Bank also announced a N60 million Professorial Chair in Finance Research award as part of giving back and driving the relationship between industry and academia.
According to him, the UBA Professorial Chair in Finance, a university endowment will foster high-level financial research and deepen collaboration.
“As part of our commitment to this institution and driving research we are announcing a N60m donation for the UNILAG professorial chair in Finance Award to support research,” he said.
On her part, the Vice Chancellor of UNILAG, Professor Folasade Ogunsola, said that the event affirmed something she has always believed, that the enduring development of the university and the nation is not achieved by government alone, but through genuine, structured, and visionary partnerships between academia and industry.
“That such an institution chose the University of Lagos as its first campus home is a source of tremendous pride. And today, as we commission this new building, a permanent purpose-built structure befitting the relationship between two iconic institutions, we are not starting a new chapter. We are deepening one that has been building for decades.
“This is a structure that is both a banking facility serving our vibrant campus community and a purposeful contribution dedicated to academia. This building is not just about brick and mortar, but it is a symbol of what industry and university partnership looks like,” she said.
For the Chair Occupier, UBA Professorial Chair in Finance, Professor Adedoyin Lawal, he commended the bank for reviving the endowment fund.
“Well, the chair occupier has four mandates. One, visibility drive, which entails research. Two, mentoring, that is passing knowledge transfer to the next generation. Then product development for UBA and then curriculum development for finance in Nigeria”, he said.
Commenting on what the fund will do , Prof. Lawal intimated that they are currently working on fintech curriculum development.
“We have done the first phase of the drafts. We drafted curricula for fintech; one for BSc in financial technology, second one MSc for financial technology, and third one PhD for financial technology in finance.
“So at the chair office, we want to prepare the youths through curriculum development to be able to fill gaps. So that’s one of those things we are doing. And this fund, since it is for research, we’re going to do that,” he said.
