The University of Lagos (UNILAG) and United Bank for Africa (UBA) have officially unveiled a new purpose-built banking facility and innovation hub, marking a significant milestone in their decades-long partnership. The event took place yesterday on the university campus.
Vice-Chancellor Highlights Collaboration Model
UNILAG Vice-Chancellor, Professor Folashade Ogunsola, described the building as a model for how academia and industry can collaborate beyond mere transactional arrangements. She emphasized that the structure would serve dual purposes: as a banking facility for the campus community and as a contribution to the university's academic and operational programs, with two floors dedicated entirely to university use.
Professor Ogunsola recalled that UNILAG was established with a mandate to produce graduates for national development and was never intended to operate as an ivory tower. She highlighted Tony Elumelu's personal connection to the institution, noting that he earned his Master of Science degree in Economics at UNILAG and that the intellectual rigor and ambition he demonstrated in building UBA into a Pan-African institution were sharpened there.
UBA's Commitment to Deeper Collaboration
Group Managing Director of UBA, Oliver Alawuba, stated that the new facility represents a renewal of the bank's relationship with UNILAG, which spans decades. He accepted proposals for deeper collaboration, including a structured yearly UBA-UNILAG internship program to place top students directly into UBA's operations, as well as joint research initiatives with the Faculty of Management Sciences and the Department of Economics on topics such as financial inclusion.
Alawuba also confirmed plans to support the innovation hub attached to the new facility, linking it to UNILAG's existing entrepreneurship and technology hubs to ensure sustainability. He said UBA would work to strengthen Wi-Fi access around the area to support students' use.
Additional Funding and Vision
Alawuba announced an additional N60 million approval for the professorial chair, stating that the bank wants to see practical results and impact on the economy. He urged students and faculty to use the facility and hub to think broadly, learn deeply, and develop solutions for Nigeria, Africa, and the world.
