UBA has reaffirmed its
commitment to improved educational standards in the country with the endowment
of a N52.9 million UBA Professorial Chair of Finance at the University of
Lagos.
Vice Chancellor, University of Lagos(Unilag), Professor Rahamon Bello and GMD/CEO, UBA Plc, Mr Phillips Oduoza at the formal presentation of N52.9m endowment for
the UBA Professorial Chair of Finance to the University of Lagos.
Phillips Oduoza,
the Group Managing Director and CEO of UBA Plc, while personally
presenting the cheque of N52.9 million to the Vice-Chancellor, University
of Lagos, Professor Rahamon Bello, on Friday, July 31, 2015 assured that the
bank is committed to the promotion of a globally competitive educational system
in the country.
“As an
institution, we strongly believe in the future of Nigeria and that a well
trained and educated manpower is germane to our growth and development as a
nation. We have thus not hesitated in supporting worthy initiatives of this
nature. In fact, Executive Management wasted no time in considering the
resuscitation of this endowment and we are pleased to present a cheque for the
sum of N52.9million to endow the UBA Professorial Chair of Finance,” Mr. Oduoza
said.
Mr. Oduoza, who
is also an alumnus of the school, assured that the bank will continue to
promote research and innovation in the Nigerian educational system, to boost
man-power development.
“We are also
hoping that by initiating this endowment, it will attract more banks and
financial institutions to support tertiary education in the country,” Mr.
Oduoza said.
He called on
other banks, companies, institutions and individuals, which are the first line
beneficiaries of quality manpower, to support the pursuit of quality research
and education in all Nigerian universities, noting that private sector
endowments will result in the creation of centres of excellence in different
Nigerian universities, improving the quality of graduates, decision making and
leadership in the society.
l-r: Ms Obi Ibekwe, Executive Director,
Resources, United Bank for Africa(UBA) Plc ; Vice Chancellor, University of
Lagos(Unilag), Professor Rahamon Bello; GMD/CEO, UBA Plc, Mr Phillips Oduoza;
and Professor Duro Oni , Deputy Vice Chancellor, Unilag at the formal
presentation of N52.9m endowment for the UBA Professorial Chair of Finance to
the University of Lagos
“Government
alone cannot make this happen,” Mr Oduoza said.
The
Vice-Chancellor, while receiving the cheque was full of commendations to UBA
Plc on the noble initiative.
He expressed his
appreciation to the bank for resuscitating the endowment, which was rested in
1998.
The
Vice-Chancellor recalled that, UBA in a bid to promote academic excellence in
the university through a research based endowment, established the UBA Chair of
Finance with special reference to banking on 13th January, 1972.
"The
establishment of this chair, the first of its kind not only at the University
of Lagos, but indeed in any University in Nigeria by UBA, served as the major
catalyst for the establishment in 1973 of the department of finance in the
faculty of Business Administration,” the VC said.
He also
disclosed that UBA was the first bank to have a presence on the campus and to
support academic excellence at the University with the award of scholarships to
students in the faculty of business administration way back in 1969/1970
academic session.
“UBA was also
the first institution to upgrade the value of the two prizes endowed from N1,
000 to N50, 000 cash award each to the best graduating students in the
Department of Finance and Accounting in perpetuity,” the VC said.
UBA contribution
to education in Nigeria spans several initiatives and cuts across all
geographical zones of the country. Some of the Universities that have benefited
from UBA educational initiatives include; Adekunle Ajasin University,
Akungba-Akoko, Akure, Ondo State, University of Benin, Edo State, Federal
College of Education, Osiele, Abeokuta, Ogun State, and the University of
Ilorin, Kwara State.
