United Bank for Africa and the University of Lagos have inaugurated an ultra-modern branch building and an attached Innovation Centre at the institution’s Akoka campus in Lagos.
The high-tech facility is designed to deepen a decades-long relationship between both institutions, offering top-tier digital financial services to over 80,000 members of the campus community while serving as a strategic hub for academic research and technological development.
Speaking at the ribbon-cutting ceremony at the university campus on Monday, the Vice-Chancellor of the University of Lagos, Prof. Folasade Ogunsola, highlighted the transformative nature of corporate-academic alliances in driving national growth.
She said, “The enduring development of this university, and indeed of this great nation, is not achieved by government alone but through genuine, structured and visionary partnerships between academia and industry.
“In a time when public universities across Africa fight for resources, having an institution of UBA’s stature invest in our infrastructure and in our human capital development is both timely and deeply appreciated.”
The VC emphasised that the purpose-built structure extended far beyond basic banking functions, allocating two entire floors directly to the university to support academic and operational programmes.
“This building is not just about brick and mortar, but it is a symbol of what industry and university partnership looks like,” Ogunsola added, before throwing out a challenge to the financial giant for a deeper, institutionalised workflow.
She noted, “We are calling for a structured annual UBA-UNILAG Internship Programme, placing our top students directly into UBA’s operation. Let us build a research bridge where we invite UBA to partner with our Faculty of Management Sciences and Department of Economics on joint research regarding financial inclusion, digital banking, and African economic integration.”
Responding to the university’s call, the Group Managing Director and CEO of UBA Plc, Oliver Alawuba, who led the high-powered bank delegation, affirmed that the financial institution was ready to scale up its support to match UNILAG’s long-term academic vision, saying, “When I spoke to the VC, I said, Yes, we can do that, but it is just the foundation for the things that we will do together.
“I think she is speaking to the converted. So, VC, we will do those things and more. Let the ideas come. I say that as a challenge to the university community: let’s see those ideas of areas of collaboration we can do together, and we will keep that support active.”
Exploring the financial commitments underpinning the collaboration, Alawuba unveiled major funding upgrades for the institution’s premier research department, ensuring that theoretical knowledge translates into real-world market intelligence.
“Our most enduring partnership is the Professorial Chair in Finance, which started in 1972. In 2015, we resuscitated it with an N52m endowment, and we have approved an additional N61m because we want it to be practical,” Alawuba disclosed.
He added, “We want to see results; we want to see the impact of that chair on the economy of this country. Beyond academia, we also need infrastructure for international capacity to grow. To that end, UBA is going to make sure we install a strong, robust Wi-Fi network around this entire area so that when students come to this innovation centre, they can seamlessly access and connect with the rest of the world.”
Providing deep structural context to how these funds will be deployed, the current chair occupier of the UBA Professorship of Finance, Prof. Adedoyin Lawal, expanded on the immediate, actionable metrics assigned to his office. Lawal, a research professor of economics at the Department of Finance, explained, “The chair occupier has four distinct mandates. First is a visibility drive, which heavily entails rigorous academic research. Second is mentoring, which handles crucial knowledge transfer to the next generation. The final two are product development targeted for UBA and curriculum development for finance in Nigeria.”
Highlighting an active intervention designed to bridge Nigeria’s widening tech-talent deficit, Lawal revealed that his office has already completed crucial regulatory groundwork to alter how financial technology is taught natively.
He disclosed, “Currently, we are working on fintech curriculum development and have completed the first phase of the drafts. We have drafted four distinct curricula for financial technology: a BSc, an MSc, and a PhD in Financial Technology under Finance.
“You will recall that the Group CEO of Moniepoint, Tosin Eniolorunda, raised some vital issues when he recently appeared on The Platform Nigeria. He stated that his organisation alone has about 500 job openings that could not be filled due to a shortage of qualified local talent. At the chair office, we want to proactively prepare our youths through this targeted curriculum development to fill these exact industry gaps. Since this newly approved fund is strictly for research and development, that is exactly what we are going to do.”
Though unable to attend physically due to pressing international engagements, the Group Chairman of UBA and distinguished UNILAG alumnus, Tony Elumelu, sent his goodwill through the GMD, signalling a lifelong commitment to his alma mater. “My chairman had actually planned to be at this meeting, and we made a lot of adjustments to try and make it possible,” Alawuba conveyed on behalf of Elumelu.
“He sends his best wishes and his goodwill to this university. He is proud of us, and it is because of his direct vision and approval that we have this magnificent building today. He will continue to be a passionate admirer of the University of Lagos,” he added.
The ceremony concluded with a guided tour of the complex, which features advanced interactive tech spaces, digital banking halls, and the newly integrated innovation hub, leaving a resounding message for the student body.
“To all our students watching today, this building, these floors, are yours. They are a permanent reminder that this university has strength, that your excellence is recognised, and that the corporate world beyond these gates is waiting to embrace you,” Ogunsola concluded in her closing remarks.
