UBA Launches N60 Million Professorial Chair in Finance
United Bank for Africa (UBA) Plc has inaugurated a state-of-the-art four-storey sales office and innovation hub at the University of Lagos (UNILAG), designed to serve its growing customer base of 80,000 clients. This significant development is complemented by the bank’s introduction of the UBA Financial Research Professorship Award, aimed at promoting impactful research and innovative ideas.
At the opening ceremony, UBA’s Group Managing Director, Oliver Arauuba, emphasized the potential of collaboration between academia and industry to drive national growth. “Today marks a groundbreaking moment that highlights the synergy between innovation and education, reflecting the core values shared by UBA and the University of Lagos,” he stated.
Arauuba remarked on UBA’s longstanding relationship with UNILAG, recalling that the bank was the first to open a branch at the university in 1969. “This partnership, with over 80,000 customers relying on our services, demonstrates the trust and friendships we have cultivated,” he added. While Arauuba did not disclose the building’s monetary value, he affirmed it represents a substantial investment in Africa’s future.
As part of its commitment to fostering industry-academia relations, UBA also announced a Financial Research Professorship Award valued at 60 million naira. This initiative aims to enhance high-level financial research and collaboration within the academic environment.
The Vice-Chancellor of UNILAG, Professor Folasade Ogunsola, expressed pride in the partnership, stating that sustainable development in both universities and nations requires structured cooperation between academia and industry. “This partnership is a testament to the importance of collaborative efforts and deepens our longstanding relationship,” she noted.
The new building, equipped to serve both banking needs and academic endeavors, symbolizes the essence of collaboration between UBA and UNILAG. Professor Ogunsola highlighted its significance, saying it stands as a monument to what joint ventures can achieve.
Professor Adedoyin Lawal, the UBA Professor of Finance, lauded the bank’s commitment to restoring the endowment fund for the Professorial Chair. He outlined the four primary objectives of the chair: enhancing research visibility, mentoring future leaders, product development for UBA, and curriculum innovation in finance across Nigeria. He also mentioned ongoing efforts to create a comprehensive fintech curriculum at various academic levels, reinforcing the bank’s commitment to advancing financial education.
