Unveil new banking facility, innovation hub
The University of Lagos (UNILAG) and United Bank for Africa (UBA), yesterday, unveiled a new purpose-built facility and innovation hub, marking the latest phase of a partnership that dates to the institution’s early years.

The Vice-Chancellor, Prof. Folashade Ogunsola, said the building represents a model for how academia and industry can collaborate beyond transactional arrangements.

She said the structure would serve both as a banking facility for the campus community and as a contribution to the university’s academic and operational programmes, with two floors dedicated to university use.

She recalled that the university was established with a mandate to produce graduates for national development and was never intended to operate as an ivory tower.

Ogunsola highlighted Tony Elumelu’s personal connection to the institution, stating that he earned his Master of Science degree in Economics at UNILAG and that the intellectual rigour and ambition he demonstrated in building UBA into a Pan-African institution were sharpened there.

Group Managing Director of the bank, Oliver Alawuba, said the new facility is a renewal of UBA’s relationship with UNILAG, which he said spans decades.

He, however, accepted the proposals for deeper collaboration, including a structured yearly UBA-UNILAG internship programme to place top students directly into UBA’s operations, and joint research initiatives with the Faculty of Management Sciences and the Department of Economics on financial inclusion, among others.

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.

He also announced an additional N60 million approval for the professorial chair, stating that the bank wants to see practical results and impact on the economy.

Alawuba said the facility and hub were for their use and urged them to use the environment to think broadly, learn deeply, and develop solutions for Nigeria, Africa, and the world.