The Igbobi College Old Boys’ Association (ICOBA) has raised an additional N1 billion towards its proposed N10 billion Endowment Fund, bringing total commitments to over N2 billion to secure the future of the prestigious institution.

The fresh commitments were announced during the formal signing of documents establishing the endowment fund at an event held at Chapel Hill Denham, which brought together alumni, trustees, governors, corporate leaders and development partners in what stakeholders described as one of the largest alumni-driven education funding initiatives in the country.

The latest pledges were in addition to an earlier N1 billion commitment secured in February when former Vice President, Prof. Yemi Osinbajo, formally launched the endowment fund.

Igbobi College, founded in 1932 by the Anglican and Methodist Missions, has produced generations of leaders in business, public service, academia, engineering and other professions.

As the school approaches its centenary in 2032, alumni say the endowment fund is designed to ensure that the institution remains competitive among leading educational establishments in Nigeria and beyond.

Chairman of the ICOBA Endowment Fund Committee, Kunle Elebute, said the fund would provide sustainable financing for infrastructure development, technology-driven learning, scholarships, curriculum enhancement and other strategic projects aimed at repositioning the school.

According to him, the endowment has been structured to guarantee transparency, accountability and long-term sustainability through a governance framework that includes dedicated teams for fundraising, investment management, operations and communications.

The 12th President of ICOBA, Yomi Badejo-Okusanya, who spoke on behalf of the alumni body, described the initiative as a commitment by old students to build a lasting legacy for future generations.

“In another six years, Igbobi College will be 100 years old, and we are asking what kind of legacy we would like to see at that milestone,” he said.

He, therefore, urged alumni across the world to support the fund.

Chairman of the Board of Governors, Babatunde Sobamowo, said the initiative goes beyond fundraising, noting that it seeks to create a permanent financial platform capable of supporting the school’s long-term aspirations.

Also speaking, Chairman of the Board of Trustees, Bode Thorpe, stressed the importance of prudent management of the fund, saying that it would be professionally administered to preserve capital, generate sustainable returns and support future generations of students.

Chairman of the Endowment Fund-raising Committee, Wale Adeosun, highlighted progress made so far and called on the alumni and supporters to continue backing the initiative.

In his closing remark, ICOBA First Vice President, Femi Soremekun, described the signing ceremony as a major milestone in the association’s efforts to deepen alumni engagement and secure the institution’s future.