United Bank for Africa (UBA) and the University of Lagos (UNILAG) have inaugurated an ultra-modern branch building and Innovation Centre at the institution’s Akoka campus in Lagos.
The high-tech facility is expected to strengthen the long-standing relationship between both institutions by providing advanced digital banking services to more than 80,000 members of the university community while also supporting academic research and technological innovation.
Speaking during the ribbon-cutting ceremony on Monday, the Vice-Chancellor of the University of Lagos, Folasade Ogunsola, described the partnership as a strong example of how collaboration between academia and industry can drive national development.
She said the growth of universities and the country as a whole could not depend solely on government support but required structured and visionary partnerships with the private sector.
“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,” she stated.
Ogunsola explained that the purpose-built structure extends beyond traditional banking operations, with two entire floors allocated directly to the university for academic and operational activities.
“This building is not just about brick and mortar, but it is a symbol of what industry and university partnership looks like,” she added.
The vice-chancellor also called for a deeper institutional collaboration between both organisations through internship placements and joint research initiatives.
She proposed a structured annual UBA-UNILAG Internship Programme that would place top students within the bank’s operations while encouraging research partnerships focused on financial inclusion, digital banking, and African economic integration.
Responding to the request, the Group Managing Director and Chief Executive Officer of UBA Plc, Oliver Alawuba, assured the university that the bank was prepared to expand its support for the institution.
“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,” Alawuba said.
He encouraged the university community to present more ideas for collaboration, promising that UBA would continue supporting initiatives capable of creating impact.
Alawuba also announced additional financial support for the institution’s Professorial Chair in Finance.
According to him, UBA initially revived the programme in 2015 with a N52m endowment and has now approved an additional N61m to strengthen its practical impact on Nigeria’s economy.
“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,” he said.
The UBA CEO further disclosed plans to install a robust Wi-Fi network around the innovation centre to improve connectivity and support global learning opportunities for students.
Providing insight into the research direction of the programme, the current chair occupier of the UBA Professorship of Finance, Adedoyin Lawal, said the office currently focuses on academic research, mentoring, product development, and curriculum development.
Lawal revealed that his office had completed the first phase of developing specialised financial technology curricula for undergraduate and postgraduate studies.
“We have drafted four distinct curricula for financial technology: a BSc, an MSc, and a PhD in Financial Technology under Finance,” he disclosed.
He explained that the initiative was partly inspired by concerns raised by the Group CEO of Moniepoint, Tosin Eniolorunda, regarding the shortage of qualified local technology talent in Nigeria.
According to Lawal, the new fintech-focused curriculum aims to equip Nigerian youths with industry-relevant skills capable of filling growing job gaps within the financial technology sector.
Although unable to attend the event physically, the Group Chairman of UBA and UNILAG alumnus, Tony Elumelu, sent goodwill messages through Alawuba, reaffirming his commitment to the institution.
“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,” Alawuba said on behalf of Elumelu.
The ceremony concluded with a tour of the new facility, which includes digital banking halls, interactive technology spaces, and an integrated innovation hub.
Addressing students at the event, Ogunsola described the building as a symbol of opportunity and recognition for the university community.
“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,” she said.
