Africa’s Global Bank, United Bank for Africa (UBA) Plc, has reinforced its commitment to innovation, youth empowerment, and education with the commissioning of the UBA Innovation Hub and Business Office at the University of Lagos (UNILAG).
The landmark facility was officially unveiled at the university campus in a ceremony attended by senior executives of the bank and members of the university leadership.
The commissioning was led by the Group Chairman of UBA, Tony Elumelu, who was represented by the Group Managing Director and Chief Executive Officer, Oliver Alawuba. The event was also attended by the Vice Chancellor of the University of Lagos, Professor Folasade Tolulope Ogunsola, and other key stakeholders.
The project marks another milestone in the long-standing relationship between UBA and the University of Lagos, one of Nigeria’s leading institutions of higher learning.
UBA has maintained a historic connection with the Nigerian education sector and was the first bank to establish a campus branch in the country in the 1960s. The initiative helped pioneer financial inclusion and institutional banking support within Nigeria’s university system.
Speaking on the significance of the project, Tony Elumelu described the commissioning as both symbolic and strategic, especially as an alumnus of the University of Lagos.
“Returning to my alma mater for this commissioning makes this moment particularly meaningful. Universities remain the birthplace of ideas, innovation, and future leadership. Through this investment, UBA is reaffirming its belief in young people and in the role institutions like the University of Lagos will continue to play in shaping Africa’s future,” he said.
Elumelu added that empowering people and building strong institutions remain at the heart of UBA’s growth strategy across Africa.
The Vice Chancellor of UNILAG, Professor Ogunsola, praised the bank for sustaining a relationship built on impact, innovation, and institutional support.
She described Elumelu as a proud son of the university and commended his contributions to Africa’s business and financial landscape.
“The Group Chairman of UBA, Mr Tony Onyemaechi Elumelu, CFR, one of Africa’s most celebrated entrepreneurs and philanthropists, is, in the truest and most meaningful sense, a son of this University,” she said.
According to Ogunsola, the leadership qualities and vision that transformed UBA into a leading pan-African financial institution were nurtured during Elumelu’s years at the University of Lagos.
The newly commissioned four-floor complex has been designed to foster collaboration between academia and industry.
Under the arrangement, UBA will operate a dedicated Business Office within the facility. The office will provide students, lecturers, and other members of the university community with access to innovative banking solutions, financial advisory services, enterprise support, and engagement opportunities.
The remaining floors of the building will be used by the university for institutional and developmental purposes.
Speaking at the event, UBA Group Managing Director and Chief Executive Officer, Oliver Alawuba, said the Innovation Hub and Business Office represent a strategic investment in talent development and economic transformation.
“UBA continues to create platforms that connect knowledge with opportunity. This facility will provide students and the university community access to ideas, networks, innovation support, and financial services that help unlock potential and prepare future leaders for a rapidly changing world,” he stated.
In another major development, the University of Lagos announced the renewal of UBA’s sponsorship of the Professorial Chair in Finance.
The renewed partnership is expected to strengthen collaboration between academia and industry while advancing research, thought leadership, and professional excellence in financial studies.
Alawuba noted that the UBA Professorial Chair remains one of the bank’s most enduring contributions to higher education and academic development.
The commissioning of the Innovation Hub and Business Office further reflects UBA’s commitment to supporting sustainable development through investments in education, technology, entrepreneurship, and human capital across Africa.
UBA currently operates in 20 African countries as well as the United Kingdom, the United States, France, and the United Arab Emirates. The bank serves more than 45 million customers globally and employs approximately 25,000 people across its operations.
