Mr. Phillips Oduoza, Group Managing Director of UBA Plc
The United Bank for Africa (UBA) Plc said it has resuscitated the UBA
Professorial Chair of Finance at the University of Lagos (UNILAG)
with an endowment sum of the N52.9 million.
with an endowment sum of the N52.9 million.
A cheque to this effect was presented to the Vice Chancellor of the
university, Professor Rahman Bello and members of the institution’s
governing council by Mr. Phillips Oduoza, the Group Managing Director
and CEO of UBA Plc,in Lagos recently.
According to a statement, the UBA GMD who led other executive
management members the school said UBA was committed to the promotion of
a globally competitive educational system in the country.
"We have seen that there is a huge gap in the funding of educational
system in the country and UBA as an institution, strongly believes in
the future of Nigeria and that a well trained and educated manpower is
germane to our growth and development as a nation, which is the reason
why we have decided to resuscitate this endowment," he said.
Oduoza assured that the bank will continue to promote research and
innovation in the Nigerian educational system, to boost man-power
development and called on other banks, companies, institutions and
individuals to emulate the UBA gesture.
“As first line beneficiaries of quality manpower, to support the
pursuit of research and education in all Nigerian universities, private
sector endowments will result in the creation of centers of excellence
in different Nigerian universities, improving the quality of graduates,
decision making and leadership in the society. Government alone cannot
make this happen,” Oduoza stated.
The Vice-Chancellor of Unilag was full of commendations for UBA Plc for
resuscitating this chair despite the economic meltdown in the country,
just as he recalled the pioneering efforts of the bank in 1972 as it
established the foremost chair in the university, the UBA Chair of
Finance with an endowment.
Speaking on the robust relationship that exists between UBA and Unilag,
the VC said, "It is worthy to mention here today that the first
financial institution to show its presence on campus and to support
academic excellence in the university was UBA. From our records, this
reputable bank awarded scholarships to our students in the faculty of
business administration way back from 1969/1970 academic session."
Explaining further, the VC said, "The establishment of the UBA
Professorial Chair of Finance in 1972 was the first at the University of
Lagos and indeed in any other University in the country. It served as
the major catalyst for the establishment in 1973 of the Department of
Finance in the faculty of Business Administration."
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