United Bank for Africa (UBA) Plc has resuscitated the UBA
Professorial Chair of Finance at the University of Lagos with an endowment sum
of the N52.9 million. A cheque to this effect was presented to Professor
Rahaman Bello, Vice Chancellor of the University of Lagos and members of the
institution’s governing council at the weekend in Lagos by Mr. Phillips Oduoza,
group managing director of UBA.
Oduoza, who led other executive management members to the
school, said UBA is committed to the promotion of a globally competitive
educational system in the country.
According to him, the bank has seen that there is a huge gap
in the funding of educational system in the country and has decided to support
in the provision of qualitative education as it strongly believes that a well
trained and educated manpower is important to the growth and development of the
nation.
He 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 said.
In his remarks, Bello praised UBA for resuscitating the
chair despite the economic meltdown in the country, noting that the bank had in
1972 established the foremost chair in the university, the UBA Chair of Finance
with an endowment.
According to him, it is worthy to note that the first
financial institution to show its presence on campus and to support academic
excellence in the university was UBA as it started awarding scholarships to
students in the faculty of business administration as far back as 1969/1970
academic session.
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