United Bank for Africa (UBA) Plc has inaugurated a state-of-the-art innovation hub and business office at the University of Lagos (UNILAG), reinforcing its commitment to innovation, youth empowerment and nation-building.
Gatekeepers News reports that in a statement, the bank said the initiative is aimed at deepening its longstanding relationship with the academic community while providing students and staff with access to resources that foster creativity, entrepreneurship and professional development.
The facility was commissioned by UBA Group Chairman, Tony Elumelu, who was represented by Oliver Alawuba, the Group Managing Director and Chief Executive Officer of the bank.
According to the statement, the commissioning marks another milestone in the enduring partnership between UBA and UNILAG.
Speaking at the event, Elumelu described the project as a significant investment in the future of young Africans and a reaffirmation of the bank’s belief in the transformative power of education.
“Returning to my alma mater for this commissioning makes this moment particularly meaningful. Universities remain the birthplace of ideas, innovation, and future leadership,” he said.
“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.”
Elumelu noted that UBA’s philosophy of empowering people and building institutions remains central to its growth strategy across the African continent.
Vice-Chancellor of the University of Lagos, Folasade Ogunsola, commended Elumelu for maintaining a strong relationship with the institution and supporting initiatives that drive innovation and development.
“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.
“The intellectual rigour, the ambition, and the broadness of vision that he would go on to demonstrate as he transformed a struggling bank into a pan-African institution of global stature, that fire was sharpened here.”
The innovation hub is a four-floor complex designed to promote collaboration between academia and industry while creating opportunities for innovation, research and entrepreneurship.
UBA will operate its business office within the facility, while the remaining floors will be dedicated to the university’s developmental and academic initiatives.
Alawuba said the facility would serve as a platform for students and members of the university community to access opportunities that support learning, innovation and leadership development.
“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 said.
