UBA Expands Support for Education with New Innovation Hub at UNILAG
UBA has commissioned a new Innovation Hub and Business Office at University of Lagos to promote innovation, entrepreneurship, and collaboration between academia and industry. The facility, unveiled by Tony Elumelu and UBA CEO Oliver Alawuba, will provide students and staff with access to banking services, enterprise support, and innovation opportunities.
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United Bank for Africa has strengthened its commitment to education, innovation, and youth empowerment with the commissioning of the UBA Innovation Hub and Business Office at University of Lagos.The newly unveiled facility, located within the university campus, was commissioned by UBA Group Chairman, Tony Elumelu, who was represented by the bank’s Group Managing Director and Chief Executive Officer, Oliver Alawuba.
The event was attended by senior executives of the bank and members of the university management led by Vice Chancellor, Folasade Tolulope Ogunsola.
The commissioning marks another milestone in the long-standing relationship between UBA and UNILAG, reflecting the bank’s continued investment in Nigeria’s education sector and support for innovation-driven development.
UBA highlighted its historic role in Nigeria’s higher education ecosystem, noting that it was the first bank to establish a campus branch in the country during the 1960s. The initiative pioneered financial inclusion and institutional banking support within Nigerian universities.
Speaking on the significance of the project, Tony Elumelu, an alumnus of UNILAG, described the occasion as both symbolic and strategic.
“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 institutions remain central to UBA’s growth agenda across Africa.
Vice Chancellor Professor Folasade Ogunsola praised UBA for sustaining a partnership built on innovation, institutional support, and impact.
According to her, Tony Elumelu remains “a son of the university,” whose leadership journey was shaped during his years at UNILAG.
She noted that the university is proud of Elumelu’s achievements in transforming UBA into a leading pan-African financial institution with global recognition.
The newly commissioned four-floor complex is designed to serve as a collaborative platform connecting academia and industry.
UBA will operate a dedicated Business Office within the facility to provide students, staff, and members of the university community with access to: Innovative banking services, Financial advisory support, Enterprise development opportunities, Innovation and networking platforms, Business engagement services
The remaining sections of the building will be used by the university for broader academic and developmental purposes.
Oliver Alawuba explained that the project represents a deliberate investment in talent development and future 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.
Another major highlight of the event was the renewal of UBA’s sponsorship of the Professorial Chair in Finance at UNILAG.
The university announced that the partnership would continue to strengthen collaboration between academia and industry while promoting research and professional excellence in finance studies.
Alawuba described the UBA Professorial Chair as the bank’s most enduring academic contribution.
According to him, the Chair was established in January 1972 as the first Finance Professorial Chair in any Nigerian university. He also disclosed that UBA has approved an additional ₦61.67 million to strengthen the Endowment Fund supporting the programme.
The commissioning of the Innovation Hub further reinforces UBA’s commitment to sustainable development through investments in education, entrepreneurship, technology, and human capital development across Africa.
UBA currently operates in 20 African countries as well as the United Kingdom, United States, France, and the United Arab Emirates. The bank serves over 45 million customers globally and employs more than 25,000 people across its operations.
