UMFB, CENTS Partner To Empower Youths Through Skills Acquisition, Financial Inclusion

The FUNAAB Microfinance Bank (UMFB), has partnered with the Centre for Entrepreneurial Studies (CENTS), Federal University of Agriculture, Abeokuta (FUNAAB), to empower youths through vocational skills acquisition, personal development and financial inclusion, in a strategic move to promote self-reliance and entrepreneurship within the University Community.

The initiative, to be implemented through CENTS with sponsorship from the bank, is aimed at giving back to the University Community, which has contributed to the growth and development of the financial institution.

Speaking on the partnership, the Managing Director of UMFB, Mr. Adebiyi Ayoade, described FUNAAB as the largest shareholder of the bank, noting that the University provided the platform upon which the bank had grown. He explained that the partnership was conceived to reciprocate the University's support by investing in youth development through vocational training and improved access to financial inclusion opportunities.

According to him, the sponsorship formed part of the bank's Corporate Social Responsibility (CSR) commitment to its host community and aligned with the Central Bank of Nigeria's (CBN) mandate of promoting financial inclusion, poverty reduction and community development.

On the selection of beneficiaries, Mr. Ayoade disclosed that the programme would be inclusive, with priority given to women, persons with disabilities, indigent students and other financially disadvantaged members of the University Community. He emphasised that financial circumstances, gender or physical disability should not prevent talented young people from acquiring relevant skills and building sustainable livelihoods.

The initiative also complemented CENTS' mandate of promoting an entrepreneurial culture among students and members of the public, as well as the University's renewed emphasis on entrepreneurial skills training for 100 and 200 Level students. Through the Centre, beneficiaries are expected to receive practical training, mentorship and guidance to become self-reliant job creators rather than job seekers after graduation.

Responding, the Director of CENTS, Prof. Sakiru Akinbode, expressed appreciation to the Managing Director and his team for sponsoring the youth empowerment initiative, describing the gesture as a remarkable demonstration of compassion and CSR.

He noted that the partnership went beyond conventional profit-making considerations by creating opportunities for vulnerable students, women and persons with disabilities to acquire practical skills, improve their livelihoods and build brighter futures. He assured the bank that the Centre would deliver quality and comprehensive training through its experienced skill leaders, facilitators and mentors, using practical, hands-on and market-relevant approaches.

Prof. Akinbode further assured the bank that its investment would translate into measurable outcomes, including skills acquired, businesses established and lives positively transformed, stressing that the Centre would not compromise on training standards.

To demonstrate its readiness and capacity, the CENTS Director subsequently led the Managing Director and his team on a guided inspection of the Centre's vocational training facilities, where they assessed the available infrastructure and equipment across various training units. He explained that the tour was intended to showcase the Centre's preparedness and conducive learning environment for delivering effective, high-quality vocational training.