UMFB Partners FUNAAB Entrepreneurship Centre to Empower Youths Through Vocational Training and Financial Inclusion
The UNAAB Microfinance Bank (UMFB) has partnered with the Centre for Entrepreneurial Studies (CENTS) of the Federal University of Agriculture, Abeokuta (FUNAAB), to promote youth empowerment through vocational skills acquisition, personal development and financial inclusion.
Philip22
The UNAAB Microfinance Bank (UMFB) has partnered with the Centre for Entrepreneurial Studies (CENTS) of the Federal University of Agriculture, Abeokuta (FUNAAB), to promote youth empowerment through vocational skills acquisition, personal development and financial inclusion.
The initiative, which will be implemented through CENTS with sponsorship from the bank, is designed to encourage self-reliance, entrepreneurship and sustainable livelihood opportunities among members of the University community.
Speaking on the partnership, the Managing Director of UMFB, Mr. Adebiyi Ayoade, described FUNAAB as the bank's largest shareholder and acknowledged the University's significant contribution to the growth and development of the financial institution.
He explained that the partnership was established as a way of giving back to the University community by investing in youth development through vocational training and improved access to financial inclusion opportunities.
According to him, the sponsorship forms part of the bank's Corporate Social Responsibility (CSR) commitment to its host community and aligns with the Central Bank of Nigeria's (CBN) objectives of promoting financial inclusion, poverty reduction and community development.
Inclusive Opportunities for Vulnerable Groups
On the selection of beneficiaries, Mr. Ayoade disclosed that the programme would adopt an inclusive approach, with priority given to the following groups:
- Women.
- Persons with disabilities.
- Indigent students.
- Other financially disadvantaged members of the University community.
He stressed that financial limitations, gender or physical disabilities should not prevent talented young people from acquiring valuable skills and developing sustainable sources of income.
The initiative also aligns with the mandate of CENTS to promote an entrepreneurial culture among students and members of the public.
It further supports the University's renewed emphasis on entrepreneurial skills training for 100 and 200 Level students.
Through the programme, beneficiaries are expected to receive practical vocational training, mentorship and professional guidance to prepare them for self-employment and business ownership rather than relying solely on paid employment after graduation.
CENTS Assures Bank of Quality Training and Measurable Results
Responding, the Director of CENTS, Professor Sakiru Akinbode, expressed appreciation to the Managing Director of UMFB and his team for sponsoring the youth empowerment initiative.
He described the gesture as a remarkable demonstration of compassion and commitment to Corporate Social Responsibility.
Prof. Akinbode noted that the partnership went beyond conventional business interests by creating opportunities for vulnerable students, women and persons with disabilities to acquire practical skills, improve their livelihoods and build sustainable futures.
He assured the bank that the Centre would provide comprehensive and high-quality training through its experienced skill leaders, facilitators and mentors.
He further explained that the training would adopt practical, hands-on and market-relevant approaches to ensure that participants acquire skills that can be applied in real-life business and employment situations.
The CENTS Director also assured the bank that its investment would translate into measurable outcomes, including:
- Vocational skills acquired by beneficiaries.
- Businesses established by trained participants.
- Improved livelihood opportunities.
- Positive transformations in the lives of beneficiaries.
He emphasised that the Centre would maintain high training standards and ensure that the objectives of the partnership were achieved.
Inspection of Vocational Training Facilities
As part of the engagement, Professor Akinbode led the Managing Director of UMFB and his delegation on a guided tour of the Centre's vocational training facilities.
During the inspection, the team assessed the available infrastructure and equipment across the various training units.
The Director explained that the exercise was organised to demonstrate the Centre's preparedness, available resources and conducive learning environment for delivering effective vocational training.
The partnership represents a significant step towards strengthening entrepreneurship, promoting financial inclusion and equipping young people with practical skills needed to become self-reliant and economically productive.
