UBA strengthens ties with UNILAG, unveils innovation hub

Africa’s Global Bank, United Bank for Africa (UBA), has expanded its collaboration with the University of Lagos following the commissioning of a new Innovation Hub and Business Office within the institution.

The facility, unveiled on the university campus, is aimed at promoting innovation, entrepreneurship, financial inclusion and stronger collaboration between academia and industry.

UBA Group Chairman, Tony Elumelu, who was represented by the bank’s Group Managing Director and Chief Executive Officer, Oliver Alawuba, said the project reflects the bank’s continued investment in education and youth empowerment across Africa.

According to Elumelu, universities remain critical centres for leadership development, innovation and enterprise creation.

“Returning to UNILAG for this project is very significant for me because this institution helped shape my journey. We believe strongly in empowering young people and supporting institutions that contribute to Africa’s future,” he said.

The commissioning ceremony was attended by top management officials of the bank and members of the university leadership led by Vice Chancellor, Folasade Ogunsola.

Ogunsola commended UBA for sustaining a long-standing relationship with the university, describing Elumelu as a distinguished alumnus whose achievements continue to inspire students.

She noted that the partnership between the bank and the institution had continued to deliver meaningful impact through investments in education, innovation and research.

The newly commissioned four-floor complex will serve multiple purposes for both the university and the bank.

UBA’s dedicated Business Office within the building will provide students and staff with access to banking services, financial advisory support, entrepreneurship opportunities and innovation-focused engagements.

The remaining sections of the facility will support broader academic and developmental activities of the university.

Alawuba described the project as part of the bank’s broader strategy to bridge the gap between knowledge and opportunity.

“This Innovation Hub is designed to help students and young innovators connect with opportunities, enterprise support, mentorship and financial solutions that can prepare them for the future economy,” he said.

The event also featured the renewal of UBA’s sponsorship of the Professorial Chair in Finance at UNILAG, further deepening collaboration between the financial institution and the academic community.

Alawuba disclosed that the bank had approved an additional N61.67 million to strengthen the endowment fund supporting the chair.

He described the Professorial Chair, established in 1972, as the first finance professorial chair in any Nigerian university and one of UBA’s most enduring contributions to academic development.

According to him, the initiative was created to strengthen finance education, encourage banking research and support thought leadership within Nigeria’s financial industry.

UBA said the Innovation Hub project aligns with its wider mission of promoting sustainable development through strategic investments in education, technology, entrepreneurship and human capital development across the African continent.

The bank currently operates in 20 African countries and maintains operations in the United Kingdom, United States, France and the United Arab Emirates, serving more than 45 million customers worldwide.