United Bank for Africa has taken its decades long relationship with the University of Lagos a step further, inaugurating a four storey Innovation Hub and Business Office on the university campus to drive research, innovation and youth development.

UBA Group Managing Director, Mr Oliver Alawuba, described the facility as a strategic investment in education, innovation and Africa's future at the inauguration ceremony, stressing that deeper collaboration between universities and industry remains critical to driving economic transformation across the continent.

The building is structured to serve dual purposes, with two floors dedicated to UBA operations and two floors allocated to UNILAG activities. The bank also disclosed plans to improve digital connectivity around the facility through enhanced WiFi access designed to support learning, research and innovation.

Alawuba noted that UBA was the first bank to establish a branch in a Nigerian university in 1969, adding that the branch currently serves more than 80,000 customers. He revealed that the UBA Foundation is considering extending its scholarship and essay competition programmes to tertiary institutions, beginning with UNILAG.

"This building is more than a banking office. It symbolizes a renewed and enduring relationship between UBA and the University of Lagos. We are investing in African youths and showing the confidence we have in this university," Alawuba stated.

On technology, the UBA chief noted that Artificial Intelligence had become central to global economic growth, adding that the bank remained one of Africa's leading institutions in AI adoption. "We will collaborate with the university in advancing innovation and preparing students for the future," he added.

UNILAG Vice Chancellor, Prof. Folasade Ogunsola, described the project as a major milestone, commending UBA Group Chairman, Mr Tony Elumelu, an alumnus of the university, for supporting his alma mater through infrastructure development, research partnerships and student focused initiatives. She called for structured internship programmes, joint research in financial inclusion and digital banking, as well as support for entrepreneurship.

"The inauguration of this facility is not just the commissioning of a building, but the institutionalisation of a partnership aimed at advancing education, enterprise and Africa's economic growth," Ogunsola remarked.

UNILAG Students Union President, Mr Bolaji Akinpelu, described the hub as a major boost for student creativity, noting it offered students a space to test ideas and develop solutions.