- The University of Lagos was established in 1962, the relationship between UNILAG and The United Bank For Africa traces back to 1965 with the first Branch on the University Campus.
- The relationship has evolved from campus banking into academic endowments, innovation, research, beautification of the environment and student development.
- One of the most defining moments in the relationship was UBA’s decision to open a branch on the UNILAG campus in 1965—widely recognised as the first university campus banking operation in Nigeria.
This institutionalised banking directly into higher education and created a model later adopted across Nigerian universities today.
Over the decades, the partnership moved beyond banking services into supporting the university’s growth agenda.
A major milestone was the establishment of the UBA Professorial Chair in Finance in 1972 under the administration of former Vice-Chancellor Jacob Festus Adeniyi Ajayi.
The Chair later contributed to the creation of UNILAG’s Department of Finance in 1973 and became recognised as one of Nigeria’s oldest academic endowments in finance.
Supporting the curriculum and research development.
While promoting Knowledge exchange between industry and academia.
After years of a fruitful partnership, UNILAG and UBA agreed in 2021 on a purpose-built new campus facility designed as a joint-use structure -combining commercial banking infrastructure with university development priorities.
The project was designed as a collaboration between industry and academia rather than a standalone branch expansion.
In 2024, UBA revamped the UNILAG Garden often called the UBA Green Garden which acts a place of relaxation for all individuals visiting the university.
In 2026: Commissioning of the UBA Innovation Hub and Business Office
A four-floor shared complex.
UBA operates a dedicated business office within the building.
Other sections of the facility support broader university use.
In 2026, UBA announced an additional ₦60 million enhancement to the UBA Professorial Chair in Finance to strengthen research output and sustain academic excellence.
Current work linked to the Chair reportedly includes curriculum development in emerging areas such as financial technology.
UBA serves more than 80,000 customers within the UNILAG ecosystem providing financial services for students, staff, alumni and university operations.
In addition, UBA has announced internet connectivity around the facility to support research, learning and global access for students.
Alumni linkage strengthened through UBA Group Chairman Tony Onyemaechi Elumelu, whose connection to UNILAG adds a symbolic and practical dimension to the partnership.
Mr Tony Elumelu bagged MSc in Economics in 1986.
Two Former GMDs were products of the University – Kennedy Uzoka and Phillips Oduoza.
The relationship has evolved from “first campus branch” → “academic endowment” → “shared infrastructure” → “innovation and research ecosystem”, → Environmental Renewal, powered by human capital connectivity, making it one of Nigeria’s most enduring university–industry collaborations.
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The Long Dance: The Story of the UBA x UNILAG Connection
It takes two to tango. And every legacy usually begins when vision meets belief, when one institution is willing to build and another is willing to grow.
For United Bank for Africa and University of Lagos(UNILAG), that story began in 1965.
Just three years after UNILAG opened its doors, UBA, then evolving from the British and French Bank, established in Nigeria in 1949, became the first bank to open a branch inside a Nigerian university campus. More than six decades later, that decision has grown into one of the longest-running university-industry partnerships in the country.
And somehow, the connection kept coming full circle.
Three UBA leaders have direct academic ties to UNILAG. Group Chairman Tony Elumelu earned his MSc in Economics from the university in 1988 before helping transform UBA into a pan-African institution.
Former Group Managing Directors, Phillips Oduoza and Kennedy Uzoka bagged First-Class from that citadel of learning.
But this relationship has never been just about banking.
In 1972, UBA established the UBA Professorial Chair in Finance at Unilag, Nigeria’s oldest academic endowments by any financial institution, in any Nigerian university. The initiative later contributed to the establishment of the university’s Department of Finance in 1973 and strengthened research, curriculum development, and knowledge exchange between industry and academia.
Over the years, the partnership expanded into scholarships, student-focused initiatives, the UBA Green Park, and empowerment platforms through the UBA Foundation and the Tony Elumelu Foundation.
Now, the relationship has entered another chapter with the commissioning of the UBA Innovation Hub and Business Office, a four-floor shared complex designed as a collaboration between industry and academia. Beyond serving over 80,000 people within the UNILAG ecosystem, the facility also comes with internet connectivity to support research, learning, and innovation.
During the commissioning, the Vice Chancellor described Tony Elumelu as “a son of this University,” adding that his journey is “living proof that UNILAG produces not merely graduates, but world-changers.”
And perhaps that is what this moment truly represents.
Not just a new structure, but a relationship that has continued to invest in minds, dreams, and possibilities for over 60 years.
As UBA Group Managing Director Oliver Alawuba puts it:
“The future belongs to institutions that do more than build structures; the future belongs to those that build minds, empower talent and create platforms where dreams become progress.”
From campus banking to innovation and research ecosystems, the UBA-UNILAG story is clearly far from over.
On Africa Day 2026, UBA Reaffirms Its Role as Africa’s Premier Continental Bridge
Africa’s Global Bank, United Bank for Africa (UBA) Plc, marked Africa Day with a group-wide celebration across its offices in 20 African markets, bringing employees together in a shared observance of cultural and continental pride.
For UBA, which has spent over seven decades building operations from Lagos to Nairobi, Accra to Abidjan, Dakar to Douala, and Maputo to Kinshasa, Africa Day served as a moment to reflect on how far the institution has come and the ambition that lies ahead.
The day’s wider programme featured cultural showcases, a fashion runway, and music and food presentations drawn from the Group’s operating markets, with participation from all 20 countries.
Speaking at the event, UBA Group Managing Director and Chief Executive Officer, Oliver Alawuba, drew a direct line between the Group’s pan-African footprint and the wider economic transformation underway across the continent.
“As a Group with presence in 20 African countries, UBA is more than a bank. We are a bridge across markets, cultures, people and opportunities,” Alawuba said. “Every day, through our people, our technology, our capital and our customer relationships, we connect Africa to itself and Africa to the world.”
Alawuba’s address came at a moment of notable momentum for African banking, as digital finance is reshaping how individuals and businesses transact, cross-border trade volumes are growing, and demand for locally owned, globally competitive institutions is intensifying.
“Africa’s story is changing,” Alawuba noted. “Young people are innovating, entrepreneurs are creating new businesses, women are leading boldly, creatives are taking our culture global, and institutions are beginning to reimagine the future of trade, finance, technology and development. At UBA, we must continue to see ourselves as enablers of this transformation.”
In his address, Alawuba challenged staff to see the Group’s diversity of languages, cultures, and geographies as a structural advantage in serving African markets that no external institution can replicate.
The GMD demanded UBA staff to carry the energy of the celebration into their client relationships and day-to-day execution, citing simplicity, responsiveness, and goal orientation as the standards the Group must hold itself to.
“Let us bring the same energy we display today into our work, with excellence, enterprise and execution,” Alawuba said. “Let us continue to prove that African institutions can be world-class, trusted, innovative and globally competitive.”
UBA also used the occasion to activate Red Vault, its innovative lifestyle rewards platform, bringing a curated selection of African consumer brands directly into the event space. Lush Hair, Zayith, Tobi’s Closet, and Sweet Tooth Cafe were among the brands featured, providing staff with an on-the-ground demonstration of what Red Vault is designed to do at scale, which is to connect UBA customers to a rewards ecosystem anchored in African businesses and everyday experiences.
United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees group-wide and serving over 45 million customers globally. Operating in twenty African countries, the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting-edge technology.
