This is to inform all members of the University Community that the University of Lagos is desirous of establishing a Microfinance Bank which would galvanise the development of medium and small-scale businesses in the University. Findings made from some Federal universities and polytechnics in Nigeria, to which visits were made, confirmed that establishing a Microfinance Bank in the University is feasible and viable.
In order to achieve the successful setting up of the bank, the University Management set up the University of Lagos Microfinance Bank Committee to guide the process of establishment, which has now reached an advanced stage of completion. As part of measures to entrench corporate governance structure, the Committee hereby calls for application from interested private investors, organizations and reliable institutions within the University of Lagos Community to take advantage of this opportunity to increase their financial threshold through investments by taking up share percentage in the proposed Microfinance Bank.
This call for application is intended to ensure that stakeholders within the University Community are carried along in this viable business venture. For the avoidance of doubt, eligible organisations include, but are not limited to, Cooperative Societies, Organised Unions (ASUU, SSANU, NASU, NAAT), Unilag Muslim Community, Unilag Christian Community (Chapel of Christ Our Light & St. Thomas Moore), International School, Unilag (ISL), Staff School, University of Lagos Women Society (ULWS), etc.
It is worthwhile to state that the Committee has a limited timeline for the application process of interested investors in the proposed Microfinance Bank.
Please note that the University of Lagos has taken up fifty-one percent (51%) of the shares and the Unilag Consult Management Board has also taken up four percent (4%) of the shares. The remaining forty-five percent (45%) of the one hundred million (100,000,000.00) shares at Three Naira (N3.00) per share is up for sale for a period of thirty (30) days starting from the date of this publication. Minimum of one million (1,000,000.00) shares and in multiples of five hundred thousand (500,000.00) shares are available.
Interested investors should contact the Chairman of the Committee, Professor Bola Oboh, Department of Cell Biology & Genetics, University of Lagos, or the Secretary of the Committee, Mr. M. A. Gbadamosi, School of Foundation Studies with their applications.
For further details, kindly call: 08023061932 or 08083040631