On Tuesday 5th March 2019, the Vice Chancellor of the University of Lagos, Professor Oluwatoyin Ogundipe in his Office met with representatives of First City Monument Bank (FCMB) along with organizers of the Professor Ogundipe Innovative Challenge (POIC). During the meeting, the Vice Chancellor reiterated that the purpose of the competition was to help Nigerian students become young entrepreneurs before the end of their graduation from the University. He expressed his interest in the Nigerian youths, who he described as having so many ideas which needs to be harvested for nation building. In his words, “the University of Lagos wants our students to have a certificate in entrepreneurship irrespective of the course they studied at the university. We are also going to assist them by registering their businesses with the government such that when such businesses become successful the University will become part of their success stories, and this will also help in the university ranking”.

According to the Vice Chancellor, at least 1 % of the students’ business ideas will be registered by the university before they graduate. He stated the readiness of the University of Lagos to align with FCMB in ways to bring the innovations to reality.

The Executive Director (FCMB), who was represented by the Division Head Transaction Services, Mrs. Rolayo Akhigbe, expressed her company’s readiness to partner with POIC. She posited that the bank would replicate the Hub-1project on the University of Lagos campus and the winners of the POIC will be supported by the bank and its ICT Unit in their bid to get into the market space.

The Incubation hub will be set up before the end of April, solely for the students to create jobs and be employers of labour.

Other members present include the Chairman of the POIC, Dr. Kema Bonta, Ag.Director of the CITS, Dr. Odumuyiwa, Dr.Minari  amongst others.