FIRSTBANK APPROVES N12.5M DONATION TO BAYERO UNIVERSITY

First Bank of Nigeria Plc has again boosted the country’s educational sector with a donation of N12.5 million to the Bayero University, Kano. The donation, in furtherance of FirstBank’s commitment to improving the quality of medical research in tertiary institutions, is dedicated as an endowment to a professorial chair in Paediatrics Department at the University. Mu’uta Ibrahim, a professor of Paediatrics is the Chair Occupant.

At the official presentation of a Peugeot 406 official car to the newly appointed Chair Occupant, the Kano Area Manager of the Bank, Mr. Alwan Hassan, said corporate social responsibility is a key commitment of the Bank and that its activities in this regard stems from FirstBank’s determination to improve the overall well-being of the society in which it operates.

Hassan explained that the Bank instituted the University Endowment Programme Fund (UEPF) to enhance the quality of tuition, promote academic research and check the problem of brain drain through endowment of professorial chairs in Nigerian universities, adding that the gesture would also complement Federal Government’s efforts at deepening research in tertiary institutions across the country.

He disclosed that, so far, the Bank had endowed 15 professorial chairs in Nigerian universities at a nominal value of N319 million.

Professor Ibrahim thanked FirstBank for the endowment, promising that the gesture would aid him in carrying out more research in children’s health, promising a good use of the fund by his research team.

In his response, the Vice Chancellor of Bayero University, Professor Attahiru Jega expressed appreciation at what he described as the “generous and consistent” assistance of FirstBank’s to the university. Professor Jega said the university was delighted to receive the vehicle, which would facilitate the duties of the chair occupant, adding that the university would ensure a prudent use of the Bank’s contributions to its development.

From an initial value of N7.5 million at the launch on May 21, 1997, FirstBank’s professorial chair in Paediatrics in Bayero University, Kano has risen to N12.5 million. Based on FirstBank’s Endowment structure, the Chair Occupant is entitled to an official car, an annual research grant of N1.5 million, as well as Chair maintenance allowance and cash prize for three (3) best graduating students in the Department of Paediatrics.