Education
Fountain University Names Jaiz Bank Chairman as Chancellor
By Modupe Gbadeyanka
Chairman of Jaiz Bank Plc, Dr Umaru Mutallab, has been inaugurated as the new Chancellor of the Fountain University, Osogbo, Osun State. This was done on Tuesday at the institution’s 9th convocation ceremony held at the school’s auditorium.
The ceremony followed the approval of Mr Mutallab as Chancellor by the board of trustees and management and announced during a courtesy visit by the NASFAT executive members to his office in Abuja last November.
Mr Mutallab, while speaking during the ceremony, said that he felt honoured to be appointed chancellor of the university, adding that he would deploy his wealth of corporate experience and resources to foster growth and development of the institution.
“Let me thank the proprietors of this university, the Nasrul Lahi al-Fatihi Society (NASFAT) for considering me worthy of appointment as the Chancellor of this university. This is indeed the right moment for me to publicly acknowledge the honour accorded me.
“I consider this honour a privilege to serve my dear community and humanity. It comes to me after a modest five-decade career in the corporate world, and at a time that a retiree of my age is willing to commit more of his energies to charity and every possible way of pleasing the Almighty.
“I consider this a call to serve the young generation of youths to whom we all owe a duty of facilitating a brighter, prosperous and rewarding future,” the renowned banker said.
“I intend to deploy my vast experience in the corporate world to make Fountain University the pride of the Nigerian university system. The vision is to transform the university into a centre of excellence whose curricular will be skill-driven and employment generating in content and delivery, well beyond the statutory period of their validity,” he further said.
Vice-Chancellor of Fountain University, Prof. Amidu Sanni, said he is optimistic that the appointment of the new Chancellor will fast track several other developments to the university, which would enhance learning, research and community service.
In his remarks, the president of NASFAT worldwide, Mr Niyi Yusuff, expressed appreciation to the Chancellor for accepting the offer, stressing the institution is lucky to have such a prominent personality with wisdom, networks, and resources on the school’s board.
Dignitaries at the event included Osun State Governor, Mr Isiaka Oyetola; his wife, Mrs Kafayat Oyetola; Chairman Board of Trustees of Fountain University, Mr Abdulwaheed Adeola; former Vice Chancellor Fountain University, Prof Deji Oloyede; NASFAT President, Mr Abdul-Mumin Yussuf; Pro-Chancellor and Chairman of Council Fountain University, Vice-Admiral Jubril Ayinla, among others.
Mr Mutallab is a renowned business and banking leader, who is presently the Chairman of Jaiz Bank. He served as Minister of Economic Development in 1975. He was later a member of Nigeria’s Federal Executive Council (1976-1978). He was also a former Chairman of First Bank Nigeria (1999-2009).
Mr Mutallab played a major role in introducing Islamic banking into Nigeria. He has also served on the boards of directors of several companies, including Arewa Textile Limited, NEPA, NACB, NCC, Nigeria Agip Oil, and Cement Company of Nigeria, and in 2009 was Chairman of several companies, including Impresit Bakolori Plc, Incar Nigeria Plc, and Spring Waters Nigeria Limited (SWAN).
Mr Mutallab is chairman of the Business Working Group of the Vision 20:2020 Committee in Nigeria, and president of the Old Boys Association of Barewa College.
He is a Fellow of both the Association of Chartered Certified Accountants (FCCA) and the Institute of Chartered Certified Accountants of Nigeria (FCA). Mr Mutallab was awarded the title of Commander of the Order of the Niger, one of Nigeria’s highest honours.
Fountain University was established by the Nasrul-lahi-li Fatih Society in 2007. It is a privately-owned Islamic faith-based university in Osun State.
By Adedapo Adesanya
The Nigerian Education Loan Fund (NELFUND) has granted another extension for its Student Loan Application Portal to accommodate institutions that requested additional time for the 2025/2026 academic session.
According to the statement signed by NELFUND’s Director of Strategic Communications, Ms Oseyemi Oluwatuyi, on Thursday, the extension applies only to institutions that submitted formal requests, allowing eligible students extra time to complete their applications.
“The Nigerian Education Loan Fund has approved an extension of its Student Loan Application Portal for institutions that have formally requested additional time for the 2025/2026 academic session,” the statement read.
Business Post reports that at the beginning of March, NELFUND announced an extension to the deadline by a week for its student loan application portal following a notable rise in nationwide interest driven by ongoing awareness campaigns.
Speaking on the development, NELFUND Managing Director and Chief Executive Officer, Mr Akintunde Sawyerr, reiterated the Fund’s commitment to ensuring that eligible students at participating institutions can access the student loan programme.
“NELFUND remains committed to ensuring that eligible students across participating institutions have the opportunity to access the student loan programme,” he said.
The Fund urges students in affected institutions to take advantage of the extension and submit their applications through the official portal.
It also emphasised its dedication to transparency, accountability, and providing sustainable financing solutions to remove financial barriers to higher education in Nigeria.
Established to administer the Nigeria Student Loan Scheme, NELFUND was enacted into law by President Bola Tinubu in April 2024.
The initiative provides interest-free loans to students in public tertiary institutions to cover tuition and living expenses.
Beneficiaries are required to repay the loans after completing their education and securing employment, aiming to increase access to higher education for students from low-income backgrounds.
By Adedapo Adesanya
The Nigeria Revenue Service (NRS) has inaugurated a Curriculum Review Committee aimed at strengthening taxation education in Nigerian academic institutions and improving the country’s tax administration system.
According to a statement, the committee was inaugurated on February 24, at the NRS Academy in Durumi as part of the agency’s broader efforts to modernise tax education and align academic training with the evolving demands of contemporary tax administration.
Speaking during the inauguration, the Director of the NRS Academy, Mr Adeolu Akinyemi, said the review exercise would involve collaboration with the Chartered Institute of Taxation of Nigeria (CITN) to develop a more structured and relevant curriculum for the academy.
He emphasised that the initiative seeks to ensure that taxation programmes taught in Nigerian institutions reflect current developments in tax policy and practice, while also equipping students with the practical knowledge required in today’s tax administration environment.
The committee has been tasked with examining existing taxation curricula across Nigerian institutions and proposing updates that incorporate modern tax policies, recent legislative changes, and emerging areas such as digital taxation and global tax practices.
Officials say the review is also designed to close the gap between theoretical classroom instruction and the practical realities of tax administration.
By strengthening the link between academic learning and professional practice, the revised curriculum is expected to better prepare graduates for careers in the tax sector.
The effort is further expected to enhance tax awareness among citizens, encourage voluntary tax compliance, and support the development of skilled tax professionals who can contribute to national revenue generation and economic growth.
The committee is chaired by Mrs Aisha Hamman Mahmoud, Special Adviser to the Executive Chairman of the NRS on Research and Statistics. Its membership includes representatives from the service as well as academic experts in taxation and fiscal policy, alongside professionals with experience in tax administration, policy formulation, and tax education.
The committee will work with relevant educational regulatory agencies and professional bodies to ensure that the proposed curriculum aligns with national academic standards while addressing the practical needs of Nigeria’s tax system.
The NRS stated that the initiative forms part of its ongoing commitment to expanding tax knowledge, strengthening professional capacity, and promoting responsible tax practices across the country.
The curriculum review exercise is expected to be completed within 60 days, after which the Service plans to provide further updates on the implementation of the revised programme.
By Modupe Gbadeyanka
The first batch of Nigerian undergraduates to enjoy fully paid scholarships for studying science, technology, engineering and mathematics (STEM) courses across the continent has been chosen by Airtel Africa Foundation.
Business Post gathered that 70 students from universities across Nigeria were selected from thousands of applicants through an independently managed process, which took nearly six months.
It was learned that most of the undergraduates were from the University of Lagos (UNILAG), Obafemi Awolowo University (OAU) Ile-Ife, the University of Benin (UNIBEN), Tai Solarin University of Education (TASUED), the University of Ilorin, Ahmadu Bello University (ABU Zaria), and the University of Nigeria (UNN).
The scholarship covers tuition, laptop computers, living expenses, and essential learning resources, a statement from Airtel Africa Foundation disclosed.
The chairman of the foundation, Mr Segun Ogunsanya, speaking at the presentation of the scholarships to the beneficiaries at the Lagos headquarters of Airtel Nigeria, emphasised the need for initiatives such as the Airtel Africa Foundation’s undergraduate tech scholarship for the future of the continent.
“True legacy is not measured by the awards we win or the volume of SIM cards we sell; it is measured by the lives we save, the people we feed, and the students we support when the line between success and failure is at its thinnest.
“At the Airtel Africa Foundation, we believe that lifting people out of poverty is the ultimate benchmark of a great company. Today, we are writing that legacy by tilting the balance in favour of the brilliant but underserved, ensuring that the fourth industrial revolution, driven by AI and Data Science, is built by African talent for the African continent,” he stated.
Mr Ogunsanya further revealed that this fellowship, executed through Airtel Nigeria, is designed to bridge the gap where funding, skills, and opportunity often fail to meet.
In addition to the N500,000 yearly budget for the fellows’ four-year or five-year courses, each fellow would be integrated into a structured support system for academic guidance and career mentorship, intended to ultimately transition students from the classroom to the global tech workforce.
Addressing the students, the chief executive of Airtel Nigeria, Mr Dinesh Balsingh, stressed that youth development is a strategic imperative for Airtel.
“At Airtel Nigeria, we view youth development as essential nation-building. When young people succeed, innovation accelerates, and social stability improves.
“By connecting these brilliant scholars to knowledge, skills, and confidence, we are fulfilling our core mission to connect people to opportunity. To our recipients: you earned your place here through merit and discipline. You are now ambassadors of excellence, and we expect your leadership to be defined by your conduct as you help shape a more inclusive digital future for Nigeria,” the Airtel Nigeria chief said.
The Nigerian cohort joins a prestigious network of Airtel Africa Foundation fellows currently studying in Tanzania, the Democratic Republic of Congo (DRC), Uganda, and India.
The initiative underscores a broader commitment to technology education, youth development, and Nigeria’s digital economy.
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