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Fountain University Names Jaiz Bank Chairman as Chancellor

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Fountain University Chancellor Umaru Mutallab

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.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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Education

Excitement as Oyo Promotes 16,500 Public Primary School Teachers

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Oyo Public Primary School Teachers

By Dipo Olowookere

Teachers in public primary schools in Oyo State are currently excited over the decision of the government to promote some of the dedicated ones.

They believe this action will motivate them to give their best to improve the quality of education in the state, which is now doing well at various external examinations and competitions.

On Wednesday, over 16,500 public primary school teachers across the 33 Local Government Areas (LGAs) of the state were elevated by the state government.

It was gathered that some of the teachers had spent some years without promotion before the assumption of office of the present administration led by Mr Seyi Makinde in 2019.

Speaking during a symbolic presentation of the letters to the teachers in Ibadan, the state capital, the Executive Chairman of the State Universal Basic Education Board (SUBEB), Dr Nureni Adeniran, charged the beneficiaries to redouble their efforts, saying the state government was committed and passionate about their welfare.

He affirmed that the promotion exercise was part of efforts by the present Government to boost education in the state, stating that, “When Governor Makinde assumed office, he promised to give priority to education and today, we have adopted measures to improve the standard of education in the state.”

Mr Adeniran commended the foresight of the Governor and his political will to transform the education sector in the state.

“Today, this government has approved and commenced distribution of promotion letters to over 16,500 public primary teachers in the state”.

“The welfare of teachers is taken very seriously by the Governor Seyi Makinde-led administration, salaries of teachers are paid as at when due.”

The SUBEB chief, who noted that the government was aware that recruitment of teachers would address the problems of inadequate manpower in the basic education sub-sector and promote teaching and learning, urged stakeholders to exercise more patience.

He stressed that soon, after resolving some bottlenecks, the Oyo State Government will employ primary school teachers with professional teaching qualifications based on merit.

In their separate remarks, the Chairman, Nigeria Union of Teachers, (NUT) Oyo State chapter and the Chairman, Association of Primary School Head-teachers of Nigeria (AOPSHON), Comrade Toju Adedoyin and Comrade Kunle Adedeji commended the state government for the promotion of teachers in the state.

They said that the promotion would boost the morale of teachers in Oyo State, adding that it will promote teaching and learning.

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Education

What You Need to Know About Education Trust

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Education Trust

By FBNQuest

There is no doubt that the joy of parenting beats the responsibility of raising children. However, poor planning can make this obligation harder than it needs to be.

Planning for your child’s future can be expensive. Paying for necessities, school fees, hobbies, family vacations, and unexpected events in life quickly adds up.

If you are a parent, then these expenses are either in your present or your future. Putting a child through formal education often represents regular rising fee payments over about 16 years if they enrol in a tertiary institution.

To limit the stress related to financing your child or children’s education, it is best to start planning for it early. An Education Trust provides an innovative and efficient way to do this.

Rising tuition prices could mean that many families struggle to afford their children’s secondary and higher education without borrowing money or taking out loans. In addition, to relieve future stress, creating an Education Trust for your child presents a vehicle into which family members, guardians and close friends who would like to support a child can make their contributions.

An Education Trust is overseen by a Trustee, who can ensure that the Trust is used for educational purposes only. Through the Trust instrument, the Trustee can be directed to handle the funds in virtually any manner you wish as the creator of the Trust.

In addition to addressing costs associated with a beneficiary’s education, the Trust could specify periodic payments of set amounts to the beneficiary and prescribe the usage of the Trust’s assets upon the completion of the beneficiary’s education. They may also be designed to provide for children that you may have in the future. Education Trusts can be operational immediately or upon the demise of the creator of the Trust.

Contemplating financing your child’s future education while catering to your current financial obligations need not be a hassle, there are several options for how your own financial and physical assets can be incorporated into an Education Trust.

FBNQuest Trustees can guide you through creating an Education Trust for your loved ones to make life easier for you as a parent and for the children/ward.

We are happy to advise you on how to combine assets that you own now with those you will earn in the future into an Education Trust that caters to the needs of the beneficiaries in line with your wishes.

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Education

23,000 Nigerians Benefit from Chevron Scholarship

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Chevron Scholarship

By Adedapo Adesanya

Chevron Nigeria has disclosed that 23,000 Nigerians have benefitted from its scholarship programmes since its inception, including postgraduate scholarship in Nigeria and foreign universities.

The Chairman and Managing Director of Chevron Nigeria and Mid-Africa Business Unit, Mr Rick Kennedy, said over 16,500 students from all the 36 states in Nigeria have benefitted from the Medical and Engineering Professional Scholarship programme, put together by Chevron and her JV partners in Agbami field, since 2009.

The Chevron boss explained that from the 16,500 Medical and Engineering Professional Scholarship, 715 students have graduated with first-class degrees.

CNL’s General Manager, Policy, Government and Public Affairs, Mrs Esimaje Brikinn, quoted the company’s boss explaining that Chevron and its deepwater partners have continued to invest in education infrastructure, and has executed over 25 libraries across the country.

“Chevron companies in Nigeria have continued to support education development in the Niger Delta region and across the country through the development of education infrastructure, capacity building and scholarships.

“The scholarships include; the NNPC/CNL JV national university scholarship and the community scholarship program which caters for students in both secondary and tertiary institutions from communities in CNL’s areas of operations (GMoU and non-GMoU communities).

“Additionally, CNL awards scholarships to visually-impaired students to enhance their access to quality education.

“Over 23,000 people have benefitted from the company’s scholarship programs which include scholarships for community postgraduate scholars in Nigeria and foreign universities. Six of the over 180 community postgraduate students graduated with distinction.

“CNL also deploys the Science Teachers project meant to boost science education in remote secondary schools in the Company’s areas of operation.

“The program ensures the posting of National Youth Service Corps science graduates to serve their mandatory one-year period as science teachers, with Chevron providing extra incentives to NYSC members for the duration of the program.

“Since the inception of the Agbami Medical and Engineering Professional Scholarship programme in 2009, over 16,500 students from all the states of Nigeria have benefitted from the scholarship, out of which 715 students have graduated with first-class degrees.

“Chevron and its Deepwater partners have continued to invest in education infrastructure. As of today, the parties have executed 39 Science laboratory complexes and 25 conventional and hybrid libraries across the country.

“Also, Chevron and its partners embark on a wide range of activities to encourage students to develop an interest in key subjects of science, technology, engineering, and mathematics and, ultimately pursue STEM courses and career,” she said.

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