Nigerian Bank Nigeria Intercontinental Bank Plc – Intercontinental Bank Donate Post Graduate Hostel

Source:Vanguard, Nov 9, 2009

Intercontinental Bank, last week, commissioned Intercontinental Post Graduate Hostel which it donated to Adekunle Ajasin University in Akungba Akoko, Ondo State. Speaking at the commissioning, the bank’s Group Managing Director, Mr. Mahmoud Lai Alabi, said despite the global financial meltdown, Intercontinental Bank is still at the forefront of raising the bars of education in Nigeria, which is a logical product of the Intercontinental Bank Plc vision

Alabi, who was represented at the occasion by the bank’s Executive Director, Lagos and Institutional Banking, Mr. Olusegun Osilowo, revealed that organisations have vision and once your vision is clear every other things falls in place. “Despite what the bank went through recently, it is observable that the founders of this great institution had good and noble intentions. This is not the only place we have donated hostels and it is not going to be the last,” Osilowo said.

The ED stressed that this is part of the strategic intent of the Bank, which is the need to develop Nigeria. “If you take from the society, it is only natural and proper to give back to the society to demonstrate social responsibility principle,” he added Explaining the involvement of the bank in educational development, Osilowo said the bank has always been in the forefront of development of Ondo State, especially in the area of education which the bank believes remains the hub of other aspects of development in the country.

“This we have demonstrated in our own modest way with the donation of this 120-bed space modern student hostel built at a cost of N80m, which we are here today to commission.” Commending the bank, Bar. Dan Nwanyanwu, Ag. Pro- Chancellor and Chairman of Council, Adekunle Ajasin University, said “It is not all the time you get corporate organisations assisting universities or communities where they are located, but Intercontinental Bank has been involved in this over the years. I have gone round and I have seen some of these projects in University of Lagos and elsewhere, this is something other corporate organisations should emulate.”

Pointing out that funding of infrastructure should not be left in the hand of the government alone, Nwanyanwu tasked corporate organisations to participate. “The post graduate students that will use this place will also be happy and I think Intercontinental Bank has raised the bar of postgraduate hostel accommodation in Nigerian to meet world-class standard.

Nigerian Bank Nigeria Intercontinental Bank Plc