Ecobank Nigeria says it will continue to collaborate with the Delta State University towards the development of education in the state and the country in general.
A statement by the lender quoted its Executive Director, South-South and South-East, Mr. Kingsley Umadia, as saying this during the handover of a multi-million hostel complex to the management of the university in Abraka, Delta State.
He explained that the abandoned 166-room four-wing female hostel was completed and made habitable by the bank with the sum of N118m under a Build, Operate and Transfer agreement entered into by both institutions in 2007.
He said, “the University recently approached the bank to take over the management of the hostel and pay our bank the outstanding balance of N64.36m, which the bank was yet to collect. But the bank in a CSR initiative graciously forfeited the outstanding balance and injected additional N10m to renovate the hostel before today’s handover to the school.”
According to Umadia, Ecobank has been involved in various intervention measures in the education and other sectors of the economy.
The statement quoted the out-going Vice Chancellor, DELSU, Prof. Eric Arubayi, as commending the bank for the handover of the hostel to the school.
He assured that the facility would be put to good use, adding that “the handover is a great honour to me as this is my last day in office. We are greatly touched by this massive CSR project from Ecobank.
The President, Student Union, DELSU, Mr. Obaro Ohwojer, urged other corporate organisations to emulate the lender.
A statement by the lender quoted its Executive Director, South-South and South-East, Mr. Kingsley Umadia, as saying this during the handover of a multi-million hostel complex to the management of the university in Abraka, Delta State.
He explained that the abandoned 166-room four-wing female hostel was completed and made habitable by the bank with the sum of N118m under a Build, Operate and Transfer agreement entered into by both institutions in 2007.
He said, “the University recently approached the bank to take over the management of the hostel and pay our bank the outstanding balance of N64.36m, which the bank was yet to collect. But the bank in a CSR initiative graciously forfeited the outstanding balance and injected additional N10m to renovate the hostel before today’s handover to the school.”
According to Umadia, Ecobank has been involved in various intervention measures in the education and other sectors of the economy.
The statement quoted the out-going Vice Chancellor, DELSU, Prof. Eric Arubayi, as commending the bank for the handover of the hostel to the school.
He assured that the facility would be put to good use, adding that “the handover is a great honour to me as this is my last day in office. We are greatly touched by this massive CSR project from Ecobank.
The President, Student Union, DELSU, Mr. Obaro Ohwojer, urged other corporate organisations to emulate the lender.
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