Polaris Bank Renovates Historic Faculty Building at University of Ibadan

Polaris Bank Renovates Historic Faculty Building at University of Ibadan

Ibadan, Nigeria – March 26, 2026 — Polaris Bank has committed significant funding to the full renovation of the Faculty of Economics and Management Sciences Building at the University of Ibadan, reinforcing its commitment to advancing education and human capital development in Nigeria.

The intervention revives a historic facility originally donated to the university in 1985 by the defunct International Bank for West Africa (IBWA), one of Polaris Bank’s legacy institutions. For more than four decades, the building has served as a hub of academic excellence, producing generations of professionals in economics, banking, and related disciplines.

The facility previously housed the university’s MBA and MSc Banking and Finance (Professional) programmes until 2016 and continues to support postgraduate teaching, particularly for MSc and PhD students in Economics. Over 500 students have directly benefited from the building, many of whom have gone on to play key roles in Nigeria’s financial services sector, academia, and the broader economy.

Speaking at the cheque presentation ceremony held at the university, Polaris Bank’s Managing Director/CEO, Kayode Lawal, represented by the Head of Retail Banking, Njideka Nwabueze, described education as a critical driver of national development.

“Education is the most powerful catalyst for national transformation. By renovating this historic Faculty building, we are not only preserving a proud institutional legacy but also creating a conducive environment for the next generation of economists, bankers, accountants, and financial experts,” he said.

He added that the project goes beyond infrastructure upgrades, emphasizing the bank’s broader vision of investing in human capital to drive sustainable economic growth and innovation.

The renovation, expected to be completed within six weeks, will deliver upgraded lecture theatres, improved facilities, and enhanced research spaces aimed at boosting the quality of teaching and learning.

The initiative aligns with global development priorities, including United Nations Sustainable Development Goals on Quality Education (SDG 4) and Decent Work and Economic Growth (SDG 8). It also underscores Polaris Bank’s Corporate Social Responsibility (CSR) focus on education and its broader Environmental, Social, and Governance (ESG) commitments.

With this intervention, Polaris Bank says it will continue to support Nigeria’s tertiary institutions while contributing to the development of a knowledge-driven economy equipped to address national and global challenges.