KDU-I receives N1bn endowment fund, inaugurates advancement committee

THE N1 billion endowment fund that was gifted the KolaDaisi University, Ibadan, (KDU-I) at its maiden convocation by its founder\chancellor, Bashorun of Ibadan Land, Chief Kola Daisi as his initial subscription to the university for self-sustainability, has been released to its coffers.

In a statement made available to Nigerian Tribune by the registrar of the institution, Mr Olawale Adetu Haruna, the announcement of the release was made by the pro-chancellor and chairman of council of the university, Mr Remi Babalola on January 18, 2023 at the inauguration ceremony of the University Advancement Committee (UAC) of the institution.

The UAC, according to Mr Babalola, is a product of extensive discussions and subsequent consensus on ways of achieving sustainability for the university in the area of funding,” and was basically set up for the management of endowment funds, amongst other initiatives, to advocate and attract social investments to the university.”

In his speech at the inauguration ceremony, he noted that the founder/chancellor’s of the institution had revealed his avowed commitment to the progress of the institution through the release which culminated in his quest to ensure that the university becomes self-sufficient.

He noted that the gesture by the chancellor, which he labeled ‘leading by example,’ would encourage other stakeholders and friends of the university to make financial contributions to the endowment fund.

He stated that “it is the aspiration of the KDU-I’s council to take the university to the point where it runs itself from its proceeds in the not too distant future, and for the university’s management to rapidly develop critical infrastructures that will facilitate learning and development of the students.”

“All these can be fast-tracked if this newly inaugurated committee works assiduously and in unison to attract goodwill,” he added.

He noted that the council expected the committee members to demonstrate deft innovation, determination for success and bring to bear their cumulative experience to achieve the mandate it had been saddled with.

The UAC is chaired by Professor Oladapo Afolabi, CFR while Chief Mojisola Ladipo, MNI was appointed as the vice chairman.

Other members of the committee are the vice chancellor of the institution, Professor Adeniyi Olatunbosun, SAN; Chief Biodun Salami; Alhaji Bashir Tukur; Mr Tokunbo James; Mrs Olasumbo Obaseki; bursar, KDU-I, Mr Olayinka Babatunde; and the registrar, KDU-I, Mr Haruna Olawale Adetu as the secretary to the committee.