By TAI SOLARIN VARSITY GETS HOSTEL Written by Prince Education Mar 1, 2010 Tai Solarin varsity gets hostel

Intercontinental Bank Plc has commissioned an ultra- modern 180-bed female hostel it built and donated to Tai Solarin University of Education (TASUED), Ijagun, Ogun State.

Speaking at the commissioning, the bank's Group Managing Director,Chief Executive, Mr. Mahmoud Lai Alabi, who said the completion of the hostel project was indeed a dream come true for the bank, thanked the state government for the opportunity given the bank to immortalize its name in the school with the donation of the female hostel.

Alabi, who was represented on the occasion by the Executive Director, Enterprise Risk Management, Mr. Gbenga Alade, said the bank was aware of the pivotal role education plays in national development, hence its involvement in that sector.

He stressed that the bank's involvement in educational infrastructure development was in recognition of the fact that government 'cannot provide us with everything that we need, hence the private sector must rise to the challenge of national development.'

According to him, the bank has demonstrated its belief in educational infrastructure development through its 'well-documented State Scholarship Awards scheme already launched in many states of the Federation and the donation of ultra-modern students' hostels to higher institutions of learning, one of which we are here today to commission.'

The bank boss who put the cost of the female hostel at N80 million, thanked the governing council of the university for allowing the bank to partner with it in the infrastructural development of the institution, saying he hoped the healthy relationship currently enjoyed would be sustained to enable both parties realize their goals and objectives.

Also speaking, the Ogun State governor, Otunba Gbenga Daniel, who was represented at the occasion by the deputy governor, Alhaja Salmot Badru, commended the bank for partnering with the state in providing 'the first ultra -modern hostel facility for the benefit of students of the first Education University in Africa.'

In the same vein, Prof. Olatunji Oyeneye, Pro- Chancellor and Chairman of Council of the university, said 'before today's commissioning of this hostel, there was no hostel facility on campus, that is why we will forever remain grateful to Intercontinental Bank for coming to our aid in this regard and I assure the bank that this is the beginning of a great partnership.'

Recently, the bank also donated an ultra-modern hostel to the Adekunle Ajasin University, Akungba-Akoko, Ondo State as part of its Corporate Social Responsibility.