The Igbobi College Old Boys’ Association has launched a N10bn endowment fund aimed at creating a sustainable source of funding for the college and supporting its long-term development.
The launch, which brought together corporate leaders, industry executives, and alumni, was held at Chapel Hill Denham in Lagos.
Speaking at the event, the Chief Executive Officer of Chapel Hill Denham, Bolaji Balogun, noted the significant challenge of education funding in Nigeria, adding that the initiative aims to inspire alumni and corporate participation in supporting educational institutions.
Balogun noted the role well-managed endowment funds play in sustaining leading educational institutions around the world.
He consequently urged Nigerian institutions and investors to embrace similar long-term funding models.
The event featured the formal signing of the endowment fund documentation by key stakeholders.
A commercial law firm, Banwo & Ighodalo, was affirmed as the legal adviser to the fund, guiding governance, compliance, and regulatory matters.
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