CBN Commends, Selects FUNAAB to Pilot TIES

Published On:

August 12, 2021

The Central Bank of Nigeria (CBN) has commended the Federal University of Agriculture, Abeokuta (FUNAAB) for having a solid and thriving entrepreneurial structure on ground even as it selected the University as a beneficiary of the Tertiary Institutions Entrepreneurship Scheme (TIES).

Head, Development Finance Unit of CBN, Abeokuta Branch, Dr. Oluyemisi Olukoya gave the commendation disclosing that the selection of FUNAAB as beneficiary of TIES during an interactive parley with the Vice-Chancellor, Prof. Kolawole Salako.

Dr. Olukoya who was elated that FUNAAB already has the structure on ground with its Centre for Entrepreneurial Studies(CENTS) recalled that CBN has been partnering with the University’s Microfinance Bank through Micro Small and Medium Enterprise (MSME).

She added that the Apex Bank is ready to explore the University’s existing entrepreneurship windows while focusing on focal areas and dynamics of the existing entrepreneurship programmes in FUNAAB.

Responding, the Vice-Chancellor, Professor Kolawole Salako expressed the readiness of the University for the partnership, saying that value-addition in agriculture can be explored.

Professor Salako stated that there are opportunities for the youths in the country, adding that he was amazed to see locust beans being well packaged and sold at Shoprite Supermarkets in the country.

Commenting further, the Vice-Chancellor disclosed that the development of computer applications should be examined while stimulating the interests of potential entrepreneurs in that regard, rather than the youths engaging in obnoxious online activities like hacking of accounts, among others.

 According to him, the world has gone digital and it’s imperative that entrepreneurs acquire digital literacy to be relevant in their businesses.

The Vice-Chancellor further informed that the University is in support of the Scheme suggesting that CBN should also look for ways to support the trainers in the areas of infrastructure when supporting the trainees.

Corroborating the Vice-Chancellor, the Director, CENTS, Professor Festus Adeosun highlighted additional areas to be included in the partnership, saying that business support services like access to capital for startups and sources of funds to actualise the mandate of CENTS are equally important.

Present at the meeting were the Deputy Vice-Chancellor (Academic), Professor Bolanle Akeredolu-Ale; Deputy Vice-Chancellor (Development), Professor Clement Adeofun; Registrar, Dr. Bola Adekola and the Deputy Director, CENTS, Dr. Lawrence Egbeyale.

Others were Messrs Fajinmi and Egunjobi from CBN.

Last Updated on August 12, 2021 by FUNAAB

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