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Ladoja supports #FundLAUTECH initiative with over N5m.
FORMER governor of Oyo state, Senator Rashidi Ladoja on Wednesday donated a sum of N5, 840, 000 to #FundLAUTECH, an initiative set up by the Alumni.
The initiative, which was conceived and conceptualized by Alumni of the Ladoke Akintola University of Technology, LAUTECH, Ogbomoso is aimed at rescuing the institution from imminent collapse through soliciting for fund.
The Accord Party (AP) leader donated N2, 000, 000 and his next 6 months pension salaries to the cause. Sources who spoke to Mega Icon Magazine disclosed that his pension, is N644, 589.15 per month.
Ladoja, who is the Osi Olubadan of Ibadanland, made the donation while receiving the team in his Bodija home in Ibadan.
In a related development, the 8 Accord lawmakers in the Oyo State House of Assembly also pledged a donation of N1, 000, 000.
Speaking at the reception, Ladoja, who said he did not have the privilege of going to LAUTECH, but studied in Belgium, noted: “I know the value of education. If you educate your child, you are ensuring a good future for yourself.
“It is not only that you are serving LAUTECH, you are serving humanity. What is going to be the fate of those students who have been in the same class for close to three years. Whatever happens to LAUTECH happens to all of us. My records are there in LAUTECH, as governor. I wanted to make the school number one but we made 5th position.
“That is commendable. Why thinking of the immediate, we must plan for the future. Is it safe to give it to government? Is it safe to trust government with LAUTECH. It is not good for us to think of ways of making it a private university with affordable fees. What is wrong in having a joint ownership?”, he questioned.
Earlier in his address, the leader of delegation of the University’s Alumni Association, Mr. Bayo Adeyinka narrated how many current and former students of the institution lost foreign admissions because they were unable to process their transcripts, adding that “about 37 consultants have left the university.”
He added that “Ogbomoso is now a ghost town because the economy of the state is attached to the university. If any of the students who have been at home for 3 years take to arms, who are we going to blame? Anybody can be the victim.
“We are not saying the state should not audit the institution, let the school be opened. You cannot even audit when they are not in school.
“What we are doing is like a palliative. We are working with ASUU. When we finish raising the fund, we will give the staffs and they will resume while the government continues auditing, within 3 weeks.
He continued, ” our long term objective is that by the time this is resolved, we want to use the fund to open an ICT hub so that everybody can develop technological thing in LAUTECH. Our short term is on what we can do to resolve this issue. Things have become worse that when they resume, some courses will have to be reaccredited.
It would be recalled that the Ooni of Ife, Oba Adeyeye Ogunwusi, who promised to chair the initiative’s Board of Trustees, donated N500, 000 to the cause last week.
Former Chairman of the Nigerian Communications Commission (NCC), Prof. Adeolu Akande, has extended warm felicitations to Barrister Sarafadeen Ali, the Senator representing Oyo South Senatorial district, on the occasion of his 61st birthday.
In a statement released on Saturday in Ibadan, the Oyo state capital, on Saturday, Akande lauded the lawmaker, describing him as a luminary whose life has been marked by distinguished service to the nation.
“Today, I join the world in celebrating you on your special day, as you mark 61 years of God’s abundant love and glorious impact on humanity,” the former NCC gaffer expressed.
He added, “I wish you many more years of God’s grace in your life.”
The headquarters of Heritage Bank at Victoria Island, Lagos, was besieged on Thursday by members of the labour union, protesting the recent dismissal of 1,000 support workers.
The National President of the National Union of Banks, Insurance and Financial Institutions Employees, Comrade Anthony Abakpa, led the demonstration, condemning the bank’s management for what he deemed a lack of adherence to due process in the termination of employment contracts.
Speaking during the protest, Comrade Abakpa asserted that the leadership of Heritage Bank failed to follow established protocols before executing the mass layoffs.
He emphasised the union’s commitment to pursuing justice for the affected workers, vowing to escalate their demands until the bank’s management rectifies the situation.
“We will intensify our demands for justice,” declared Comrade Abakpa, urging the bank’s management to take corrective action to address the grievances of the dismissed workers.
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, clarified that Nigeria is not utilising its foreign reserves to bolster the naira, despite recent fluctuations in reserve levels.
Speaking from Washington DC, where he is attending the International Monetary Fund-World Bank Spring Meetings, Cardoso highlighted the influx of $600 million into Nigeria’s reserves account within the past two days.
While the naira has experienced a notable appreciation against the dollar in recent weeks, climbing over 40% from approximately N1,900/$ to about N1,000/$1, Nigeria’s foreign reserves have been dwindling. As of April 15, reserves dropped to approximately $32.29 billion, marking the lowest level in over six years.
Cardoso emphasised that the shifts in reserves are typical for any country, where various financial obligations, such as debt repayments, necessitate withdrawals.
He stated, “What you’ve seen with respect to the shift in our reserves is normal in any country’s reserves where, for example, debts are due and certain payments need to be made. They are made because that is also part of keeping your credibility.”
Continuing, Cardoso underscored the dynamic nature of the market, advocating for a system driven by willing buyers, willing sellers, and price discovery.
He emphasised, “The shift in our reserves has really little or nothing to do with defending the naira, and that is certainly not our objective.”
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