Polaris Bank Strengthens Legacy of Excellence with Major Renovation of Historic Faculty Building at University of Ibadan

Polaris Bank Strengthens Legacy of Excellence with Major Renovation of Historic Faculty Building at University of Ibadan

Lagos, Nigeria – March 26, 2026 — In a powerful demonstration of its dedication to deepening educational advancement and human capital development in Nigeria, Polaris Bank, has made significant funds available towards the full renovation of the Faculty of Economics and Management Sciences Building at the prestigious University of Ibadan.

This landmark intervention revives a historic structure originally gifted to the University in 1985 by one of Polaris Bank’s legacy institution, the defunct International Bank for West Africa (IBWA). For over four decades, the building has stood as a beacon of academic excellence, shaping generations of Nigerian professionals in critical disciplines.

The facility previously served as the home for the highly regarded MBA and MSc Banking and Finance (Professional) programmes until 2016. It continues to function as essential lecture spaces for MSc and PhD students in Economics, having hosted thousands of lecture hours across various programmes. Well over 500 students have directly benefited from the building, many of whom have emerged as influential leaders and experts driving Nigeria’s financial services industry, the academia and broader economy.

As part of its robust Corporate Social Responsibility (CSR) strategy focused on Education and Human Capital Development, Polaris Bank’s support aims to transform the ageing infrastructure into a modern, world-class learning environment that fosters innovation, critical thinking, and cutting-edge research.

At the formal cheque presentation ceremony held at the University, last Thursday, Polaris Bank’s Managing Director/CEO, Kayode Lawal, underscored the strategic importance of the bank’s intervention.

According to the Polaris Bank’s CEO, who was represented by the Head of Retail Banking, Njideka Nwabueze said, “Education is the most powerful catalyst for national transformation.  “By renovating this historic Faculty building, we are not only preserving a proud institutional legacy,  but also creating a conducive, inspiring space for the next generation of economists, bankers, accountants, and financial experts who will shape Nigeria’s economic future.”

He added that the intervention goes far beyond physical upgrades: “This project reflects our deep belief in investing in the minds that will drive sustainable economic growth, innovation, and leadership across the nation and beyond. Disciplines such as ;  Economics, Banking & Finance, and Accounting are the bedrock of a resilient economy, and we are proud to strengthen the infrastructure that nurtures talent in these vital fields.”

The renovation which is scheduled for completion within six weeks. Once completed, will provide enhanced lecture theatres, improved amenities, and better research spaces, significantly elevating the quality of teaching and learning for current and future students.

This intervention aligns seamlessly with the United Nations Sustainable Development Goals, particularly SDG 4: Quality Education and SDG 8: Decent Work and Economic Growth. It further reinforces Polaris Bank’s long-standing commitment to supporting Nigeria’s tertiary institutions and bridging infrastructure gaps that hinder academic excellence.

Polaris Bank remains steadfast in its mission to empower Nigeria’s youth through targeted investments in education. By partnering with leading institutions like the University of Ibadan, the Bank continues to play a pivotal role in building a knowledge-driven economy and producing high quality talents equipped to tackle national and global challenges in the short to medium and long term basis.

Polaris Bank remains committed to driving sustainable development through responsible banking and impactful Corporate Social Responsibility (CSR) initiatives that address critical social, environmental, and economic challenges. Guided by Environmental, Social and Governance (ESG) principles