#fundLAUTECH Update: N9.4m Donation Presented To LAUTECH

Sequel to a letter written by the #fundLAUTECH team to the Chairman of the Governing Council, the Registrar invited the team to the Council Committee Room for a presentation. It was such a grand event as the #fundLAUTECH team were received by members of the Finance and General Purpose Committee which includes the Chairman of the Governing Council, Prof Oladapo Afolabi, the Vice Chancellor, Prof Adeniyi Sulaimon Gbadegesin, the Bursar, Registrar, Director of Physical Planning Unit and the Permanent Secretary of the Ministry of Education, Oyo State among others.

The Chief Initiator of the #fundLAUTECH Initiative, Bayo Adeyinka gave a short speech that explained the purpose of the initiative and highlighted the various stages of the project. He also took the Committee through a short presentation on the lessons learnt as he recommended an Office of Endowment to be run by a Director on a commission-basis but to be supervised by a Board of Trustees. He suggested no less a personality than the Ooni of Ife, His Imperial Majesty, Oba Adeyeye Enitan-Ogunwusi as the Chairman of the BOT.

He also mentioned the Collaborative Empowerment Programme (CEP), an arm of the #fundLAUTECH initiative and recommended that the CEP model should be adopted by the Entrepreneurship Centre being run by the University. He specifically mentioned the names of the Partners of the CEP which include Royal Niddle, IfeCrystals, Unique Catering, Red Projects, Miel Creationz and Shelter Electronics. He also appreciated those who supported the initiative with their donation. He reiterated the fact that all the running expenses of the project were from the personal purse of the team and not a single kobo was taken from the donation. He also stated that the project is being formally brought to an end with the donation.

Bayo Adeyinka further stated what the donation was meant for viz:

1. The sum of N5m (Five Million Naira ) as endowment fund and proceeds of investment to be awarded as cash prizes in the sum of N30,000 (Thirty Thousand Naira) each to the best graduating students across each of the 7 (seven) faculties in the University during Convocation ceremonies. The cash award/prize shall be called 'fundLAUTECH BEST GRADUATING STUDENT IN ENGINEERING', 'fundLAUTECH BEST GRADUATING STUDENT IN AGRICULTURE', etc. With this donation, the fundLAUTECH name is immortalized.

2. The sum of N4.4m (Four Million and Four Hundred Thousand Naira) to be used for the automation of the transcript process and purchase of all necessary equipment and infrastructure to automate same. He stated that the issue of automation of transcript was germane due to the longstanding challenge faced by graduates of the University and prayed that with this donation, the transcript cycle won't be longer than 48-72 hours.

Subsequently, two drafts totaling N9.4m (Nine Million and Four Hundred Thousand Naira ) were handed over to the Chairman of the Governing Council to a deafening applause. To demonstrate transparency and accountability, bank statements for the entire fundraising period were also handed over to the Chairman of the Governing Council. Furthermore, names of those with outstanding pledges of N3,472,945.75 (Three Million, Four Hundred and Seventy Two Thousand, Nine Hundred and Forty Five Naira and Seventy Five Kobo) were also stated in the accompanying letter.

The Vice Chancellor thanked the #fundLAUTECH team and appreciated them for their efforts and most especially for bringing the issue of LAUTECH to the front burner. He expressed his excitement specifically with the donation for the automation of the transcript process as he recognized that was a major challenge. In his speech, the Chairman of the Governing Council, Prof Afolabi also thanked the team and stated that he is always proud of all the products of LAUTECH that he has met. He spoke about the suggestions made during Bayo Adeyinka's presentation and said he will recommend that fundLAUTECH should be made an arm of the Endowment Office. He also praised the Collaborative Empowerment Programme and said it should be a model that the University should look into. Both the Governing Council Chairman and the VC insisted that we mustn't wind up the Initiative as the institution will need the team as a stakeholder in serving as catalyst in achieving the set goals for the institution.

The #fundLAUTECH team (Bayo Adeyinka, Sola Kolawole, Ropo Egbeleke, Saheed Adetunbi and Olatunde Ajayi-Ope) was supported by representatives of the Parents Forum, Mr Dayo Awodele, Samson Owoyokun, Kola Windapo, Fajobi Oluwatobi and the TVC camera crew that covered the event. Also present earlier on were major stakeholders on the campus which include Prof Tunde Olabiyisi, Dr Samson Ojoawo and Dr Muyiwa Adewale and Dr Mrs Adigun.

We thank everyone who donated to this project and supported in making this initiative a success. We also appreciate the critics of this initiative as they kept us on our toes as we ensured we held ourselves to the highest level of probity and accountability. We encourage everyone not just to complain but think of how to become problem solvers and solution providers. We all can make our corner of the world better if we do our own bit.

Thank you very much and God bless.

Cc lalasticlala