FUTA and Segun Aina Fintech Innovation Fund Sign MOU on Pioneer Fintech Academic Programme

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Monday, November 05, 2019 / 07:35 AM / Nifemi Taiyese  for Proshare WebTV / Header Image Credit: WebTV


On the sidelines of the just concluded 2019 Nigerian Fintech Week, the Segun Aina Fintech Innovation Fund signed a memorandum of understanding, MOU, with the Federal University of Technology Akure (FUTA), for the Pioneer Fintech academic programme.

Described as a landmark achievement in the quest to boost the adoption of Fintech for learning in Higher Institutions, the agreement was signed by Dr Segun Aina, Founder of the Fund and Professor Tomola Obamuyi  the Director  of  The FUTA Advancement Center.

Speaking on the MOU, Dr Aina who is also the Chairman of the Board of FUTA Advancement Center, described the partnership as a major step in expanding the scope of Fintech in the University environment.

He described FUTA as the foremost Tech University in Nigeria and believed that its role in serving as Nigeria's pioneer higher institution for adopting Fintech as a programme, will set the pace for capacity building in the industry.

Dr Aina was pleased with the agreement and believed that it brought to the fore the role of the university environment, as a place for research and innovation. According to him the founders of leading global tech firms, started their innovation journey from the universities.

Speaking further Dr Aina was of the view that the Fintech academic programme adoption, will give room for Nigerians to compete at the global level

At a time when skills will be critical in the application of technology, Dr Aina was confident that the Fintech Industry will benefit immensely from the partnership with FUTA.

According to Aina, "FUTA will  be at the forefront of developing programs in Fintech for Africa as some universities in the developed world particularly in Europe and USA are running courses in Fintech at the certificate, undergraduate and master's degree levels. They are also specializing in some areas like Artificial Intelligence, data management and so on".

He was hopeful that FUTA's adoption of the Fintech in its curriculum will spur other varsities to also embrace innovation and tech-based programmes.

The Segun Aina Fintech Innovation Fund, will focus on giving take-off funding to the university, and scholarships to students who will be enrolling for Fintech programmes.

The Fund will help to facilitate the development of research and innovation in the financial technology space.

Giving his remarks on the MOU Prof. Tomola Obamuyi  the Director of the Advancement Center of FUTA welcomed the partnership, describing the institution as the leading tech university in Nigeria and the right choice for pioneering the fintech studies.

Prof. Obamuyi said the recently developed program which is subject to approval from the  Nigerian Universities Commission, NUC,  will be known as the  Fintech Program at the undergraduate level, with future plans of taking it to the level of postgraduate studies.

Obamuyi commended the Segun Aina Fintech Innovation fund for promoting Fintech development in Universities across the country, through scholarships and academic prizes.

Dr. Konstantinos Tsanis the Head of Wema Bank Innovation Center commended  Dr. Aina's efforts in promoting the Fintech initiative in Nigeria.  He believed the advocacy  for the adoption of  Fintech was apt and critical for the nation.

Speaking further Dr Tsanis said in terms of Fintech and education in Nigeria, the establishment of the program was a step in the right direction.

According to him 7 out of the 10 Ivy League institutions in the United States of America have established explicit Fintech Programs.

Dr Aina also announced plans to institute a Segun Aina Fintech Innovation Fund which will be funded from time to time with contributions from partners  to give take-off funding to the university, and scholarships to students who will be enrolling for Fintech programmes.

The Fund will help to facilitate the development of research and innovation in the financial technology space.

The briefing had in attendance the representative of FUTA Prof. Tomola Obamuyi; The Director University Advancement Center, Dr. Segun Aina OFR; President Fintech Association of Nigeria, Ms. Mary Aina Director, Remote Banking & Shared Services Technology Canadian Imperial Bank of Commerce (CIBC), and Dr. Konstantinos Tsanis Chief Innovation and Data Officer WemaALAT.

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