Lotus Bank and Yaba College of Technology (Yabatech) have reaffirmed their commitment to a stronger institutional partnership that will drive digital innovation, student empowerment, and infrastructural renewal.
The partnership comes as the 77-year-old federal institution advances plans to become a specialised University of Technology.
At a meeting held in the College's Council Chamber, a delegation from Lotus Bank, led by the Chief Digital Officer, Akin Adegoke, met with the Rector, Dr. Ibrahim Adedotun Abdul, and principal officers of the College to discuss new areas of collaboration.
Speaking during the session, Adegoke described Yabatech as "landlord of one of Lotus Bank's most significant branches", emphasising that the bank's objective was to go beyond conventional banking by investing in digital transformation, financial literacy, and youth empowerment.
He noted that Lotus Bank, Nigeria's first fully recapitalised non-interest financial institution under the Central Bank of Nigeria's 2026 directive, has successfully implemented similar partnerships with the Lagos State University, University of Ilorin, University of Lagos, and Kwara State Government.
According to him, these collaborations have yielded initiatives such as smart identity cards, payment solutions, and corporate social responsibility (CSR) projects.
Adegoke stated: "Our objective is to expand this partnership beyond financial services.
"We are committed to co-developing a digital banking curriculum with Yabatech, supporting annual hackathons, and building smart campus solutions that will prepare students for the future of work."
He added that Lotus Bank would also support student cooperative financing, provide digital training opportunities, and enhance access to financial products that encourage inclusion and innovation.
In his response, Engr. Abdul commended Lotus Bank for starting its engagement with CSR contributions before formal business dealings, a gesture he described as "a demonstration of sincerity and long-term commitment".
He stressed that Yabatech's vision was to make its graduates "irresistible in the labour market", a goal that, according to him, could only be achieved through strong industry partnerships.
He said: "Our determination is to build partnerships that directly benefit our students and improve our infrastructure as we move toward becoming a University of Technology and Vocational Studies."
Abdul highlighted the College's N50 billion endowment fund, launched in 2022, which has been designed to upgrade aging infrastructure and support innovation projects.
He stressed the importance of the partnership, pointing out possible areas of intervention such as staff housing through Yabatech Homes Limited, online learning platforms, joint certification programmes, and expanded Wi-Fi access across the campus.
Both parties agreed to roll out the partnership in phases, beginning with the introduction of smart ID cards for students and staff, and deployment of digital payment systems within the college community.
Additional proposals on student internships, event sponsorship, and event cooperative society financing were also tabled for implementation.