Five outstanding 300-level students of the Department of Insurance and Actuarial Science, Faculty of Management Sciences, University of Lagos (UNILAG), have been awarded the distinguished Funmi Babington-Ashaye (FBA) Foundation Scholarship.
The recipients are Adeyoola Oluwadamilola Adetoro, Adekunle Deborah Motunrayo, Adeleye Oluwatoyin Mercy, Adebowale Adeleke Oluwadamilare, and Olufemi Adeboro Godwin.
The award presentation ceremony, held on Tuesday, 19 August 2025, at the UNILAG Office of Advancement, honoured the students for their academic distinction and commitment to excellence.
Chairing the event, Professor Abdul-Hameed Adeola Sulaimon, Dean of the Faculty of Management Sciences, commended the recipients for their hard work and lauded the FBA Foundation for its continued investment in education. He highlighted the Foundation’s enduring partnership with the faculty, which has spanned over five years, and expressed hope for future collaborations that would extend to faculty development and infrastructure.
Representing the donor, Mr. Sunday Oyeniyi, General Manager of Risk Analyst Insurance Brokers Limited, congratulated the awardees and urged them to view the recognition as both a reward and a motivation. He encouraged them to dream boldly, pursue excellence, and one day give back to their alma mater by supporting future generations of students.
Drawing inspiration from Dr. (Mrs) Funmi Babington-Ashaye’s journey—from a UNILAG insurance student to a trailblazer in the insurance industry—Mr. Oyeniyi advised the recipients to remain resilient and disciplined as they pursue their career ambitions. Following his remarks, he joined Professor Sulaimon in presenting the awards to the students.
Speaking on behalf of the awardees, Miss Deborah Motunrayo Adekunle expressed deep appreciation to the FBA Foundation. She pledged that the recipients would use the scholarship to excel further and make both the Foundation and UNILAG proud.
The Director of the UNILAG Office of Advancement, Dr. Taiwo F. Ipaye, also praised the Foundation’s consistent support, describing the awardees as the brightest in their class. She emphasised that the scholarship reflects the Foundation’s commitment to nurturing young minds and reminded the students that giving back is an essential responsibility of all alumni. Quoting the Office of Advancement’s motto, “When you give back to the school that shaped you, you plant seeds for those who come after you,” Dr. Ipaye urged the recipients to emulate Dr. Babington-Ashaye’s example by supporting the institution in the future.
The ceremony ended with presentations of appreciation to representatives of the FBA Foundation and group photographs. Beyond the formalities, the true impact of the event lay in the inspiration it offered both recipients and their peers—a reminder that excellence, once recognised, becomes a responsibility to inspire others.
Founded by Dr. (Mrs.) Funmi Babington-Ashaye, Managing Director/CEO of Risk Analyst Insurance Brokers Limited, the FBA Foundation is a non-profit organisation dedicated to empowering women and young professionals through mentorship, education, and advocacy. Its scholarship programme reflects the Foundation’s vision of creating opportunities for personal and professional growth, ensuring that today’s students become tomorrow’s leaders.
For UNILAG, this scholarship scheme stands as a milestone in its mission to nurture talent, promote innovation, and champion excellence through purposeful alumni engagement.
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