The economy of Nigeria is increasingly dependent on remittances from its citizens residing in Diaspora. According to a report by PricewaterhouseCoopers (PwC), the inflow of remittances by Nigerians in Diaspora rose to an estimated $25 billion in 2018, making it the highest in sub-Saharan Africa.
Nigeria’s citizens living outside the country are either funding the educational pursuits of family members or supporting their economic upkeep. Emphasis has to be placed on education to allow for the social and economic development of its citizens.
The belief in education as a major force to secure the future of young Nigerians was the impetus for the establishment of the IA- Foundation.
The IA- Foundation, a United Kingdom based organisation has introduced an endowment fund for the best accounting student in Olabisi Onabanjo University, Ogun State, Nigeria.
Mrs Ibironke Adeagbo, founder of AI-Foundation, former chairman of the Institute of Chartered Accountants of Nigeria UK branch (ICAN) UK and former Treasurer, Central Association of Nigerians in the UK (CANUK) visited Olabisi Onabanjo University, her former university on the 30th of May 2019 and donated a cheque to set up an endowment fund for the best accounting student.
One of the objectives of IA- Foundation is to reward excellence in education. In a chat with African Voice Newspaper, Mrs Adeagbo said, “The purpose of the endowment is to enable the accounting students strive to achieve excellence in their studies and ultimately in their career.”
No wonder the government of Nigeria is hoping to effectively harness the resources of its citizens in the Diaspora with the establishment of the Nigeria Diaspora Commission with Mrs Abike Dabiri – Erewa as the Chairman.
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