Five (5) exceptional 300-level students of the Department of Insurance and Actuarial Science, Faculty of Management Sciences, University of Lagos (UNILAG), have earned the prestigious Funmi Babington-Ashaye (FBA) Foundation Scholarship Awards.
The awardees are: Adeyoola Oluwadamilola Adetoro; Adekunle Deborah Motunrayo; Adeleye Oluwatoyin Mercy; Adebowale Adeleke Oluwadamilare; and Olufemi Adeboro Godwin.
Honouring Excellence and Inspiring the Next Generation
The awards presentation ceremony, held on Tuesday, August 19, 2025, at the Office of Advancement, UNILAG, recognised the students for their exceptional performance and dedication to academic distinction in their field.
The event was chaired by the Dean, Faculty of Management Sciences, UNILAG, Professor Abdul-Hameed Adeola Sulaimon, who praised the recipients for their commitment to scholarship and applauded the generosity of the Funmi Babington-Ashaye Foundation.
Professor Sulaimon commended Dr. (Mrs.) Funmi Babington-Ashaye and her family for their unwavering investment in education, which has positively impacted the faculty for over five years.
He noted that the Foundation’s commitment to the award scheme remains a source of inspiration to the students of the faculty to aim higher and achieve greatness. He further expressed the faculty’s wish for a future expansion of the partnership with FBA Foundation, beyond scholarship awards to supporting faculty development and infrastructure, further enriching the UNILAG community.
A Charge to Dream Bigger, A Legacy of Giving Back
The General Manager, Risk Analyst Insurance Brokers Limited, Mr Sunday Oyeniyi, who spoke on behalf of the donor, Dr (Mrs) Funmi Babington-Ashaye, appreciated the University of Lagos management for its consistent warm reception to the Foundation since commencement of the scholarship scheme.
Congratulating the award recipients, he charged them to consider the award as recognition of their hard work and a motivation to do more. Mr Oyeniyi charged them to dream big to be able to bestow such awards upon future generations in their alma mater as well.
Noting that the donor was once a student of insurance who has now become a force to reckon with in the insurance industry, he further encouraged the recipients to see themselves as individuals who would grow to achieve greater heights in whatever field they chose to establish themselves in the future.
He urged the awardees not to be deterred by huddles they may encounter along their academic and career paths, but to remain disciplined, resilient and firm in their determination to achieve greatness.
Afterwards, Mr. Oyeniyi and Professor Sulaimon presented the scholarship awards to the students.
L-R (back row): Adeyoola Oluwadamilola Adetoro; Olufemi Adeboro Godwin; Adekunle Deborah Motunrayo; Adebowale Adeleke Oluwadamilare; Adeleye Oluwatoyin Mercy
Student Voices: A Light Has Been Lit
Speaking on behalf of the scholarship recipients, Miss Deborah Motunrayo Adekunle expressed heartfelt gratitude to the Funmi Babington-Ashaye Foundation for the recognition and award. She asserted that the awardees would go forth to make the most of the scholarship award, and make the Foundation and UNILAG proud.
Planting the Future, Together: A Partnership Rooted in Purpose
Director, Office of Advancement, UNILAG, Dr Taiwo F. Ipaye, extended the University’s appreciation to the Funmi Babington-Ashaye Foundation for keeping faith with its yearly commitment to the scholarship award. She indicated that the awardees were the best of their class, and receiving the award served as a pointer to the fact that excellence is always rewarded.
She joined voice with Mr Oyeniyi, the representative of FBA Foundation, that the scholarship is indeed Dr Funmi Babington-Ashaye’s way of encouraging and developing young minds and that in years to come, the students will appreciate the essence of such efforts.
Reading out the quote of the day from the Office of Advancement’s webpage which says: “When you give back to the school that shaped you, you plant seeds for those who come after you”, Dr Ipaye charged the scholarship awardees to remember the magnanimity of FBA Foundation today and let it inspire them to also come back in about ten (10) years or less, when they are comfortable, not until they’re rich, to give back to the University of Lagos and in turn, inspire the young minds of that time.
She invited them and other alumni to partner with the Office of Advancement, UNILAG in building a better future for upcoming Akokites.
Carrying the Torch Forward
The event concluded with smiles, photographs, handshakes, and a presentation of a token of appreciation to representatives of the Funmi Babington-Ashaye Foundation, Mr Sunday Oyeniyi and Ms Kehinde Adeyeye, but the true impact of the ceremony lies in the silent resolve it planted in the hearts of the awardees and the inspiration it offered their peers.
The Funmi Babington-Ashaye Foundation has, once again, shown what is possible when passion meets purpose; unlocking potentials, shaping futures, and rewriting stories.
And as the five young stars returned to their studies, holding award letters that symbolise more than financial relief, they carried with them a deeper understanding: that excellence is both a gift and a responsibility, and the journey has only just begun.
Founded by Dr (Mrs) Funmi Babington-Ashaye, the Managing Director/CEO of Risk Analyst Insurance Brokers Limited, the Funmi Babington-Ashaye Foundation is a non-profit organisation committed to empowering women and young professionals through mentorship, education, and advocacy. Its scholarship program reflects the Foundation’s vision of creating opportunities for personal and professional growth, ensuring that talent meets opportunity for the leaders of tomorrow.
The University of Lagos celebrates these awards as a significant milestone in its mission to nurture talent, inspire innovation, and champion excellence. The partnership between UNILAG and the Funmi Babington-Ashaye Foundation stands as a model for how alumni-driven philanthropy can transform lives and shape the future.
Author: Nike Ogunshakin
Photographer: Ayomide Oloyede
Article Editor: Adejoke Alaga-Ibraheem
6 responses
Excellent philanthropic gesture
Giving is an attribute of GOD because He gave us JESUS
Thank God for the good work, I love my lecturers at the Faculty of Management Sciences, University of Lagos for their unwavering supports to students. They are very polite and approachable in all areas both in learning, advice and characters.
I am always happy whenever I see excellence being rewarded. It’s a catalyst for a higher performance. Congratulations to the recipients for standing out
And to the foundation, your good work will continue to speak for you
This is commendable and encourages more reliance to the recipients
Great work…highly commendable