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Smith woos Nigerian MSMEs to tap in to idle £25bn in UK bank

The Chairman, British Africa Business Alliance, Mr. David Smith, has called on small scale business owners in Nigerians to come forward with business plans to utilise 25 billion pounds held in banks accounts in the United Kingdom by Africa savers looking for opportunity to invest. Delivering a lecture at the 20th Convocation ceremony of the Igbinedion University, Okada, Smith stressed that universities needed a new relationship with business for their funding and development of society in all sectors. He disclosed that 99 percent of businesses in the UK are Micro, Small and Medium Enterprises (MSMEs), saying “That is where our employment is, that where our wealth is” but noted that in Nigeria, MSMEs account for only three percent. Smith stated that the university is not just about graduating students but applying knowledge acquired to advance society in terms of development.

Declaring the ceremony open, Deputy Chancellor of Igbinedion University, Chief Lucky Igbinedion, who represented the Chancellor, Chief Gabriel Igbinedion, the Esama of Benin, said the event marked another milestone in the trajectory of the university as it turns out yet another set of “Blue-sky graduates who are eager to contribute their quota to nation building.

Earlier, in his address, the Vice Chancellor of the University, Prof. Lawrence Ezemonye, said; “This year’s convocation is particularly significant as we celebrate 23 years of academic excellence and two decades track record of timely graduation and unbroken convocation.

 

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