In a powerful act of philanthropy and vision, the Isiaq Family Foundation (IFF) has unveiled a ₦100 million endowment for the advancement of Accounting education at Summit University, Offa (SUN, Offa). The historic announcement was made by the foundation's founder, Alhaji Kola Isiaq-Balogun, during the 11th Triennial Conference of the Ansar-Ud-Deen Society of Nigeria in Abeokuta, Ogun State.
The endowment represents a landmark investment in the future of higher education and professional development in Nigeria. Designed with strategic impact in mind, the funds will open new doors for both students and faculty in the Department of Accounting.
A major part of the endowment will provide annual scholarships to support eight undergraduate Accounting students for the next four years, reducing financial barriers and promoting academic excellence. The fund will also establish a Professorial Chair in Accounting, ensuring strong academic leadership and a focus on innovative research.
To further enhance scholarship and practical learning, the Isiaq Family Foundation has allocated part of the funds for a dedicated research grant and the establishment of a cutting-edge Accounting Technology Laboratory (AccTech Lab). This facility will feature modern computing equipment, furnishings, and learning tools tailored for accounting students.
In a bid to motivate excellence, the Foundation has also introduced perpetual awards for the Best Graduating Male and Female Students in Accounting. Furthermore, the endowment includes provisions for a solar-powered energy solution and internet facilities to support the operation of the AccTech Lab and ensure uninterrupted access to digital resources.
“This contribution is a token of my commitment to empowering the next generation through access to quality education,” said Alhaji Isiaq-Balogun. “ Summit University stands as a beacon of academic excellence rooted in Islamic values, and it deserves the support of all well-meaning individuals. ”
Alhaji Kola Isiaq-Balogun, a distinguished Accountant with a professional footprint in both Nigeria and the United States, also serves as the Chairman of Ansar-Ud-Deen Society North America. Together with his wife, Alhaja Kafayat Isiaq-Balogun, the couple represented the IFF during the formal signing of the Memorandum of Understanding (MoU) and presentation of the donation cheque to Summit University officials.
Representing the University were Engr. Nurudeen Adeagbo, Chairman of the Board of Trustees, SUN Offa; Professor Abiodun Musa Aibinu, Vice-Chancellor; and Mallam Mustapha Abayomi Kadiri, Acting Registrar. Engr. Adeagbo expressed heartfelt appreciation to the Foundation, stating, “This is not just a donation; it is an investment in countless futures.