ICOBA Raises Over ₦1 Billion in One Week Toward ₦10 Billion Endowment at 94th Founders’ Day
The Igbobi College Old Boys’ Association (ICOBA) has raised over ₦1 billion within seven days toward the ₦10 billion Endowment Fund launched during the 94th Founders’ Day celebration of Igbobi College.
The President of ICOBA, Mr. Yomi Badejo-Okusanya, disclosed the milestone on Sunday evening at the Founders’ Day Luncheon and Merit Awards held at the Reverend Angus Memorial Hall, Igbobi College, Yaba, Lagos.
The event, organised by a planning committee chaired by ICOBA Vice President Mr. Femi Soremekun, brought together alumni, distinguished guests, and stakeholders in a celebration that blended tradition with forward-looking ambition.
Describing the rapid fundraising achievement as a strong vote of confidence in the college’s future, Badejo-Okusanya said:
“Within just seven days of the creation of the ₦10 billion Endowment Fund for Legacy and Transformation, we have crossed over the one billion Naira mark. This response reflects the deep loyalty of old boys and friends of Igbobi College.”
According to him, the endowment fund is designed to provide sustainable financing for infrastructure development, scholarships, staff welfare, and academic excellence.
“As ICOBA, we are committed to restoring Igbobi College to its pre-eminent position by investing in innovation, character building, and leadership development,” he added.
He stressed that institutional endowments play a critical role in preserving educational standards and building enduring legacies, urging alumni and stakeholders to sustain the momentum.
“This is a landmark initiative. I encourage every Old Boy to participate actively so that together we can create a lasting legacy for future generations,” he said.
The 94th anniversary celebration was described as both reflective and innovative, reinforcing the college’s core values of discipline, integrity, service, and leadership.
Among those who spoke at the event was Prof. Anthony Kila, an alumnus of the college, who described the luncheon and awards ceremony as a significant part of the Founders’ Day tradition.
Kila, a jurist and political economist, noted that honouring distinguished old boys also serve to inspire other old students to pursue excellence.
“The ₦10 billion fund is a testament to our respect for the past, our faith in the present, and our desire to shape a brighter future for Igbobi College,” he said.
“We believe that by raising the endowment fund, we can shape the future of this school to be one of the best in Africa, if not in the world.
A society that values education trains people who believe they can shape society — and that is what this is all about”, the popular don added.
ICOBA Publicity Secretary, Mr. Femi Bankole, described the anniversary as a launchpad for renewed alumni engagement.
“This milestone is about strengthening alumni networks, supporting teachers, and empowering students to excel academically,” he said, adding that recent achievements — including strong examination results and the construction of teachers’ residential blocks — reflect sustained investment in excellence.
Also speaking at the event was Mr. Jimi Agbaje, former Lagos State governorship candidate and an alumnus of the college. He commended ICOBA for articulating a clear and ambitious vision.
“Igbobi College has shaped leaders across sectors. ICOBA’s endowment initiative ensures that this legacy will not only endure but grow stronger,” Agbaje said.
The Founders’ Day luncheon began with a church service and concluded with dining and dancing, as distinguished alumni — many of whom were once schoolboys together — celebrated shared history and renewed commitment to their alma mater.
With over ₦1 billion already secured within a week, ICOBA’s ambitious ₦10 billion target signals not only financial aspiration but a broader determination to safeguard the future of one of Nigeria’s most historic educational institutions.
