LAGOS State University (LASU) has entered into a Memorandum of Understanding (MoU) with Lotus Bank Limited, one of the country's leading non-interest financial institutions. The collaboration aims to launch a multi-purpose card and lifestyle application project that will serve as an identification and payment card for LASU's staff and students.
The MoU signing ceremony, which took place at the Vice-Chancellor's Office on the main campus of LASU, on Tuesday, March 27, 2024, was attended by the Heads of both Institutions. Prof. Ibiyemi Olatunji-Bello, LASU's Vice Chancellor, and Mrs Kafilat Araoye, Managing Director of Lotus Bank Limited, led the event.
Under this partnership, Lotus Bank Limited will develop a digital lifestyle application that LASU will deploy for the benefit of its staff and students. The key focus of this project is to seamlessly integrate digital identity management systems, financial transactions, e-commerce, and lifestyle management systems into a single, user-friendly platform.
In a statement, the Vice-Chancellor expressed the University's commitment to embracing technological advancements and streamlining administrative processes. The introduction of the multipurpose card and lifestyle application signifies LASU's dedication to providing its staff and students with a secure and convenient means of accessing various campus services.
Mrs Araoye, in response, assured that Lotus Bank Limited would professionally deliver the services outlined in the MoU. She highlighted the Bank's expertise in the digital space, stating that they are already ahead of several older banks. She emphasised that this partnership with LASU is the beginning of an epoch-making event that will greatly benefit both institutions.
The MoU is expected to further support LASU's ongoing efforts to become a fully digitalised University and position itself as the top University in West Africa. With the collaboration between LASU and Lotus Bank Limited, the University aims to provide a cutting-edge campus experience while setting a new standard for digital solutions in higher education.
The MoU signing ceremony was attended by other members of the University management, including the Registrar, Bursar, University Librarian, and representatives from the Directorate of Information and Communication Technology (DICT), and other key individuals involved in the collaboration.
