…KCOBA launches N100bn endowment fund

By Adesina Wahab

The Federal Government and the King’s College Old Boys Association, KCOBA, have reached an agreement to concession the college to the old boys association, the President of KCOBA, Alhaji Kashim Ibrahim-Imam, has said.

This is just a as the old boys have launched a N100 billion endowment fund to reposition the 116-year-old college.

Among the first set of donors to the fund are the First Lady of Nigeria, Mrs Oluremi Tinubu, who donated N10m and Ibrahim-Imam who donated N1 billion.

Also, N100 million each was donated by the former Board of Trustees (BoT) Chairman, Chief Philip Asiodu and the association’s new Board Chairman, Alhaji Femi Okunnu,

Briefing the press at the school premises yesterday, Ibrahim-Imam lauded President Bola Tinubu for approving the concession agreement and promised that the association would not disappoint stakeholders or betray the confidence reposed in them.

The concession is intended to finance infrastructure renewal, teacher development, digital technology, scholarships, innovation, research and students’ welfare.

Ibrahim-Imam described the development as a defining moment in the history of the college and a potential blueprint for the renewal of public education in Nigeria.

He noted that the arrangement would enable the old students’ association to partner with the government in upgrading the school’s infrastructure, strengthening governance and improving learning outcomes without altering its ownership.

He allayed fears that the government has sold the college to the association, saying that it was not also a privatisation agreement.

“Rather, it is the establishment of a new governance framework through which KCOBA will partner with Government to restore, strengthen, modernise, and sustain one of Nigeria’s greatest educational institutions.

The heritage of King’s College remains intact.

Its identity remains intact. Its national significance remains intact. Its public character remains intact.

“Today, we gather at a truly defining moment—not merely in the history of King’s College Lagos, but in the continuing evolution of public education in Nigeria. There are occasions that simply mark the passage of time, and there are occasions that redefine history. Today belongs firmly to the latter.

“The approval by the Federal Government of the concession of King’s College Lagos to the King’s College Old Boys’ Association represents one of the most consequential developments since the establishment of our great institution in 1909. For over one hundred and sixteen years, King’s College has stood as one of the most respected symbols of educational excellence on the African continent. It has nurtured generations of exceptional Nigerians who have distinguished themselves in public service, diplomacy, business, academia, medicine, engineering, the military, the judiciary, technology, and virtually every sphere of national life.

“Its graduates have shaped governments. They have built industries. They have transformed communities. They have defended democracy. They have served humanity. Yet, as proud as we are of our history, we have also watched, with growing concern, the gradual deterioration of many of the facilities, systems, and structures that once made King’s College the undisputed standard bearer of secondary education in Nigeria.”

He commended the Minister of Education, Dr Tunji Alausa, for his support and understanding.
Giving an insight on how the journey to the concession approval began, he stated, “This historic milestone did not happen overnight. It is the culmination of years of careful planning, sustained advocacy, constructive engagement, and unwavering commitment by generations of Kingsmen who refused to accept that decline should define the future of their alma mater.

Many individuals, past and present, have invested countless hours, immense personal resources, and extraordinary intellectual capital towards making this day possible.

We acknowledge every former President of KCOBA. Every Trustee. Every Executive Committee. Every volunteer. Every class set.

Every Kingsman who refused to stop believing. Today belongs to all of them.”