Scholarship

UNIFEMGA Scholarship

THE OBAFEMI AWOLOWO UNIVERSITY ILE-IFE MUSLIM GRADUATES ASSOCIATION, (UNIFEMGA), SCHOLARSHIP AND INDIGENT STUDENTS’ ENDOWMENT FUND

“The parable of those who spend their substance in the way of Allah is that of a grain of corn: it groweth seven ears and each ear hath a hundred grains. Allah giveth manifold increase to whom He pleaseth; and Allah careth for all and He knoweth all things”. Q2:261

INTRODUCTION
Poverty, as well as lack of opportunities, encouragement and motivation are some of the challenges, which numerous brilliant and energetic young muslims have to contend with in their quest for academic attainment. Many indigent students are locked in the poverty trap because they graduate with low grades, which make them less competitive in the labour market. Thus, unemployment becomes additional burden to them, their already poor parents and the Muslim Ummah.

Consequently, in order to assist these brothers and sisters to break out of the poverty cycle, UNIFEMGA wishes to partner with brothers and sisters, friends and organizations to establish a N20,000,000.00 (twenty million naira) Scholarship and Indigent Students’ Endowment Fund. The Fund will be used to assist qualified Muslim students of Obafemi Awolowo University in the pursuit of their academics.

The goals of this programme are:

1. Encourage the pursuit of academic excellence and scholarship among Muslim students;
2. Financial assistance to indigent Muslim students;
3. Enhance female enrollment and retention in tertiary institutions of learning;
4. Improve academic performance.
5. Encourage the development of entrepreneurial skills in favour of self-employment instead of total dependence on salaried jobs.

CATEGORIES OF AWARD

1. Academic Excellence Scholarship

This category of award is to assist Muslim students who excel in their course of studies. The aim is to help such students improve or sustain their performance and ultimately encourage others to excel. The current estimate for award in this category is Sixty Thousand (N60,000) Naira per annum per beneficiary. At least two awards will be given yearly – one each to a female and male student. The duration of the award shall be one year and may be renewable subject to continued excellent performance.

1. Indigent Students Support Grant

Awards in this category shall be given to brothers and sisters that are validly enrolled as students in the university but who find it difficult to stay in school or focus on their studies due to lack of funds. It is estimated that an award in this category shall be N50,000 (fifty thousand naira) per annum per beneficiary. As may be advised from time to time by the scholarship committee, a part of this amount will be used to pay the beneficiaries’ tuition while the balance will be given as book and food subsidy. The amount stated may be reviewed upwards in consonance with economic reality and with approval of the committee.

CLASSIFICATION OF DONATIONS

a) Donations of N500,000 and above: At the request of the donor, the gift may be placed in permanent investment and tracked separately. Donor-named award(s) will be distributed annually for academic discipline and/or gender as specified by the donor.

b) Donations of N250,000 - N499,999: At the request of the donor, the gift may be placed in temporary investment and tracked separately. Donor-named award(s) will be distributed annually for academic discipline and/or gender as specified by the donor until the funds are deemed to be depleted.

c) Donations of N50,000 - N249,999: Donors in this category may request that the donation be placed in a Restricted General Fund. A donor-named award will be given for a limited time and for the donor-specified academic discipline and/or gender.

d) Donations less than N50,000: Donations in this category will be placed in the unrestricted general fund and investment tracked as a group. Award names and opportunities (academic discipline and gender) are at the discretion of the UNIFEMGA.

UNIFEMGA will issue a receipt for all donations.
A donor may move up to a higher category by simply adding to the donation.
Donors will get an annual statement of account stating name of  recipient(s) of the award.
All donations to this fund qualify for Zakat and tax exemption.

ADMINISTRATION

The fund shall be administered by UNIFEMGA through a scholarship committee. The committee shall comprise of the following:

1. UNIFEMGA National President
2. Chairman, OAU Muslim Community
3. One senior Muslim academic staff of OAU
4. A representative of MSSN, OAU (Amir)
5. Chairman UNIFEMGA MSS OAU Empowerment Committee
6. Chairman, UNIFEMGA, Ile- Ife chapter

Contributions and donations can be made into the following bank account:

Account Name: Unifemga Scholarship Fund
Account Number: 05420110000089
Bank:   United Bank of Africa
Branch: Ogba, Lagos State

An Investment Committee will be set up to manage the investments of the funds in Halal businesses and a quarterly financial statement of the Fund will be produced and circulated to key donors. An external audit firm will be appointed to audit the financial records of the Fund. 

As may be advised by the Scholarship Committee, a percentage of the annual returns and proceeds of the investment will be used to fund annual scholarships while the principal investment and outstanding proceeds will be re-invested to ensure the ongoing sustenance of the fund.

Enclosed is a contribution form (Appendix I) to help you participate in this vital project. If you would like more information about the Fund, please feel free to contact any of:

1.         Mr. Tunde Popoola (UNIFEMGA National President)
Email: abpopoola@yahoo.com; Phone: 08033024307

2.         Dr. (Mrs.) Lateefah Durosinmi (current Dean of Student Affairs, OAU, Ile Ife)
Email: lateefahdurosinmi@yahoo.com; Phone: 08037271817

3.         Mr. Niyi Yusuf (Partner, Accenture)
Email: niyi.yusuf@accenture.com; Phone: 08032012408

4.         Mr. Ismail Hamzat (Engineer, Shell)
Email: hamzat@gmail.com; Phone: 08025015375

 

“And whatever ye spend in charity or devotion, be sure Allah knows it all”. Q2:270

“Those who give in charity, both men and women, and lend unto Allah a beautiful loan, it shall be increased manifold (to their credit) and they shall have (besides) a rich reward”. Q57:18

UNIFEMGA makes a passionate plea for generous donations to the Fund. It will enable us empower our youth to take their rightful place in society by making worthwhile contributions.