The University of Agriculture in Abeokuta
(UNAAB) has received a N500 million special
grant from the Central Bank of Nigeria (CBN)
to upgrade its facilities. Prof. Olufemi Balogun, Vice Chancellor of the institution, disclosed this in an interview with the News Agency of
Nigeria (NAN) on Tuesday in Dutse, Jigawa.
He said that he was in Dutse to announce the conferment of a doctorate degree in agriculture on the state governor, Alhaji Sule Lamido. He said that the donation would encourage the university to
improve on its academic and other relevant programmes aimed at making the nation self-sufficient in food production.
``It will also enable the university to maintain its leading position as the best university of agriculture, not only in Nigeria, but in the whole of the African continent.
``The University of Agriculture, Abeokuta, is ranked, not only as the best university in Nigeria but the whole of Africa and that is why CBN gave us this money to boost our academic programmes as well as upgrade our facilities,’’ he said. The VC said that more priority would be given to the
improvement of courses like veterinary medicine,
agricultural engineering, agricultural economics and
agronomy, among others. Balogun said that the grant would also be used for general renovation and erection of more structures in the university. NAN reports that the 20th convocation of the university comes up on May 5. Apart from Gov Lamido, other recipients of the university’s honourary awards are Mrs Obiageli Ezekwesili, the Vice President of the World Bank (Africa Region) and Chief Jonathan Olopade, an elder statesman and business magnate in Abeokuta, Ogun.


source dailytrust

I still don't get it. When did the CBN get the authority to donate money, period? How does this fall within its mandate?

I have never heard of any of the Federal Reserve Banks in the US donating money to universities, charities, etc.

What part of its budget is meant for this purpose?

no be today

the laws soludo pursue with all alacrity to make cbn independent is now in another mans hand

http://www.dawodu.com/aluko118.htm

.

What gave CBN the right to donate money Unheard of

@LL the activists in nigeria dont you guys think its bout time we send this dust brain packing.is this act of his even constituional? i know the cbn has authority to provide funds for activities that re directly in line with its fundamental operation but this is just absurd.First uniben.then boko haram victims as if he is unicef or ukaid now this does this guy think the universe revolves.around him or what?

very soon CBN will sponsor folks to Mecca and Jerusalem for pilgrimage.

I still don’t get this donation thing by Lamido. Very soon, he will donate to Boko Haram Group.

The CBN has a board of directors that approve things like this. If it was unconstitutional why haven't they come out to say something?

For those of you saying its unconstitutional, I'll like you to quote a part of the Nigerian constitution that stops parastatals from performing CSRs.

The topic of this post is MISLEADING!!! It is NOT a donation
but a SPECIAL GRANT as is clearly stated in the first sentence
of the news report.

As to whether the CBN is well within its powers to award grants?
That I do not know.

Not again sanusi!!! Is that what u r taught in schl

If the president with his powerful financial team cannot fix thing then let the man continue donating. na wa for GEJ o!

Grant not donation.

Btw,where is all these monies coming from?Strange things happen in Nigeria.This is no news kpa kpa.

alj harem: What gave CBN the right to donate money Unheard of

Food project...

lol some people are talking about constitution,what if the money was transferred to a foreign account?

Am so proud of d VC of UNAAB n proud to b an alumni of d school, its because d CBN gov have seen d steps d school is takin in combating food problem in nigeria and talk in terms of structure n environment of d school, as far as am concerned is still d best, also producing graduate who r self sufficient nt waiting for any govt job before they can stand on deir own. I believe the school will spend the money wisely.

yes ooooooooooo.

Can't just understand how some people reason, if one chop money u say is corruption. To carry money do better thing, una talk nonsense

It seems that Gej is afraid of this man sanusi cos i dont see any reason why he is still there.From one confusionist policy to the other.His favourite pasttime now is dooling out our money without our mandate in the name of CSR.Whether grant,loan or wateva.
All this uni wey d find money.Just give him an hon.Docorate degree and u are sure of 500 milln in ya bank acct

Una think say sanusi support for subsidy removal was for free? Hahaha. Why can't u guys be courageous enuf to use the FOI to find out if cbn is right or wrong rather than askin questions here on NL.

So much has been written, said and analyzed on Ngozi Okonjo Iweala's candidacy for World Bank President and what it means for the international community, but it seems there has been little emphasis on what ordinary Nigerians really feel about this issue. What do you think about NOI's candidacy for the world bank? Do you feel it is high time an African woman took over the reigns of the World Bank? Do you feel Ngozi's skills and expertise are more needed in Nigeria? Pls express yourself and take part in this short survey here: http://svy.mk/GW4nDU

gidiMonsta: The CBN has a board of directors that approve things like this. If it was unconstitutional why haven't they come out to say something?

For those of you saying its unconstitutional, I'll like you to quote a part of the Nigerian constitution that stops parastatals from performing CSRs.

The CBN has no authourity whatsoever to do this. It is unlawful, unconstitutional, irresponsible, and amounts to setting up an anarchic parallel government. Please review the position of the law here -

https://www.nairaland.com/892617/response-funke-aboyades-defence-sanusis

CBN has power to bailout any business or project or technology that is important to nigeria.. the correct word is Bailout. he can bailout or donate to private universities.

Some of the funding of google is from the US govt. It make investment in area. that they think best. The US investment on a website which it wanted to use for intelligent . US govt invest in business.

If I was in the US, i would get so much money. that i will shiit in money from my toilet. because they invest in technology.

Deep Sight:


The CBN has no authourity whatsoever to do this. It is unlawful, unconstitutional, irresponsible, and amounts to setting up an anarchic parallel government. Please review the position of the law here -

https://www.nairaland.com/892617/response-funke-aboyades-defence-sanusis

when Soludo was doling out money for golf tournament and universities it was lawful abi?

and btw if its unconstitutional why arent the senators and reps screaming impeachment surely they are not exactly on his side

Hmmn

Dis Guy:

when Soludo was doling out money for golf tournament and universities it was lawful abi?

and btw if its unconstitutional why arent the senators and reps screaming impeachment surely they are not exactly on his side

Ans is because they are damn Pu/ssies who are afraid to speak and act... Lawmakers who don't even know from their left to their right are people whom you think would go challenge someone who's intelligent than they are, NEXT.

jkeva: Am so proud of d VC of UNAAB n proud to b an alumni of d school, its because d CBN gov have seen d steps d school is takin in combating food problem in nigeria and talk in terms of structure n environment of d school, as far as am concerned is still d best, also producing graduate who r self sufficient nt waiting for any govt job before they can stand on deir own. I believe the school will spend the money wisely.

@jkeva, u b alumni? Coz i graduated last year too... @all, Its a GRANT NOT DOnation...

i dont this right even our constitutional allow it, why allow such a government financial body dish out money on their own, it will only take on bad guy use the whole nation resource to harm that same nation,
Or how are we sure they are not donating money to boko haram

Because the money is there and they give it to any one who cat their fancy,or who they fill pity for

I cant understand this

i dont think this is right even if our constitutional allow it, why allowing such a government financial body to dish out money at their own or at will (the money that belong to a whole nation), it will only take one bad guy to use the whole nation resource to harm that same nation,
Or how are we sure they are not donating money to boko haram

Because the money is there in their possession and they give it to any one that catch their fancy,or who they fill pity for

I dont understand this country