CBN commits N435m to 24 vasity projects

The Central Bank of Nigeria (CBN) has committed a sum of N435 million to capacity building in Nigerian universities as part of its involvement in community based activities in the country.

BusinessMetricsNG gathered via information available on the official website of the apex bank in the land that the sum has been approved for various projects in recent times.

Since the late 1990s, the CBN has expanded its involvement in community based activities beyond sporting development to include other areas of community development.

In response to the general concern about the decaying infrastructure in the first generation universities, the Bank attempted to provide or improve key infrastructure under the Nigerian Universities Capacity Building Programme.

Following the success of the pilot scheme, the programme has since been extended to include second generation universities, the CBN has said.

The projects carried out under this capacity building programme include the construction of administrative blocks, lecture halls, laboratories, health centres, and provision of IT and V-sat equipment.

The Bank has so far spent the sum of over N453 million on such projects and more universities are expected to benefit from the programme in subsequent years.

However, information available to BusinessMetricsNG shows that of the total approved sum, only N201,867,900.12 has so far been disbursed and beneficiary universities number 24 in total.

Here is a table detailing the grants:

[ninja_tables id=”1598″]