The Central Bank of Nigeria (CBN) has formally handed over its High Impact Intervention Projects on the University of Abuja campus to the University management, transferring responsibility for their completion and delivery to the institution. The handover ceremony took place on Monday, January 26, 2026, at the CBN Headquarters in Lagos, with the University represented by the Vice-Chancellor, Professor Hakeem Babatunde Fawehinmi.
The projects, which are at various stages of completion, include the Faculties of Science and Engineering complexes, ICT centres, postgraduate and clinical hostels, as well as other academic and support facilities on the University’s main campus. These facilities were initiated by the CBN in 2014 as part of its intervention projects aimed at enhancing the infrastructure of tertiary institutions in Nigeria.
According to a statement signed by the Minister of Education, Dr. Tunji Alausa, the handover is part of the CBN’s decision to transfer both the assets and associated liabilities of its intervention projects to the respective beneficiary institutions. This decision was announced after a meeting convened by the Minister of Education last year with representatives of the CBN, Tertiary Education Trust Fund (TETFund), and heads of beneficiary institutions.
Dr. Alausa emphasized that the beneficiary institutions, including the University of Abuja, are required to take appropriate steps to ensure the completion of the projects and to engage directly with contractors and consultants to facilitate timely delivery. This move is expected to enhance the infrastructure and academic environment of the University of Abuja.
The Vice-Chancellor of the University of Abuja, Professor Fawehinmi, received the handed-over projects on behalf of the institution. The University is expected to prioritize the completion of these projects to improve the learning environment for its students and staff.
The CBN’s intervention projects are aimed at addressing the infrastructure gap in Nigerian universities, and the handover of these projects to the University of Abuja is a significant step towards achieving this goal. The University of Abuja is one of the beneficiary institutions of the CBN’s intervention projects, and this handover is expected to boost its academic programmes.
The handover of the projects is also seen as a way of promoting accountability and efficient management of resources. By transferring the responsibility for the completion of the projects to the University, the CBN is ensuring that the institution takes ownership of the projects and ensures their timely completion.
The University of Abuja has expressed its commitment to completing the projects and making the best use of the facilities. The institution is expected to work closely with contractors and consultants to ensure that the projects are completed on time and to the required standard.
The CBN’s High Impact Intervention Projects are part of its efforts to support the development of Nigeria’s education sector. The bank has invested heavily in the development of infrastructure in Nigerian universities, and the handover of these projects to the University of Abuja is a significant milestone in this endeavour.
