The Central Bank of Nigeria (CBN) has formally handed over its High Impact Intervention Projects located on the University of Abuja campus to the university’s management, transferring responsibility for their completion and delivery to the institution.
The projects, which are at various stages of completion, include the Faculties of Science and Engineering complexes, Information and Communication Technology (ICT) centres, postgraduate and clinical hostels, as well as other academic and support facilities on the university’s main campus.
The facilities, initiated by the apex bank in 2014, were officially handed over on Monday, January 26, 2026, at the CBN Headquarters in Lagos. The University of Abuja was represented at the event by its Vice-Chancellor, Professor Hakeem Babatunde Fawehinmi.
Confirming the development, the Minister of Education, Dr. Tunji Alausa, said beneficiary institutions are now required to take full responsibility for ensuring the completion of the projects.
“The beneficiary institutions are expected to take appropriate steps to ensure the completion of the projects and to engage directly with contractors and consultants to facilitate timely delivery,” Alausa said.
He explained that the handover followed a meeting convened last year involving the Central Bank of Nigeria, the Tertiary Education Trust Fund (TETFund) and heads of beneficiary institutions. According to him, the engagement led to the CBN’s decision to transfer both the assets and associated liabilities of its intervention projects to the respective institutions.
The development is expected to accelerate the completion and utilisation of the projects, enhance learning infrastructure at the University of Abuja, and strengthen institutional ownership and accountability for intervention-funded facilities.
