The Academic Staff Union of Universities (ASUU) has accused the Central Bank of Nigeria (CBN) of neglecting its role in funding critical projects in public universities since 2014.
According to ASUU, the intervention funds allocated to tertiary institutions have not been effectively utilized for university development since the tenure of former CBN governor Sanusi Lamido Sanusi.
ASUU President, Emmanuel Osodeke, made this claim during an interview on Inside Sources with Laolu Akande, aired on Channels Television.
Osodeke praised Sanusi’s tenure as CBN governor between 2009 and 2014, highlighting the numerous projects completed in universities during that period.
“There are many companies today which they call cash cows; they have some reserve money for community development. CBN, NNPC, and what have you,” Osodeke stated, emphasizing the role of these institutions in supporting higher education.
Osodeke noted that during Sanusi’s time as governor, the CBN invested heavily in public university infrastructure across Nigeria.
“There’s no federal university today that you don’t have a project done by Sanusi regime when he was CBN governor because the fund was there. The biggest building in my university is CBN. Go to the University of Abuja, CBN; go to Jos, everywhere,” he remarked.
However, Osodeke lamented that the CBN’s involvement in university development ceased after Sanusi’s tenure ended in 2014.
“Since another one came in, have you seen anything done in the university by CBN? Zero,” he added, referring to the subsequent CBN governors, including Godwin Emefiele and Olayemi Cardoso.
The ASUU president further questioned why the current and previous CBN administrations failed to follow Sanusi’s example.
“If what Sanusi did when he was CBN governor was followed by other CBN governors, we would not be talking about projects in universities,” Osodeke asserted.
He called on the current CBN governor, Olayemi Cardoso, to take immediate action: “He is a year in office, has he done anything? Have you seen any project in any university?”
Osodeke urged for a revival of CBN’s commitment to funding educational projects through its Community Social Responsibility funds, stressing that addressing the infrastructure deficit in public universities is crucial for Nigeria’s educational advancement.