Sanusi Prioritized Varsity Projects With CBN Funds; Emefiele, Cardoso Fell Short

The Academic Staff Union of Universities (ASUU) has criticized the Central Bank of Nigeria (CBN) for its lack of recent investment in public university projects.

ASUU highlighted a significant change since the tenure of former CBN Governor and current Emir of Kano, Sanusi Lamido Sanusi.

The union claimed that despite available funds earmarked for community development, the CBN has not undertaken any projects in tertiary institutions since 2014, when Sanusi’s term ended.

ASUU President, Emmanuel Osodeke, shared these concerns on Inside Sources, a socio-political program on Channels Television.

Osodeke pointed out that during his time as CBN governor (2009-2014), Sanusi actively utilized the bank’s resources to fund essential university projects across Nigeria.

He said, “There are many companies today which they call cash cows; they have some reserve money for community development. CBN, NNPC and what have you.

“For a very long time that we have been having CBN governors, we never knew there was fund there that could be used in the university until the Emir of Kano, Sanusi, came in and decided to use the money the way it should be used.

“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, for the four years he was there before he was sacked but since another one came in, have you seen anything done in the university by CBN? Zero.”

Osodeke contrasted Sanusi’s contributions with those of his successors, Godwin Emefiele and the current CBN Governor, Olayemi Cardoso, asserting that neither has continued this legacy.

According to Osodeke, if Sanusi’s approach had been maintained, infrastructure challenges in public universities could have been significantly reduced.

Highlighting what he described as “community social responsibility funds” within the CBN, Osodeke urged the current leadership to follow Sanusi’s example.

Osodeke said, “If what Sanusi did when he was CBN governor was followed by other CBN governors, we would not be talking about projects in universities but the next one came and that is the end.

“There’s a new person there now and nobody is talking about that fund again; they call it (the fund) Community Social Responsibility, it’s there.”

“So, we should ask you if the CBN governor is watching me: how did Emir Sanusi generate that money to put projects in all the federal and many state universities in this country within four years? How come Emefiele couldn’t put one anywhere? How come the present one has not even thought about that? How come all those who were there have not to do anything?

“He (Cardoso) is a year in office, has he done anything? Have you seen any project in any university?” he queried.