NDIC Donates N20bn To Varsity Building

A state owned university, the Adekunle Ajasin University Akungba-Akoko (AAUA) in Ondo State has received a N20 million building donation from the Nigerians Deposit Insurance Corporation (NDIC) to house the Institutions Centre for Research and Development (CRD).

The project which was executed under the Corporate Social Responsibility (CSR) programme of the organisation is part of the N260 million grant which the NDIC board has in 2003 approved to be disbursed in phased financing of projects in 25 selected universities And polytechnics.

Under the scheme, which is now in the third phase, 10 tertiary institutions are targeted each year to benefit from projects ranging from supply of required equipment, construction of building and provision of other municipal infrastructures that are funded by the NDIC.

The AAUA CRD project was among those slated by the NDIC for the second phase of the programme, which the corporation instituted, with a view to providing assistance towards the enhancement of educational activities, and to move the country forward in the interest of future generations.

The CRD buildings, a two winged structure, which sits on an area covering about 380 square metres, was also equipped by the corporation with several sets of computers and furniture for the offices and the two conference rooms.

NDIC representative, Muftau Olanregaju Sulaiman said that the commissioning ceremony that “it is common knowledge that most higher institutions in Nigeria are lacking in basic infrastructural facilities, resulting in poor standards of education”.

Vice-Chancellor of the institution, Professor Olufemi Miniko disclosed that the contract for the project was awarded on May 14, 2009, while actual construction began on the site in June which was completed in April 2010.