The multibillion-naira Naira Centre of Excellence building complex at Bayero University, Kano (BUK), which includes a world-class postgraduate school constructed by the Central Bank of Nigeria (CBN), was officially opened by Vice President Kashim Shettima on Monday.
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The complex consists of two distinct five-story buildings. One houses 190 well-furnished single hotel rooms, while the other, reported to have cost N15 billion, houses two contemporary theatres, classrooms, and offices of the Banking and Finance Faculty.
Upon inaugurating the facility, the Vice President, through his Special Advisor on Economic Affairs, Dr. Tope Fasua, said that Kano’s status as a prominent commercial hub in the nation made the facility’s location appropriate.
“The Central Bank of Nigeria’s Centres of Excellence are designed to serve as nationally recognised hubs for top-tier postgraduate programmes in business and finance. There is nothing more appropriate than having one of these located in the renowned City of Kano, which has long been recognised as a hub for trade, business, banking, and commerce.
“The structures are well-appointed, and these projects will remain relevant for as long as finance is important and necessary for a country’s prosperity. I can also appreciate the Vice Chancellor’s and the university administration’s determination to put these resources to use right now and stop neglect-related deterioration.
In the City of Kano are some of the biggest marketplaces in Africa. According to reports, the Dawanau market services all of West Africa and transacts in commodities on a daily average of N5 billion. Nigeria must carve out a place for herself in the newly launched African Continental Free Trade Agreement.
“A number of Nigeria’s still-thriving industries are based in Kano.Though Kano may have Nigeria’s highest warehouse density, the city is about more than just commodities.
Therefore, it is anticipated that the establishment of this wonderful Centre of Excellence will significantly enhance the already well-established standing of Kano State, Northwest Nigeria, and Nigeria overall.
I hope that this center’s research will broaden the scope of trade, banking, finance, and commerce, and that Nigeria will be able to solidify her status as a centre for industrialization, value addition, and even the exploitation of cutting-edge innovations like artificial intelligence, machine learning, nanotechnology, and other esoteric fields that are improving people’s lives all over the world,” he said.
Prof. Abbas Sagir Adamu, the university’s vice chancellor, thanked reporters for the building’s placement in the university in response to their inquiries following its commissioning.
“Because these two buildings are intended for finance, economics, and other social sciences, they would greatly benefit the university, Kano, and Nigeria.
“It will strengthen research and strengthen Nigeria’s economy.” We intend to utilise them in a way that advances the development of the country.
We were only asked to present the site when we sought the facility, thus we are not aware of the facility’s financial implications. Although we don’t know the exact cost, we have taken the value.
“We have assessed the value of the two facilities after they were turned over to us, and the two will now cost more than N15 billion,” Adamu stated.
