Council received the statement of University Cashbook balance as at 27th April, 2011.

Council noted that the University had been meeting its obligations as at when due and its finances were not threatened.

Council noted that the Federal Government released only about 23% of the original Capital Grants approved for the University in 2010.

Council observed that two (2) of the University accounts with the UNAAB Microfinance Bank had a deposit as against the earlier directive of Council.

Council therefore directed that the excess of the deposit in each account should be transferred to commercial banks.

Council noted with satisfaction and commendation for Management, the effective management of funds and efforts made at ensuring the speedy completion of work on 2010 capital projects even as funds were not satisfactorily released by the Federal Government.

Council accepted the statement of Cashbook balance as at 27th April, 2011 as presented by the University Management.