Section 5: Powers of the University and their exercise.

(1) In the carrying out the objects as specified in section 2 of this Act, the University shall have power to-
(a) establish such campuses, colleges, institutes, schools, extra-mural departments and other teaching and research units within the University as may be deemed necessary or desirable, subject to the approval of the National Universities Commission;
(b) institute professorships, readerships or associate professorships, and other posts and offices and to make appointments thereto;
(c) institute and award fellowships, scholarships, exhibitions, bursaries, medals, prizes and other titles, distinctions, awards and other forms of assistance;
(d) provide for the discipline and welfare of members of the University;
(e) hold examinations and grant degrees, diplomas, certificates and other distinctions to persons who have pursued a course of study approved by the University and have satisfied such other requirements as the University may lay down;
(f) grant honorary degrees, fellowships or academic titles;
(g) demand and receive from any student or any other person attending the University for the purpose of instruction such fees as the University may determine subject to the overall directives of the Minister;
(h) subject to section 24 of this Act, to acquire, hold, grant, charge or otherwise deal with or dispose of movable and immovable property wherever situate;
(i) accept gifts, legacies and donations, but without obligation to accept the same for a particular purpose unless it approves the terms and conditions attaching thereto;
(j) enter into contracts, establish trusts, act as trustee, solely or jointly with any other person, and employ and act through agents;
(k) erect, provide, equip and maintain libraries, laboratories, lecture halls, halls of residence, refectories, sports grounds, playing fields and other buildings or things necessary or suitable or convenient for any of the objects of the University;
(l) hold public lectures and to undertake printing, publishing and book-selling;
(m) subject to any limitations on conditions imposed by statute, to invest any money appertaining to the University by way of endowment, not being immediately required for current expenditure, in any investments or securities or the purchase or improvement of land, with power to vary any such investments and to deposit any money for the time being not invested with any bank on deposit or current account;
(n) borrow, whether on interest 'or not if need be upon the security of any or all of the property, movable or immovable, of the University, such moneys as the Council may in its discretion find it necessary or expedient to borrow or to guarantee any loan, advances or credit facilities;
(o) do anything which it is authorised or required by this Act or Statute to do; and
(p) do all such acts or things, incidental to the foregoing powers, as may advance the objects of the University.
(2) Subject to the provisions of this Act and of the Statute and without prejudice to section 9 (2) of this Act, the powers conferred on the University by subsection (1) shall be exercisable on behalf of the University by the Council or by the Senate or in any other manner, which may be authorised by statute.
(3) The power of the University to establish further campuses and colleges within the University shall be exercisable by statute and not otherwise.