Section 5: Powers of the University.

(1) For carrying out its functions as specified in section 2 of this Act, the University shall:
(a) offer courses of instruction, training and research in the advancement of knowledge for the production of middle and high-level manpower and other skilled personnel required in further development of Nigeria in particular and the world at large;
(b) establish such faculties, institutes, schools, colleges, centres, extra-mural departments and other units of learning and research within the University as the University may deem necessary or desirable subject to the approval of the National Universities Commission;
(c) institute professorships, readerships, and lectureship and any other office of any kind whether academic or not as may be required by the University;
(d) institute and award fellowships, scholarships, studentships, bursaries, medals, prizes and other academic titles, distinctions and awards;
(e) prescribe the conditions under which a person shall be admitted to the University or to any particular course of study or be allowed to continue in such course of study;
(f) grant and confer, under conditions prescribed by the University, degrees, diplomas, certificates and other academic distinctions, to and on persons who have pursued a course of study approved by the University and have passed such examinations or other tests and satisfied such other requirements as the University may prescribe;
(g) confer honorary degrees, fellowships and other academic distinctions;
(h) deprive any person of any degree, diploma, certificate, fellowship, scholarship, studentship, bursary, medal, prize or other academic title, distinction or award granted to, or conferred on him by the University;
(i) provide such lectures and instructions for persons not being members of the University as the University may determine and grant to any such person such diplomas, certificates or other academic distinctions as the University may deem necessary;
(j) accept the examinations passed and periods of study spent by students of the University at other universities or places of learning as equivalent to such examinations and periods of study in the University as the University may determine and to withdraw such acceptance at any time;
(k) upon such terms and conditions as may be determined by the University, affiliate with other institutions, branches or departments, recognise selected members of staff as teachers of the University, admit the members to any of the privileges of the University, and accept attendance at courses of study in such institutions, branches or departments in place of such part of the attendance at courses of study in the University;
(l) make provision for research and advisory services and enter into such arrangements with other institutions as the University may deem desirable;
(m) undertake printing, publishing and book-selling;
(n) provide for the discipline and welfare of members of the University, its employees and residents;
(o) demand and receive such fees as may be prescribed by the University;
(p) act as trustees or managers of any property, legacy, endowment, bequest or gift for purposes of education, research or otherwise in furtherance of the work and welfare of the University;
(q) acquire, hold, grant, charge or otherwise deal with or dispose of movable and immovable property;
(r) accept gifts, legacies and donations, but without obligation to accept same for a particular purpose unless the University approves the terms and conditions attached;
(s) establish trusts, enter into contracts or any other agreement solely or jointly with any other authority or institution, and employ and act through agents;
(t) erect, provide, equip and maintain libraries, museums, archives, laboratories, lecture halls, refectories, sports grounds, playing fields and other buildings or things necessary for the effective attainment of any of the objects of the University;
(u) take such steps as may be deemed expedient for the purpose of procuring contributions to the funds of the University;
(v) borrow such money as the University may deem necessary or expedient for the effective attainment of its objects under this Act;
(w) make gifts for any charitable purpose;
(x) do anything which is authorised or required by this Act or any other statute or regulation;
(y) do all such acts and things, whether incidental to its powers or not, as may be necessary in order to further the objects of the University as a place of learning, research and community service; and
(z) subject to the provisions of this Act or any other statute, invest any money accruing to the University by way of endowment whether for general or special purposes, and such other money as may not be immediately required for current expenditure, in any approved investment or security or in the purchase or improvement of land, with power to vary any such investment and deposit any money for the time being un-invested into the Fund under this Act;
(2) Subject to the provisions of this Act, the statutes or regulations made under it and without prejudice to this section and section 6 of this Act, the powers conferred on the University by subsection (1) shall be exercisable on behalf of the University by the Council or Senate or in any other manner which may be authorised by this Act.