The Federal Government on Sunday assured that the N150 million donated by a philanthropist Emeka Offor will be used judiciously to advance students’ learning.

Minister of Education, Professor Tahir Mamman, disclosed this in Abuja, during the prestigious Post Convocation Dinner/Reception, in honor of Dr. Emeka Offor and Dr. Mrs. Adaora Offor, recognizing their outstanding contributions to education and philanthropy.

Sir Emeka Offor Foundation donated the sum of N100million to the Faculty of Business Administration, the University of Nigeria Nsukka, (UNN), and the sum of N50million to the Faculty of Social Sciences, Nnamdi Azikiwe University, Awka respectively.

Mamman said: “The ministry is really encouraged and supportive of this kind of recognition because government cannot finance education alone. As much as it’s contributing so much to it, but people like Sir Emeka Offor and his wife, what they are doing is the new orientation our business men need to have.

“When they make it, they recognize especially the society, and the vulnerable in particular, and come to their aid. It makes a lot of difference. So I believe this is an excellent example of resources well used, and other people will take a cue from what they have done here. So it is very well that we are celebrating them.

“The good thing is that the endowment is tied to a particular activity in the university, in those institutions, with very clear terms on usage. And I believe those institutions will utilize the money properly, and there’s a provision for accounting every year to ensure that the money is properly utilized.”Chief of Staff to Sir Dr. Emeka Offor, AIG Chris Ezike rtd, said:

“The endowment to UNN is known as Sir Emeka Offor Foundation Endowment Fund Number -2. Earlier in 2010, Sir Emeka Offor made an endowment of the sum of N20 million to the Faculty of Physical Sciences, University of Nigeria Nsukka, known as Sir Emeka Offor Foundation Endowment Fund Number -1.”In his remarks, Emeka Offor said that when people are educated they are equipped to face the world and find jobs for themselves.

He said: “What we have done, is that we have given money as an endowment, and there is conditions that are attached to the donation, what that means is that we want these funds to be invested in a high-yielding portfolio, but not a risky one.

“We do not want to hear that this money were lost in a bank, because they are trying to get higher yield, but the proceeds from the donation, this 150 million naira that we gave out today, it’s no longer our money, but we want these money to remain in the universities, so that it will support the research.

“It will encourage educational exchanges, that maybe some professors are going to other countries to acquire knowledge, so they will use it prudently to pursue the courses, because we have already stated in the letter, in the instructions, that the areas that they will use the funds, so if they go against that area, of course, they will not, because there is going to be a committee.

“The committee will comprise of people from the Foundation and from the institutions, so that, and in the bank, where this money will be deposited, there will be signatories from both sides, and none of them will be a signatory.” he said