(1) Subject to the provisions of this Act and the Statutes, the Board shall be the Chief Executive Body of the University and shall manage and supervise the properties and activities of the University and shall be responsible for the conduct of all administrative affairs of the University not otherwise provided for in this Act.
(2) Without prejudice to the generality of the foregoing power, the Board shall have the following powers, namely:-
(a) to make, amend or repeal the Statutes, Ordinances and Regulations;
(b) to consider and review the financial requirements of the University and approve the annual financial estimates of the University;
(c) to provide for the administration of any funds placed at the disposal of the University;
(d) to arrange for the investment and withdrawal of funds of the University;
(e) to borrow money for the purposes of the University, with the approval of the Government, on the security of the property of the University and to make suitable arrangements for its re-payment;
(f) to hold, control and administer the properties of the University;
(g) to determine the form, provide for the custody, and regulate the use, of the common seal of the University;
(h) to appoint such committees, either standing or temporary, as it may consider necessary, and specify the terms of reference thereof subject to the provisions of this Act;
(i) to determine and regulate all questions of policy relating to the University in accordance with the provisions of this Act;
(j) to make financial provision for the instruction, teaching, research, advancement and dissemination of knowledge in such branches of learning and courses of study as may be determined by the Academic Council;
(k) to provide for the establishment and maintenance of colleges, hostels, laboratories, experimental and institutional livestock farms and other facilities necessary for carrying out the purposes of this Act;
(l) to provide for the institution and conferment of degrees, diplomas and other academic distinctions;
(m) to provide for the institution, maintenance and award of scholarships, fellowships, studentships, bursaries, exhibitions, medals and prizes;
(n) to accept, on behalf of the University, trust, bequest, donation and transfer of any 11 movable or immovable property made to it;
(o) to enter into contract or memorandum of understanding on behalf of the University;
(p) to create teaching, research and extension education posts; and
(q) to exercise such other powers, not inconsistent with the provisions of this Act or the Statutes, as may be necessary, for carrying out the purposes of this Act.