I thought that this would be fun. Make up the name of the school, the acronym and the location. Since it's by op, I'll go first:
University of Niagara Falls (UNF) Niagara Falls, Ont.
Rename Western Ontario to Southern Ontario (USO), much more geographically correct, since there are over 1000 miles of Ontario to the west of London. lol
University of Northwest Ontario (UNWO) Kenora, Ontario
University of Northern Alberta (UNA) Ft. McMurray
Okanagan Valley University (OVU) Kelowna, BC
Vancouver Island University (VIU) Port Alberni, BC
Rename UNBC to UCBC (Central British Columbia) because like Western, it is geographically challenged, as there are over 500 miles north of Prince George in BC.
University of The North (UN) Yellowknife, NT
That's all I could come up with. Your turn.