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CBN
Kano Investment and Diaspora, in partnership with the Foreign Commonwealth Development ((LINKS) and Manufacturers Association of Nigeria (MAN) have secured a N10 billion intervention fund from the Central Bank of Nigeria (CBN) to revive companies impacted by the Covid-19 pandemic.
Speaking at the sensitization meeting on Kano Turnaround Project, on Monday, in Kano, the Director General of KanInvest & Diaspora, Hajiya Hama Ali, said the programme, which was designed to revive companies that had been affected by COVID-19 pandemic, would target at least 50 companies.
She explained that the CBN initially donated N10 billion to the agency, for the project’s take-off, saying that the apex bank had agreed to also increase the fund.
From Mustapha Adamu, Kano
KanInvest & Diaspora, in partnership with UK-based Company, LINKS and Manufacturers Association of Nigeria (MAN), has secured a whopping N10 billion intervention fund from Central Bank of Nigeria (CBN) to revive companies that have been affected by the COVID-19 pandemic. The revival project, tagged Turnaround Project, is targeting for intervention, at least fifty companies that had been affected by the pandemic, but not totally collapsed. Speaking at the opening of a Sensitization Meeting on Kano State Turnaround Project, held at government house yesterday, the Director General of the KanInvest & Diaspora, Hama Ali Ware, said the programme is to facilitate the turnaround objectives of various companies that had been affected by COVID-19 pandemic.
COVID-19: KanInvest Secures N10bn CBN Fund to Revive Industries in Kano thisdaylive.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thisdaylive.com Daily Mail and Mail on Sunday newspapers.
Dr Wale Adegbite, former Chairman, Manufacturers Association of Nigeria (MAN), Ogun chapter, has called on the Central Bank of Nigeria (CBN) to provide more foreign exchange to the manufacturing sector, to boost economic activities.
Adegbite, who gave the advice in an interview with the News Agency of Nigeria (NAN), on Monday, in Ota, Ogun, said the advice had become necessary to enable the manufacturing sector compete with its counterparts at the global level.
“The sourcing of Forex, procurement of raw materials, should be given top priority by the CBN so that the sector can produce goods at optimal level, “ he said.