Economy

Bankers committee earmarks N20bn to maintain national theatre

Published

on


The Governor of  the Central Bank of Nigeria (CBN), Dr Godwin Emefiele said on Saturday that the Bankers Committee would spend N20 billion to carry out maintenance works at  the National  Art Theatre, Lagos


 

Emefiele told newsmen at the end of the 11th session of the Bankers Committee meeting in Ogere, Ogun, that the committee was appreciative of President Muhammadu Buhari’s approval for the improvement and redevelopment of the asset.

 

The Nigeria News Agency reports that the theme for the meeting is: “Delivering Inclusive Growth: Leveraging Digital Finance”.

 

“Asides from the redevelopment of the National Theatre, four hubs will be built around it, which will be developed and funded by the Bankers Committee.

 

“These four hubs are IT, fashion, music and Nollywood.

 

“Bankers Committee itself has its own funds that it has set aside; nothing less than N20 billion is going to be spent to carry out the maintenance.

 

“Not just the development of the hub but also, develop interest.

 

“This will help create economic activities around the National Art Theatre and then present it as an opportunity to create jobs for people, particularly our youths,’’ Emefiele said.

 

He said that the committee would help revive the dying asset that is currently not well maintained, not tapping its potential  fully and lacking good maintenance.

 

The apex bank governor also said that there were no plans to sack staff members of the national theatre.

 

“However, we will work with them and put in place the maintenance culture and arrangement that  will make the national theatre and the hubs around it a tourists’ attraction.

 

“I repeat, we  had attended  different conferences in different parts of the world, the potential that the national theatre possesses is more and better than some of the conference centres we saw in different parts of the world.’’

 

The governor noted that a larger percentage of the Nigerian population were youths, who are jobless and could not live a better life.

 

He said God endowed these youths with innate skills, which should be unleashed.

 

He urged the people to cooperate with the committee so that, through it, jobs could be created and economic activities boosted.

 

Emefiele said that  after the redevelopment and maintenance of the national theatre, it would boost tourism.

 

On speculations that the asset is being sold, Emefiele said it was not true.

 

He said  that there was no plan to sell it as the Federal Government was not contemplating selling it.

 

“Why will we sell an asset that has the creative potential to generate massive revenue for the government,’’ he said.

 

On delivering digital growth, the governor said the bank would move the BVN to the next level to include the excluded.

 

“We now have about 40 million people on the BVN platform.

 

“We think that because of the benefits of the BVN to bank customers and the economy, there is the  need to consolidate and move it to a new level, something like BVN-2.0.

 

“This  will entail, for instance, to reclassify and segregate transactions that can be done on BVN.

 

“We have two classifications; the existing BVN that we have in the system has about 18 lines of information.

 

“We decided that we classify into BVN-premium and BVN-lite.

 

“There should also be a system where people who are financially excluded can now be included.

 

“If you are on BVN-lite, there is a limit to the kind of transactions you can do in terms of deposit and in terms of loans.

 

“The important thing is that we want to make you financially included where you can conduct basic banking service.

 

“Our people in the rural communities who have BVN-lite will later be migrated to basic,’’ he said.

Edited by: Abdulfatah Babatunde/Peter Dada

(NAN)

https://nnn.ng/bankers-committee-earmarks-n20bn-to-maintain-national-theatre/

CAN urges government to overhaul country’s security system At least 11 injured, 17 houses demolished by heavy rain in Tanzania Super Eagles Friendlies: Officials, Ahmed Musa to depart for Austria on Saturday [email protected]: Bristol Hotel donates items to correctional centre, children’s home in Kano Food security: Kebbi farmers get training on combining rice with fish farming COVID-19: UN Chief urges more funding for IMF to help poor countries Perm Sec urges Nigerians to engage services of technicians to grow economy  DG urges Nigerians to key into zero tolerance policy to eradicate corruption  Zimbabwe to charge travelers tested for COVID-19 at ports of entry Group backs ongoing reconciliation in Oyo APC Independence Parade: FG orders blockage of all routes leading to Eagle Square  PDP identifies with ex-Gov Muazu over fire incident Britain hits 7,000 daily coronavirus infections amid lockdown debate Kajuru: Victims call for forginess to end cycles of crisis NSCDC officer, 2 others burnt as 2 motorcycles collide in Badagry COVID-19: Why we insist on post-departure tests – NCDC Robbery Attack: NAN Mgt commends Police, Anambra gov’t over proactive response Ex-commissioner, Abdul-Lateef, declares for Lagos governorship in 2023 CIOTA gets new exco, ratifies council Expert says engineers are critical to open defecation free Nigeria Enugu assembly passes bill to re-enact Local Government Law [email protected]: FG announces enhanced security measures for Eagle Square COVID-19: Okowa says Itakpe-Warri rail will rejuvenate rural economy FG warns against surge in COVID-19 infections as schools, businesses resume Edo correspondents pledge to support Gov. Obaseki Minister did not divert N2.67bn school feeding fund -ICPC Delta Govt urges newly recruited teachers, education officers to add value to children Buratai inaugurates military police headquarters in Abuja PTF urges Nigerians to brace up for COVID-19 testing Lawmaker assures constituents of even development, quality representation. Buhari backs calls for reallocation of  IMF reserve to support developing countries Zimbabwe to charge travelers tested for COVID-19 at ports Group drums support for Akeredolu’s re-election NAFDAC vows to prosecute impersonators, says agency no longer uses consultants Oyo Govt urges residents to go for COVID-19 test Counsel seeks protection of LASU student- witness in rape case Buhari felicitates with Ovie of Agbon Kingdom, Mike Omeru, at 70 We are not rubber stamp legislature — Reps Spokesperson  Nigerian Correctional Service begins Yellow Ribbon Project campaign in Edo A’Ibom Assembly raises concern over invasion of market by criminals  Foundation inaugurates digital platform to track press freedom violations in Africa Group lauds ISPHCDA’s giant stride in healthcare delivery in Imo Deputy VC seeks collaboration among medical practitioners to solve emerging health challenges Reps urge FG to release take-off grants for universities NEPZA urges zone operator, enterprise, to stop attacks on each other PDP NWC ratifies removal of Adagunodo as Osun Chairman UN urges action to address economic devastation caused by COVID-19 Zoho stresses the need for long-term business approach Kaura LG Chairman: Abductors yet to contact family – Council spokesman Senate to receive 2021 budget estimates next week — Lawan