The Central Bank of Nigeria (CBN) on Monday announced a plan to establish a N15 trillion CBN-led infrastructure development company which would leverage local and international funding for rebuilding of critical infrastructure.
Godwin Emefiele, governor of the CBN, who made the announcement after the Monetary Policy Committee (MPC) meeting on Monday said the entity will be focused on Nigeria and Nigerians alone and that the sum of N15 trillion is projected over five years for the initial run.
The company, he said, will be co-owned by the CBN, African Finance Corporation (AFC), and Nigerian Sovereign Wealth Investment Authority (NSIA), but exclusively managed by an independent infrastructure fund manager.
