Central Bank Sets Up
Committee For States Projects
The
Central Bank of Nigeria, CBN has set up a committee to support
state governments with ideas on how to source funds to execute
infrastructure projects.
This follows the seeming reduction in the flow of capital from
banks to government and corporate organisations for investment,
since the current banking reforms commenced.
The CBN Governor, Mallam Sanusi Lamido said the committee,
comprising members from twenty-four banks, would support state
governments in electricity generation, development of
agriculture and infrastructure projects.
Mallam Sanusi, who was speaking to newsmen in Kaduna Northwest
Nigeria, reiterates plans by the Central Bank to re-categorise
banks according to different capital base requirements, as part
of a phased reform of the banking sector.
FRCN/Yinka
