Central Bank of Nigeria’s (CBN) Governor Godwin Emefiele has said that the criticality of infrastructure in fostering economic growth necessitated the creation of the Infrastructure Company -InfraCorp.
Emefiele made this disclosure during the 14th Annual Banking and finance conference organized by the charted Institute of Bankers of Nigeria – CIBN in Abuja adding that apart from the CBN the InfraCorp would also be financed by the African Finance Corporation and the Nigerian Sovereign Investment Authority to raise the N15 trillion required for its launch in October this year.
The CBN Boss said the InfraCorp would enable the use of mostly private capital to support infrastructure investment that will have a multiplier effect on growth across critical sectors as well as provide reasonable returns to investors.
While speaking at the 14th Annual Banking and finance conference Emefiele also made known the plan of the apex bank to establish the Nigerian International Financial Centre – NIFC in the next 12 months.
According to him he said the NIFC will act as an international gateway for Capital and investments, driven by technology and payment system infrastructure that will operate on a 24/7 basis and will complement London, New York and Singapore financial centers to enable the acceleration of home grown initiatives such as the Infracorp plc.