Banks To Rehabilitate National Arts Theatre With $200m

The Governor of the Central Bank of Nigeria, Godwin Emefiele, announced on Saturday that the Bankers’ Committee has increased the amount it planned to spend to rehabilitate the National Arts Theatre from $100m to $200m.

He also assured that the CBN wiould not stop but continue to support the economy with foreign exchange intervention after 2022.

Emefiele made this known during a press conference at the end the of the two-day bankers retreat in Lagos.

Speaking on the National Arts Theatre funding, he said, “I must confess that when we started this project, we contemplated it would cost $100m to complete. But unfortunately, where we are on the dimensions, the scope of the project yesterday, we found out that it is almost going to last up to $200m.”