CBN, Banks Commit N25bn to National Theatre Upgrade

Photo caption: L-R: Minister of Youth and Sports, Mr Sunday Dare; Minister of Information and Culture, Alhaji Lai Muhammed; Governor, Central Bank of Nigeria, Mr Godwin Emefiele and the Lagos state Governor, Babajide Sanwo-Olu at the formal handing over of the National Arts Theatre,Iganmu Lagos to Bankers’ Committee for Renovation and transformation in Lagos today, Sunday, July 12, 2020


The Central Bank of Nigeria (CBN) and banks under the aegis of the Bankers’ Committee yesterday unveiled plans to spend about N25 billion as initial funding on the development of Nigeria Creative Centre at the National Theatre, Lagos and three other major cities in Nigeria.

The other cities are Kano, Port Harcourt and Enugu. The CBN Governor, Mr. Godwin Emefiele, spoke on the initiative in Lagos yesterday, during the official handing over of the National Theatre in Lagos to the Bankers’ Committee for renovation and upgrade.

Others in attendance at the event were the Minister of Youth and Sports, Mr. Sunday Dare; Minister of Information and Culture, Alhaji Lai Mohammed; the CEO, Access Bank Plc, Mr. Herbert Wigwe; Lagos State Governor, Mr. Babajide Sanwo-Olu, his deputy, Dr. Obafemi Hamzat, and other top officials of the Lagos State government.

Emefiele thanked President Muhammadu Buhari for approving the handing over of the edifice and its adjoining land to the Bankers’ Committee. According to him, by his action, the president has demonstrated that he recognises that a renovated National Theatre and the complementary facilities that will be built along with it will help in unleashing the creative talents of Nigeria’s youths across multiple sectors and in supporting Buhari’s objective of creating new employment opportunities for Nigerians.

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