Kano Investment and Diaspora, in partnership with the Foreign Commonwealth Development and Manufacturers Association of Nigeria (MAN) have secured a N10 billion intervention fund from the Central Bank of Nigeria (CBN) to revive companies impacted by the Covid-19 pandemic.


Speaking at the sensitization meeting on Kano Turnaround Project, on Monday, in Kano, the Director General of KanInvest & Diaspora, Hajiya Hama Ali, said the programme, which was designed to revive companies that had been affected by COVID-19 pandemic, would target at least 50 companies.

She explained that the CBN initially donated N10 billion to the agency, for the project’s take-off, saying that the apex bank had agreed to also increase the fund.

Ali added that the agency would interface with the affected industries, to collect the needed information and determine ways to support them.


“We and our development partners came up with this initiative in order to support our affected industries, because it is worrisome to see our industries in this condition.

“Our agency has produced an Expression of Interest (EoI) form for interested companies, and that the deadline for the submission of applications is February, 25.


“Our doors will be open to any company, until the application reached at least fifty, from then we will see if they can exhaust the N10 billion or not,” she explained.


The President of MAN, Mansur Ahmed, tasked the state government and other stakeholders to bring back the lost glory of Kano in industrialization, saying that about 50 percent of industries in Kano had either reduced their production capacity or closed down completely due to COVID-19 and other issues.

He, therefore, called for collaborative efforts to revive the industries in Kano, noting that it would be an effective way to provide job opportunities for the youth in the state, as well as bring peace and harmony.


Earlier, Gov. Abdullahi Ganduje expressed happiness about the project, stressing that his administration had come up with various programmes aimed at boosting small scale industries in the state.

He pointed out that industries in Kano were crippled by the activities of smugglers, and technology advancement, in which the country was lagging behind.(NAN)


https://www.vanguardngr.com/2021/01/cbn-provides-n10bn-intervention-funds-to-kano-to-revive-industries-consortium-2/

Nn

Arrrrrrrh

Gandollar be like, the above pic.

E don set be dat

Blowing up our money

The money have already entered voicemail !

Gandollar be like

They have finally succeeded, they have been finding a way to collect the money, now they have followed another way to collect the money ;DKano Government with free money to spend.

Godwin Emefiele is most probably the worst CBN governor ever! All he does is to dance to the tunes of those in the corridors of power, whom he considers to be very important to help him keep his job. Right from the start of this administration, he has been continuously involved in one scam after the other. If it's not the corrupt allocation of forex to Buhari allies, it's the massive recruitment of the relatives of people in government into the CBN.. Now, this.. The man has no morales, no good ethics, he's not particularly sound too. The country suffers under the weight of his agencies wrong fiscal policies and his busy bribing hard to keep his job! Emefiele should be investigated for his administrative crimes when this evil regime expires..