CBN to invest N22bn in entertainment industry

CBN to invest N22bn in entertainment industry

Central Bank of Nigeria (CBN) has said it has concluded plans to invest at least N22 billion in the entertainment industry and in software production in Nigeria.

The CBN Director of Corporate Communications, Isaac Okorafor, said yesterday in Uyo during a One-Day Interactive Session with Stakeholders on the 5-year policy thrust of the Central Bank of Nigeria, adding that the move was to add more strength to the industry and censure piracy and ensure originality.

He said that CBN has also decided to resurrect the textile industry and also fund the entire value chain of the industry, beginning from the farmers to the garment makers.

“But we have decided that we must resurrect the textile Industry. We have started by funding the farmers who plant the cotton.

“We have gone into palm oil. We are doing this because if the economy does not function well, the CBN will be unable to perform its own duties,” he said.

Earlier, the Vice President of Industrial Global Union, Comrade Isa Aremu commended the CBN Governor, Godwin Emefiele for the foresight in taking right measures to support the economy and called on unions in the textile industry, food and beverage to engage in maximum production since the country has decided to focus on locally made products.

Idowu Babalola Photo
Idowu Babalola

Socially Not Social. IG & Twitter - @Idbragga

All author posts
Related Posts
Yoruba actress Iya Gbonkan begs fans for car
Yoruba actress Iya Gbonkan begs fans for car

Nollywood actress, Margaret Olayinka – Iya Gbonkan has appealed to her fans to provide a car for her. The...

Beyoncé’s New Lion King Album Features Burna Boy, Tiwa Savage, Wizkid & More
Beyoncé’s New Lion King Album Features Bur...

Beyonce has revealed the track lists to her Lion King inspired album tittled “The Lion King: The Gift”. Which...

Read I Go Dye’s Open Letter To President Buhari
Read I Go Dye’s Open Letter To President Bu...

Ace comedian and UN ambassador, I Go Dye, has written a letter to the President advising him to leave...

Write A Comments