The Central Bank of Nigeria, (CBN), has disbursed the sum of N10billion to Kano companies affected by the pandemic, through a consortium of Kano Investment and Diaspora, in partnership with the Foreign Commonwealth Development and Manufacturers Association of Nigeria (MAN).
This was disclosed on Monday in Kano by the DG of KanInvest & Diaspora, Hajiya Hama Ali, in a meeting on the Kano Turnaround Project.
She said the target of the funds would be 50 companies and that the Kano agency would work with the affected companies to determine how much was needed for the economic turnaround. She also claims the initial N10billion would be increased after a meeting with CBN.
Recall that the Federal Government recently disclosed that the Kano-Maradi rail would be completed in 36 months, with the projection that the 283-km railway would also be used for the development of freight and passenger transport, and be integrated with road transport.
CBN disburses N10bn intervention funds to Kano industries affected by pandemic
