Bankers agree on funding of National Theatre, sign MOU

The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has led the Bankers Committee to sign a Memorandum of Understanding (MOU) on takeover of the National Arts Theatre, Iganmu, Lagos, for the purpose of reconstructing the facility.

Information obtained from CBN’s website on Sunday indicated that the MOU was signed between the committee and the Minister of Information and Culture, Alhaji Lai Muhammed.

Emefiele said that revamping the theatre would boost creative talents of the Nigerian youth.

He commended President Muhammadu Buhari for his support for the MOU and for his commitment to supporting the Nigerian youth to realise their full potentials.

Emefiele also unveiled the contractors selected for the job.

“We commend Mr President for his magnanimous approval for the handover of the National Arts Theatre, as well as the pivotal role he continues to play in providing the Nigerian youth with limitless opportunities to reach the summit of their capacities.

“Revamping the National Arts Theatre will unlock the creative talents of Nigerian youths in the fields of music, movie, fashion and information technology,’’ he said.

Emefiele said the Bankers’ Committee would provide funding for a prototype cluster labelled “The Signature Cluster” which consists of a building each for music, film, fashion and information technology verticals.

He said in addition, a visitors centre, police and fire stations and a 500-vehicle park would also be built.

The CBN governor named the main contractor as Cappa and D’Alberto Limited, the electrical sub-contractor as Nairda Limited, while the mechanical sub-contractor is VACC Limited,” he said.

The News Agency of Nigeria (NAN) reports that present at the ceremony were Gov. Babajide  Sanwo-Olu of Lagos State, and Mr Sunday Dare, the Minister of Youth and Sports Development.

Also, Mr Herbert Wigwe, Managing Director of Access Bank, who doubles as Chairman, Body of Bank CEOs and some representatives of the contractors also witnessed the ceremony.

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