Banks to revive National Theatre with N25bn

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The Central Bank of Nigeria and the Bankers Committee plan to revive the National Theatre at Iganmu, Lagos, with about N25 billion.

The Governor, Central Bank of Nigeria, Mr Godwin Emefiele, disclosed this during the 11th Bankers Committee retreat in Ogere, Ogun State on Saturday.

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“What the Bankers Committee is doing is to help to revive dead assets or an asset that is dying that cannot be able to generate its potential and revenue as a result of lack of funds and good maintenance,” he said.

Earlier in 2019, after receiving the approval of the Federal Government to take over the assets, the CBN and Bankers Committee had declared that their plan was to develop a 40-acre Creative Industry Park around the National Theatre.

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