Bankers Committee to support FG’s infrastructural drive

BY EMEKA EJERE

The Bankers Committee of the Central Bank of Nigeria (CBN), said it has set up a sub-committee to work out modalities and engage the federal government on how it can intervene in the financing of infrastructure across the country.

Briefing journalists on the proposed financing at the end of the first meeting of the committee held on Tuesday in Lagos, the CBN Director, Banking Supervision, Mr. Hassan Bello, said government has invited the committee, through the CBN governor, Mr. Godwin Emefiele, to explore the Public Private Partnership (PPP) option in bridging the infrastructure gap facing the country.

He said the committee is considering the financing of four major roads across the country in a bid to reducing the nation’s infrastructural deficit.

“The government has invited the committee of bankers to consider the possibility of public-private partnership in bridging the infrastructural gap. To that extent, the committee considered coming in to see how it can finance about four roads,” he said.

He explained further: “On the structure of the financing, the offer was just made by government and the bankers just discussed it and it is too early in the day to discuss how this structure is going to be. The committee has already set up a small subcommittee to look at the modalities and also engage the government so as to know the way forward.”

Also speaking, the managing director of FSDH Merchant bank, Mrs. Hamda Ambah, said the committee acknowledged that the federal government cannot provide all the infrastructure the country needs.

“What was agreed was to create a small committee among the CEOs to work with the central bank to identify those roads where we would like to participate. Come up with a framework which we will share with the government as to how we intend to do that and once we have an agreement we will be able to forge ahead,” she said.

Managing director of Jaiz Bank, Mr. Hassan Usman, threw some light on the issue of NIRSAL fund. He said, “The bankers committee is looking in many ways to support government and the society whether it is increasing the level of credit to the private sector and real sector of the economy or working with NIRSAL and other banks to increase financial Inclusion or specifically intervening in infrastructure.

“These are steps being taken to ensure that government is supported is drive to grow this economy, reduce unemployment and also improve the security of the nation.”