The Central Bank of Nigeria (CBN) has
advised state governments without the Bank of Industry (BoI) to
facilitate the establishment of one in order to speed up industrisation
and other forms of economic development across the country.
The Assistant Director, Development
Finance Department of CBN, Abuja, Mr. Babatunde Ogunleye, made
the suggestion on Tuesday in Uyo, Akwa Ibom State, while fielding
questions from newsmen.
He argued that the BoI with the
primary mandate of financing the processing of raw materials and
industrialization of the nation is better positioned to help the
Small-Medium Enterprises (SMEs) in the country to engage the citizens.
Ogunleye expressed dismay that in some
states without BoI, citizens are compelled to go the extra mile to the
nearest state to present proposals or seek assistance from the bank on
the finance of projects.
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