CBN, Bankers’ Committee signs MOU with Federal Govt. for National Arts Theatre, creates clusters

The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has led other members of the Bankers’ Committee to sign a Memorandum of Understanding (MOU) with the Federal Government for the handover of the National Arts Theater, Iganmu, Lagos.

The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has led other members of the Bankers’ Committee to sign a Memorandum of Understanding (MOU) with the Federal Government for the handover of the National Arts Theater, Iganmu, Lagos.

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This is as the national monument, which was completed in 1976, will have Cappa & D’Alberto Limited as the main contractors, Nairda Limited as the electrical sub-contractor and VACC Limited as the mechanical sub-contractor.

The disclosure is contained in a statement from the CBN, through a series of tweet posts on its official Twitter handle on Sunday, February 14, 2021.

Emefiele said that revamping the National Arts Theatre would unlock the creative talents of hundreds of thousands of Nigerian youths in the fields of music, movie production, fashion, and information technology.

The statement said that 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.

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The prototype cluster is also expected to include a welcome/visitor’s centre, police and fire stations, and structured parking for up to 500 vehicles will be built.

It was also said that the CBN boss was full of praises for President Muhammadu Buhari for his magnanimous approval of the handover of the National Arts Theatre, as well as the pivotal role he continued to play in providing the Nigerian youths with limitless opportunities to reach the summit of their capacities.

The disclosure is contained in a statement from the CBN, through a series of tweet posts on its official Twitter handle on Sunday, February 14, 2021.

May be an image of one or more people and people standing

Emefiele said that revamping the National Arts Theatre would unlock the creative talents of hundreds of thousands of Nigerian youths in the fields of music, movie production, fashion, and information technology.

The statement said that 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.

The prototype cluster is also expected to include a welcome/visitor’s centre, police and fire stations, and structured parking for up to 500 vehicles will be built.

It was also said that the CBN boss was full of praises for President Muhammadu Buhari for his magnanimous approval of the handover of the National Arts Theatre, as well as the pivotal role he continued to play in providing the Nigerian youths with limitless opportunities to reach the summit of their capacities.

May be an image of one or more people, people standing and text that says 'LAGOS CREATIVE & ENTERTAINMENT CENTRE (LCEC) ENAIRIA'

The signing ceremony also had in attendance, Lagos State Governor, Babajide Sanwo-Olu, Herbert Wigwe, the MD/CEO of Access Bank Plc and Chairman Body of Bank CEOs, Sunday Dare, Minister for Youth and Sports, Lai Mohammed, Minister for Information and Culture, and others.

This investment will significantly boost the creative and tourism economy not only in Lagos but across the country.

According to Governor Sanwo-Olu, “Our creative talents and young people who seek several opportunities in the sector will be able to thrive.”

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What you should know

It can be recalled that around July 2020, the Federal Government announced the official handover of the National Arts Theatre Complex to the CBN and the banks under the aegis of the Bankers’ Committee, in order to commence the renovation of the facility.

The Federal Executive Council had, a few days ago, approved an MOU between the Federal Ministry of Information and Culture and the Bankers’ Committee for the renovation of the National Arts Theatre with the CBN expected to provide about N21.89 billion.

The Bankers’ Committee will be expected to manage the facility for a few years before handing it over to the Federal Government.

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The Commander, U.S. Africa Command, U General Stephen Townsend, wrapped up a three-day West African visit February 22-25, 2021, with a stopover in Nigeria to meet with the nation’s leaders and further the long-standing partnership and security cooperation between the two countries.

A press statement by the Embassy on Friday, said: “During the visit, Townsend met with the Nigerian President’s Chief of Staff, Ibrahim Gambari, and National Security Adviser, Babagan Monguno, to discuss regional security issues and to express the command’s gratitude for the assistance provided during a hostage rescue operation last year.

“When we asked for their help, the Nigerian government answered the call. Our hostage recovery mission in October would have been impossible without their support.

“They quickly provided assistance that helped the U.S. military to save an American life. That is a strong example of our partnership with Nigeria.”

Townsend also met with senior military officials, including the Minister of Defence, Bashir Salihi Magash, and the Chief of Defence Staff, General Leo Irabor, to talk about on-going cooperation in the region and greater maritime security and threat mitigation.

Nigeria is a key partner in countering violent extremist organizations throughout the Lake Chad Basin.

Townsend said furthermore: “The bilateral relationship between Nigeria and the U.S. is built on several pillars including security cooperation.

“U.S. Africa Command will do our part to advance the security cooperation pillar, so that Nigerians can enjoy the more secure future they all deserve.”

As close partners, the U.S. and Nigeria have worked at ensuring the collaborative relationship continues to grow to include a commitment to interoperability. Nigeria purchased 12 A-29 Super Tucano light attack aircraft, which will be delivered later this year.

“Nigeria’s purchase of A-29 Super Tucano aircraft is another example of their commitment to interoperability and security in the region,” he added. “Our economic relationship with Nigeria is already strong, and we look forward to the continued strengthening of security relationships. Nigeria’s leaders understand the importance of a collaborative approach to ensuring stability in West Africa and partnering on areas of mutual interest.”

The Commander also met with the U.S. Ambassador to Nigeria, Mary Beth Leonard.

Leonard said: “General Townsend’s visit to Nigeria demonstrates the strategic importance the United States places on our bilateral relationship with Nigeria.

“Our security cooperation partnership with Nigeria’s military will strengthen the country’s capabilities to secure land and sea borders, enhance overall security, and combat terrorism in the North East.”

As part of the visit, Townsend participated in a wreath-laying ceremony at the Nigeria Military National Cemetery to honour those who have given their lives in the service of their nation.

During the visit, the delegation expressed their condolences for the seven service men killed in the crash of a Nigerian Air Force aircraft in Abuja.