CBN Unveils Framework to Empower 100 Companies

CBN Unveils Framework to Empower 100 Companies
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Mariam Sanni, Abuja

The Central Bank of Nigeria has commenced the 100 for 100 Policy on Production and Productivity with the unveiling of an operational framework to guide interested companies in participating in the initiative.

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According to the framework which was released revealed the conditions interested companies must meet to qualify for the programme.

 “This is the operational framework for a robust and transparent process for identifying and selecting high-impact companies and projects under the CBN’s 100 for 100 PPP.

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“These are projects that must catalyse sustainable employment-led economic growth through increased domestic production and productivity in the near term,” the framework read in part.

“The projects for consideration shall be new projects in existing companies requiring new machinery and other support and must have the greatest potential to achieve significant scale in their in-country production and for domestic consumption and exports,” it added.

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The Governor, CBN, Godwin Emefiele, had during the launch of the eNaira announced plans to introduce a new financial instrument to boost local production and productivity in various sectors of the economy.

According to the governor, the instrument is expected to reverse Nigeria’s over reliance on imports.

Aljazirahnews

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