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Apex bank promises to aid employment via local production

folarin okunola

April 11, 2016 1:24 PM

The CBN boss gave this assurance in a statement made available to newsmen on Sunday in Abuja by Mr Isaac Okorafor, the apex bank’s acting director, of corporate communications.

CBN Building

The CBN boss gave this assurance in a statement made available to newsmen on Sunday in Abuja by Mr. Isaac Okorafor, the apex bank’s acting director, of corporate communications.

Per the statement, Emefiele said this during a facility tour of the newly completed Sunti Golden Sugar Factory in Sunti, Niger.

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“The bank invested about N26 billion in the project in order to encourage import substitution and backward integration strategy. Such investments are geared toward self-sufficiency, generate employment and create wealth,” Emefiele said.

The CBN governor advised small scale sugarcane farmers in the area to leverage on the presence of the Sunti Golden Sugar factory to boost production, as the company would now buy all their produce.

Commenting, Mr. John Coumantaros, chairman of the Flour Mills of Nigeria Group, owners of Sunti Golden Sugar Company expressed appreciation for the support which the CBN gave the company.

folarin okunola