The Central Bank of Nigeria (CBN) has approved about N19.2 billion to fund the establishment of nine ginneries across the country, the Central Bank of Nigeria Governor, Godwin Emefiele, disclosed on Tuesday.
The CBN governor said this at the signing of an Memorandum of Understanding (MoU) with some critical interest groups in the Cotton, Textile and Garment (CTG) sub sector in Abuja.
The MoU was signed between CBN and Nigeria Cotton Association of Nigeria, Ginners Association of Nigeria as well as Nigerian Textile and Garment Manufacturers Association.
Other groups who signed the MoU with the CBN included the Armed forces, Nigerian Police force, paramilitary institutions, the National Youth Service Corps (NYSC) and some uniform organisations.
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