The Central Bank of Nigeria , has announced that it has through three commercial banks financed railway infrastructure in Lagos to the tune of N6 billion.The banks, the CBN said are; Access Bank Plc, Sterling Bank Plc and Fidelity Bank Plc.
Speaking at the site inspection in Lagos yesterday, Director, Development Finance, CBN, Yusuf Philip Yila said: “The Central Bank of Nigeria, through Some banks, as provided funding on its DCR intervention to ensure that Lagos State has the right funding for this project. So far, I’m quite impressed with what I see on ground Lagos Metropolitan Area Transport Authority and we can see the solid structure that has been put in place in Marina.
He added: “So, another tranche is due, and as a central bank felt it’s important that will come and see what is on ground, the quality of work is quite impressive. The total amounts that we have made available for this line is N60 billion most disbursed for the N45 billion. There’s another tranche of 15 billion due and we can see the progress I see matches the disbursements that have been made so far.
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