CBN extends deadline for appointment as asset managers of InfraCorp

The CBN says it will continue to do all within its regulatory powers to educate Nigerians to desist from use of cryptocurrencies.

The Central Bank of Nigeria (CBN) on Monday extended the deadline for expressions of interest from qualified asset managers active in the infrastructure sector to manage the Infrastructure Corporation of Nigeria Limited (InfraCorp) by two weeks.

This followed the request by the Promoters, including the Central Bank of Nigeria, the Africa Finance Corporation (AFC), and the Nigeria Sovereign Investment Authority (NSIA).

A statement signed by Kingsley Obiora, on behalf of the promoters, indicated an extension to the deadline for receipt of final proposals in response to the detailed Request for Proposals (RfP) from 12 noon Nigerian time on 16 March 2021, to 12 noon Nigerian time on 30 March 2021.

“The process remains the same such that upon expression of interest through [email protected], the Promoters shall share a detailed RfP document providing potential asset managers with the necessary information to prepare appropriate proposals in line with the Promoters’ requirements,” the statement read.

President Muhammadu Buhari last year approved the establishment of the Infraco, a Public-Private Partnership infrastructure company to tackle Nigeria’s growing infrastructure deficit.

Godwin Emefiele, governor of the CBN said the InfraCorp would become fully operational by the second quarter of 2021.

This vehicle, he said, would enable the use of private and public capital to support infrastructure investment that will have a multiplier effect on growth across critical sectors.

Hope Moses-Ashike

Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks. She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings. Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.