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Central Bank of Nigeria sets up USD2bn fund for power and aviation sectors

25-Aug-2010 1:09 PM

Central Bank of Nigeria (CBN) set up a USD2 billion fund to assist private investments in the power and aviation industries to "help sustain private sector investment in the two sectors" (AFP, 24-Aug-2010). The amount is part of an initial NGN500 billion (USD3.3 billion) power and aviation intervention fund announced in Apr-2010 "in a bid to catalyse financing of the real sector of the Nigerian economy".