FG’s Agreement With CBN On National Arts Theatre Revealed


The Central Bank of Nigeria (CBN) has been vindicated of an alleged plan to take over the National Theatre.

Speaking to newsmen on Monday, September 7, the immediate past Acting General Manager of the National Arts Theatre, Lagos State, Sunday Baba, disclosed that the CBN and the banker’s committee were only permitted by the federal government to renovate the theatre complex.

According to Baba, the CBN, through the Bankers’ Committee, would only renovate the complex and hand it over to the Federal Government.

He said, “The edifice built in the 70s is wearing out and needs proper attention to meet standards; it requires a huge amount to execute the project.

“It was on that note that the Federal Government gave approval to the CBN and the Bankers’ Committee that have intervention funds to take responsibility for the renovation. They are to redevelop the entire complex and upgrade outdated facilities; it will last for 18 months.”

“On completion, they will hand over the renovated complex to the Federal Government and National Theatre management.”

He further explained that the official handover of the project renovation to the CBN and Bankers’ Committee was held in July 2020.

“During the handover, the Minister of Information and Culture, Alhaji Lai Mohammed, made it clear that no member of staff would lose his or her job,” Baba noted.

“We need to make it clear once again and for better understanding that CBN is not taking over the National Theatre.”

Baba is of the belief that the glory of the edifice would be restored and it would remain Nigeria’s pride while retaining its position as the primary centre for performing arts as it was in the late 70s and 80s.

Meanwhile, Bibian Anekwe News reported about two weeks ago that President Muhammadu Buhari has approved the appointment of Chief Executive Officers (CEOs) for nine of the agencies in Nigeria under the Federal Ministry of Information and Culture head by Lai Mohammed.


Please enter your comment!
Please enter your name here