Home / Knowledge / News / Textiles / CBN proposes to offer financial aid to textile industries
CBN proposes to offer financial aid to textile industries
27
Oct '15
The Central Bank of Nigeria (CBN) has proposed to provide financial assistance to textile industries in order to boost the economy of the country, according to Nigerian media reports.

CBN governor Godwin Emefiele recently held a meeting with garment and textile manufacturers in Abuja and offered to assist them in order to solve issues hampering production. He stressed that garment and textile manufacturing industries generate employment and contribute to the country's economy and hence must be given assistance to function optimally.

Emefiele especially stressed on helping small and medium scale manufacturers with accessing loans from banks to resume full production without having to worry about short tenure and suspension.

Alhaji Ismaila Isa Funtua, representative of the United Nigeria Textile Limited (UNTL) discussed about restructuring the loan from Bank of Industry and making cotton, the basic raw material for the textile and garment industry, easily available to manufacturers. (HO)

Fibre2fashion News Desk - India


Must ReadView All

IOC, MCPI to set up ₹1000 cr PSF unit in Odisha

Textiles | On 23rd May 2018

IOC, MCPI to set up ₹1000 cr PSF unit in Odisha

Indian Oil Corporation (IOC) has teamed up with Materials Chemicals...

Pakistan's textile exports up 8.13% in July-April FY18

Textiles | On 23rd May 2018

Pakistan's textile exports up 8.13% in July-April FY18

The value of textile and garment exports from Pakistan increased by...

Courtesy: Photo by Daian Gan from Pexels

Apparel/Garments | On 23rd May 2018

Future Retail posts loss of ₹463.62 crore in Q4FY18

For the fourth quarter of 2018 ending on March 31, Kishore Biyani-...

Interviews View All

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Top executives
Textile industry

Knowledge sharing platform needed for sustainable water management

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search