The Central Bank of Nigeria (CBN) and its partners have extended the deadline for expressions of interest from qualified asset managers active in the infrastructure sector to manage the Infrastructure Corporation of Nigeria (InfraCorp).
The CBN’s partners include Africa Finance Corporation (AFC), and Nigeria Sovereign Investment Authority (NSIA).
Techeconomy.ng was aware that the deadline, initially slated for March 16, 2021, has been extended by two weeks to March 30, 2021.
Recall that President Muhammadu Buhari government’s seed capital of N1 trillion for InfraCo, an infrastructure company, that will be wholly focused on critical infrastructure investment in the country, under a Public-Private Partnership.
President Buhari said that InfraCo would be raising funds from the CBN, Nigeria Sovereign Investment Authority, Pension funds, and local and foreign private sector development financiers.
The promoters, in a statement released on Tuesday, March 16, said the successful asset manager will be responsible for establishing a general partner/asset manager organisation that would develop the consolidated business plan and financial model for InfraCorp and its subsidiaries.
The statement read: “Reference is made to the request by the promoters (the Central Bank of Nigeria, the Africa Finance Corporation, and the Nigeria Sovereign Investment Authority), for expressions of interest from qualified asset managers active in the infrastructure sector to manage the Infrastructure Corporation of Nigeria Limited.
“This communique is to convey an extension to the deadline for receipt of final proposals in response to the detailed Request for Proposals from 12noon Nigerian time on 16 March 2021 by two weeks to 12noon 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.”