The Federal Government has appointed The Infrastructure Bank Plc, TIB, as transaction advisor for the re-development of the Independence Building, Lagos into a National Trade and International Business Centre, NTIBC.

In a statement issued in Abuja yesterday, the bank’s Managing Director, Mr. Adekunle Oyinloye, said the appointment was made through the Federal Ministry of Industry, Trade and Investment following a competitive bid procurement process and approvals of the Bureau of Public Procurement, BPP, and the Federal Executive Council.

In its transaction advisory role, Mr. Oyinloye explained, the Bank would provide a broad range of services, including the design of a transparent procurement process leading to the selection of credible bidders that would proffer a viable technical and financing solution for the re-development of the ‘’iconic Independence Building using Public-Private Partnership methodology.”

The 25-storey Independence Building, which was built to commemorate the nation’s independence on October 1, 1960, is situated at Force Road, Central Business District, Lagos Island.

It is within the vicinity of Tafawa Balewa Square, occupying approximately 8,100 square meters with a parking area of 2,650 square meters.

When completed, added Mr. Oyinloye, the NTIBC would be an ultra-modern, mixed-use, high-rise complex to serve as a convergence point for facilitation of trade and investments

“We are delighted to be given this tremendous opportunity to be part of a transformational project, the managing director stated.”

“TIB will be providing adroit structuring and advisory services to ensure the robust participation of the global investing community for the timely restoration of the landmark.