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CBN, Bank of Industry Partner with CEAN to stabilize Nigeria’s creative sector Post-Covid

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In a bold and strategic move to rescue Nigeria’s creative industries from the lingering economic shocks of the COVID-19 pandemic, the Central Bank of Nigeria (CBN) and the Bank of Industry (BOI) have officially partnered with the Creative Entrepreneurs Association of Nigeria (CEAN) to design and implement a nationwide intervention targeting vulnerable creative businesses.

The collaboration, launched in mid-2022, marks a milestone in the recognition of Nigeria’s creative economy as a critical pillar of national development—and affirms CEAN’s position as a trusted stakeholder in industry policy and infrastructure development.

Responding to a Sector in Crisis

The partnership was galvanized by CEAN’s early post-pandemic whitepaper, “Creating Through Crisis: The Future of Nigerian Creativity Post-COVID,” which presented compelling data and policy recommendations that influenced federal strategy. While other sectors received initial support under the government’s economic recovery plans, it was CEAN’s persistent advocacy and detailed sector mapping that brought national attention to the creative industries’ urgent needs.

“From day one of the pandemic, we understood that Nigeria’s cultural workforce—millions strong—was at risk of collapse,” said Adebowale Ewedemi, CEAN founding executive and veteran media entrepreneur. “We didn’t just lobby for change; we brought the tools, the structure, and the roadmap.”

From Blueprint to Implementation

The result was a landmark intervention program backed by BOI and regulated by CBN, with CEAN serving as the official implementation partner. The program delivers targeted support to struggling sub-sectors including independent film, performance art, fashion, radio, music, design, and digital content production.

Highlights of the program include:
• Access to low-interest working capital for creative entrepreneurs
• Training grants and accelerator programs for skill development
• Support for studio and performance infrastructure
• Technical assistance for digital transformation and business retooling

CEAN’s nationwide rollout has seen the training of over 2,000 creative entrepreneurs, advisory support to more than 500 micro-businesses, and the establishment of regional Creative Recovery Hubs in Lagos, Abuja, and Enugu.

Sustained Leadership in Nigeria’s Creative Economy

This intervention is only the latest in CEAN’s long record of national impact. During the peak of the COVID-19 lockdowns, the association served as a frontline support system—offering emergency relief, transitioning training programs online, and shaping portions of the Federal Government’s Survival Fund.

For more than a decade, CEAN has played a vital role in connecting Nigeria’s informal creative workforce to structured policy, funding, and formal economic opportunities. Through this work, the association—under Ewedemi’s leadership—has consistently introduced original models, innovative frameworks, and institutional partnerships that define sustainable creative sector governance in Africa.

Architects of a New Creative Economy

This partnership with CBN and BOI reflects a broader understanding that Nigeria’s future is tied to the creative ingenuity of its people—and that long-term development requires strategic institutions with deep insight, trust, and capacity.

“We’re proud to move beyond advocacy into implementation,” said Ewedemi. “This is not a moment—it’s a movement. We are helping to reshape the creative industry into a nationally recognized economic force.”

As the creative sector continues to recover and rebuild, CEAN remains committed to ensuring that no artist, content creator, or cultural innovator is left behind.


About CEAN

The Creative Entrepreneurs Association of Nigeria (CEAN) is a national platform committed to advancing the business of creativity through advocacy, education, access to finance, and sustainable ecosystem development. CEAN represents creative professionals across music, media, fashion, film, design, performance, literature, and emerging creative technologies.

About Adebowale Ewedemi

Adebowale Ewedemi is a leading media and cultural entrepreneur with over 20 years of experience in broadcasting, creative industry leadership, and innovation policy. He is the founder of multiple FM radio stations in Nigeria and serves as Executive Director of CEAN, where he has led numerous national and international creative inte

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Naira Exchange Rates Monday, 29 June 2026

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OFFICIAL CBN EXCHANGE RATES

US DOLLAR (USD) ₦1,380. 93

GREAT BRITISH POUND (GBP) ₦1,824.90

EURO (EUR) ₦1,577. 58

SWISS FRANC (CHF) ₦1,710.13

JAPANESE YEN (JPN) ₦8.54

CHINESE YUAN (CNY) ₦203. 13

WEST AFRICAN CFA (XOF) ₦2.39

WEST AFRICAN UNIT ACCOUNT (WAUA) ₦1,867. 05

SAUDI RIYAL (SAR) ₦367.72

SOUTH AFRICAN RAND (ZAR) ₦83. 89

BLACK MARKET RATES

US DOLLAR (USD) Buy ₦1, 393 Sell ₦1, 400

GREAT BRITISH POUND (GBP) Buy ₦1,850 Sell: ₦1,870

EURO (EUR) Buy ₦1, 580 Sell ₦1,600

CANADIAN DOLLAR (CAD) Buy ₦1,030 Sell ₦1,100

SOUTH AFRICAN RAND (ZAR) Buy ₦75 Sell ₦90

UAE DIRHAM Buy ₦350 Sell ₦370

CHINESE YUAN Buy ₦180 Sell ₦200

GHANA CEDI (GHS) Buy ₦95 Sell ₦110

WEST AFRICAN CFA Buy ₦2, 380 Sell ₦2, 460

CENTRAL AFRICAN CFA Buy ₦2, 220 Sell 2,300

AUSTRALIAN DOLLAR Buy ₦800 Sell ₦900

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Naira Exchange Rates To Foreign Currencies, Friday 26,June 2026

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Official CBN Exchange Rates

US DOLLAR (USD) ₦1,380. 11

GREAT BRITISH POUND (GBP) ₦1,818.34

EURO (EUR) ₦1,566.84

SWISS FRANC (CHF) ₦1,698.80

JAPANESE YEN (JPN) ₦8.53

CHINESE YUAN (CNY) ₦202. 99

WEST AFRICAN CFA (XOF) ₦2.39

WEST AFRICAN UNIT ACCOUNT (WAUA) ₦1,866. 38

SAUDI RIYAL (SAR) ₦367.54

SOUTH AFRICAN RAND (ZAR) ₦83.65

BLACK MARKET RATES

US DOLLAR (USD) Buy ₦1, 392 Sell ₦1, 395

GREAT BRITISH POUND (GBP) Buy ₦1,850 Sell: ₦1,865

EURO (EUR) Buy ₦1, 580 Sell ₦1,600

CANADIAN DOLLAR (CAD) Buy ₦1,030 Sell ₦1,100

SOUTH AFRICAN RAND (ZAR) Buy ₦75 Sell ₦90

UAE DIRHAM Buy ₦350 Sell ₦370

CHINESE YUAN Buy ₦180 Sell ₦200

GHANA CEDI (GHS) Buy ₦95 Sell ₦110

WEST AFRICAN CFA Buy ₦2, 380 Sell ₦2, 460

CENTRAL AFRICAN CFA Buy ₦2, 220 Sell 2,300

AUSTRALIAN DOLLAR Buy ₦800 Sell ₦900

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Naira Exchange Rates Thursday 25 June 2026

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Official CBN Exchange Rates

US DOLLAR (USD) ₦1,380.08

GREAT BRITISH POUND (GBP) ₦1,815. 63

EURO (EUR) ₦1,566.63

SWISS FRANC (CHF) ₦1,696.05

JAPANESE YEN (JPN) ₦8.53

CHINESE YUAN (CNY) ₦202.62

WEST AFRICAN CFA (XOF) ₦2.38

WEST AFRICAN UNIT ACCOUNT (WAUA) ₦1,858. 54

SAUDI RIYAL (SAR) ₦367.58

SOUTH AFRICAN RAND (ZAR) ₦82. 91

BLACK MARKET RATES

US DOLLAR (USD) Buy ₦1, 390 Sell ₦1, 395

GREAT BRITISH POUND (GBP) Buy ₦1,845 Sell: ₦1,865

EURO (EUR) Buy ₦1, 580 Sell ₦1,600

CANADIAN DOLLAR (CAD) Buy ₦1,030 Sell ₦1,100

SOUTH AFRICAN RAND (ZAR) Buy ₦75 Sell ₦90

UAE DIRHAM Buy ₦350 Sell ₦370

CHINESE YUAN Buy ₦180 Sell ₦200

GHANA CEDI (GHS) Buy ₦95 Sell ₦110

WEST AFRICAN CFA Buy ₦2, 380 Sell ₦2, 460

CENTRAL AFRICAN CFA Buy ₦2, 220 Sell 2,300

AUSTRALIAN DOLLAR Buy ₦800 Sell ₦900

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