CBN Set To Create N50 Billion Fund For Families, Businesses Affected By Coronavirus

Posted by E.L.E.X on March 17 2020 under News









The Central Bank of Nigeria (CBN) has said that N50 billion has been earmarked to support families and businesses affected by the impact of the novel coronavirus in the country.

Speaking to journalists in Abuja on Monday, Governor of the apex bank, Godwin Emefiele, explained that six key initial policies will be introduced to help combat the Covid-19 scourge on the nation’s economy.

He added that the interest rate for loans will be reduced from nine to five percent for one year effective from 1st March 2020.

Mr. Emefiele said that the healthcare sector will receive credit support in a bid to help them produce medications that can help contain the spread of the virus.

Other policy interventions announced by the apex bank governor include strengthening of loan to deposit ratio, an extension of the moratorium on loans and regulatory forbearance.




YOU MAY ALSO LIKE

Related Posts Pictures

UNBELIEVABLE! Gunmen raze Governor Hope Uzodinma’s country home, kill two of his security aides (videos)

Related Posts Pictures

Mother faces prison for saving her children from a house fire instead of portrait of North Koreas leaders

Related Posts Pictures

Read these Tweets about a guy looking for a job and how he was tested by his "employer" and tell us which side you are on

Related Posts Pictures

Woman Begs Court To Dissolve 12-Year-Old Marriage Over This Shocking Thing

Related Posts Pictures

North Waited For Tinubu To Help Buhari Defeat Atiku Before Dropping 2023 Bombshell – Reno Omokri

Comments


Add Comment

All fields are required!








Contact Us Picture

Are you interested in Advert placement | Promoting your Music or Video | Other Enquiries? We are always available to get that done for you without breaking a sweat. Send us a mail @ elextechnologies4@gmail.com | Call us @ 08132021949 | Message us via whatsapp @ 08132021949