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CBN Moves To Cushion Effects Of Coronavirus




Central Bank of Nigeria (CBN) has put in place measures to cushion the effects of the novel coronavirus on Nigerians.

CBN Governor, Godwin Emefiele said this on Monday while addressing members of the press. He said the apex bank has extended moratorium on its intervention funds by one year, including a targeted N50bn loan facility for households and medium and small businesses.

Other measures put in place are the reduction of interests on its N3 trillion intervention facilities from nine per cent to five per cent beginning from March 1, 2020 and credit support to the health industry in the form of loans to pharmaceutical companies, hospitals and health care practitioners.

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