Central Bank of Nigeria Statement Policy Measures Amid COVID-19

Central Bank of Nigeria Statement Policy Measures Amid COVID-19

The apex bank in Nigeria, Central Bank of Nigeria (CBN) announces policy measures on COVID -19. Extension of the moratorium of 1 year on all principal repayments effective March 1, 2020.

Interest rate reduction from 9 percent to 5 percent effective March 1. Creation of a target creative facility through NIRSAL microfinance bank of N50 Billion.

Credit support for healthcare industry; loans to pharmaceutical companies, hospital and health care companies.

CBN grants all Deposit Monetary Bank’s extension for forbearance. Strengthening of CBN loan to deposit ratio policy.

CATEGORIES
TAGS
Share This

COMMENTS

Wordpress (0)