BREAKING: Central Bank Of Nigeria Announces N1.1 Trillion Intervention Fund, To Crush The Deadly Coronavirus Pandemic, Among Others

The Central Bank of Nigeria, CBN, has on Wednesday, announced a N1.1 trillion Intervention Fund, to support critical sectors of the economy, amid the coronavirus pandemic.

The CBN Governor, Godwin Emefiele, said this in a statement made available to Journalists.

The Governor in the statement, noted that out of the N1.1 trillion, about N1 trillion would be used to support the local manufacturing sector, as well as boost import substitution.

He added that the balance of N100 billion,  would be used to support the Health authorities, to ensure that Laboratories, Researchers, and Innovators, work with global Scientists, to patent and produce vaccines and test kits in Nigeria.

This, he said, was imperative, following the coronavirus pandemic, adding that, the N100 billion, would enable the country prepare for any major crisis ahead.

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