Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,193,933 members, 7,952,762 topics. Date: Wednesday, 18 September 2024 at 11:31 PM

COVID-19: Nigeria Announces $136M To Help Businesses - Business - Nairaland

Nairaland Forum / Nairaland / General / Business / COVID-19: Nigeria Announces $136M To Help Businesses (645 Views)

How I Help Businesses Make Millions / MTN Nigeria Announces One-day Kid CEO, As Lagos Experiences 5G / Why Some Websites Don't Help Businesses In Nigeria (2) (3) (4)

(1) (Reply) (Go Down)

COVID-19: Nigeria Announces $136M To Help Businesses by purplerope: 12:25pm On Apr 04, 2020
Central bank head says move will help small, medium-sized businesses, airline service providers, hotels, health care workers

*LATEST ON CORONAVIRUS OUTBREAK*

COVID-19: Nigeria announces $136M to help businesses

Central bank head says move will help small, medium-sized businesses, airline service providers, hotels, health care workers

Nigeria's central bank announced Monday a credit relief of $136.6M to businesses affected by the coronavirus pandemic.

Central Bank of Nigeria (CBN) Governor Godwin Emefiele said households, small and medium-sized enterprises, airline service providers, hotels, health care merchants will benefit from the funds.

"The CBN hereby establishes a facility through for households and small- and medium-sized enterprises (SMEs) that have been particularly hard hit by Covid-19," he said at a news conference.

He noted the pandemic has "significant adverse consequences" for the global and Nigerian economies, including crude oil supplies, stock, sporting events, financial markets, entertainment and hospitality industries.

Other interventions announced by the bank include reduction of interest rates for the loan from 9% to 5% retroactively to March 1.

Nigeria has recorded two cases of the virus known as COVID-19 including an index case of an Italian businessman.

But the national disease control center warned Monday against complacency.

It said the outbreak could be devastating in a country of 200 million people if it fails to take serious hygiene measures.
Re: COVID-19: Nigeria Announces $136M To Help Businesses by waleyp(m): 12:54pm On Apr 04, 2020
What about those who have applied for the loan and where waiting disbursement before the covid-19 thing came up
Re: COVID-19: Nigeria Announces $136M To Help Businesses by Sunnymatey(m): 12:55pm On Apr 04, 2020
How do we access these monies?
Re: COVID-19: Nigeria Announces $136M To Help Businesses by xcabczyxabczzzz: 1:04pm On Apr 04, 2020
waleyp:
What about those who have applied for the loan and where waiting disbursement before the covid-19 thing came up
Doesn't make sense, the business is not yet tested and proven to be viable.

If they can actually disburse it to the rightful business folks affected, that is more viable to prevent lost of jobs.

(1) (Reply)

Make Money Online In Nigeria / SONCAP Requirements For Exporters In Nigeria / Automatic Smart Switch For Your Home, Office And Business

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 10
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.