Coronavirus: CBN Launches Support Schemes to aid Individuals, Businesses

As the worldwide  COVID-19 pandemic has affected businesses globally, it has caused disruptions in financial markets, drop in oil prices, cancellation of events, turmoil in global stock and financial markets, massive  lockdown of large swaths movements of persons in many countries, and intercontinental travel bans/restrictions on critical air routes across the world amongst others.

These outcomes have had severe consequences on households' livelihoods and business activities, resulting from drop in global demand, declined consumer confidence and slowdown in production.  

In response, the Central Bank of Nigeria has introduced a N50bn Targeted Credit Facility, an intervention fund to support Households and Micro, Small and Medium Enterprises affected by the Coronavirus COVID-19 Pandemic.

Affected businesses are directed to business affected visit the official response aid website to learn how your business can benefit from this fund. Also, eligibility covers households with verifiable evidence of livelihood adversely impacted by COVID-19, existing enterprises with verifiable evidence of business activities adversely affected as a result of the COVID-19 pandemic and Corporate enterprises with bankable plans to take advantage of opportunities arising from the COVID-19 pandemic

You can read more via the website here


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