CBN Cuts Interest Rates, Provides N50 Billion Credit

Source: Premium Times

The Central Bank of Nigeria has announced its first set of policies to cushion the negative impact the deadly Coronavirus on Nigerian businesses and economy. 

The CBN governor, Godwin Emefiele, announced in Abuja that the interventions included the immediate cut on interest rates of all applicable CBN intervention facilities from nine per cent to five percent per annum for one year, effective March 1.

The CBN said it has about N3 trillion under various intervention programmes it operates through the various deposit money banks.

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