The Central Bank of Nigeria (CBN) announced the intention to increase its intervention program in sectors affected by the Coronavirus pandemic by N1 trillion.
The plan was announced on Wednesday by the CBN governor Godwin Emefiele who said the intervention was in response the devastating effect of the global pandemic.
According to the CBN governor, the intervention will help boost local manufacturing and provide jobs by providing substitution for importation in the Nigerian economy. It is also a way of providing succour for the sectors already impacted by the Covid-19 virus.
Emefiele who said the CBN will be reeling out more supports for critical sectors of the evonomy in days come, directed all banks in the country to support companies in the health sectors as a way of ameliorating the Covid-19 impact.
CBN on its part has announced a N100 billion facility in support of health laboratories in the country which according to Emefiele is a major focus of the entire package.