CBN announces response measures to tackle COVID-19 menace

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Brand Spur
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CardinalStone Research
The Central Bank of Nigeria (CBN) has announced six initial policy measures to mitigate the impact of COVID-19 pandemic on the Nigerian economy.
These measures include:
  1. Extension of a moratorium on loans
  2. Interest rate reduction
  3. Creation of N50 billion fund
  4. Credit support for the healthcare sector
  5. Regulatory forbearance
  6. Strengthening of loan-to-deposit rate policy.
More analysis to follow.