[BREAKING] Coronavirus: CBN reduces interest rate on N3tn intervention fund to 5%

The Central Bank of Nigeria on Monday announced policy measures to tackle the impact of Coronavirus on the economy.

The CBN Governor, Mr Godwin Emefiele, announced the measures during a media briefing at the apex bank headquarters in Abuja.

He said from March 1, the apex bank would grant one year moratorium on all of its intervention fund.

The loans are given through the Commercial Credit Guarantee Scheme and the Anchor Borrowers Programme among others.

Emefiele also said the bank had agreed to reduce the interest rate on all of its intervention funds from nine per cent to five per cent for one year period effective March 1, 2020.

Details later…

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