CBN has disbursed almost N3Trn to Nigerians as COVID19 relief— CBN Chief, Godwin Emefiele

Godwin Emefiele, the central bank of Nigeria —CBN Governor has said about N3trillion has been distributed to families, farmers and companies to lessen the impact of COVID-19.

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Godwin Emefiele said this in an interview with Arise TV at the 2021 Intra-African Trade Fair in Durban, South Africa.

commenting on complaints that the Central bank of Nigeria was overreaching its statutory bounds, Godwin Emefiele said the central bank had been playing complementary roles for the interest of Nigerians and businesses.

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Between 2020 and now, our data shows that we have disbursed at least N2trillion, almost N3trillion in loans to households, Micro, Small and Medium Enterprises, smallholder farmers, pharmaceuticals and health institutions.

Godwin Emefiele said. 

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The CBN Governor went further to say that large agricultural companies and manufacturing companies are also accessing 10 years loan with two-year moratorium and single digit rate.

Emefiele recalled that when coronavirus struck, President Muhammadu Buhari tasked him and Finance Minister Zainab Ahmed to work together and suggest an immediate response.

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He said Buhari subsequently approved the establishment of the Economic Sustainability Programme (ESP) chaired by Vice President Yemi Osinbajo.

The central bank played an active part to the extent that the fiscal authorities meant to contribute N500billion and monetary authorities provided almost about N1.5trillion.

This is not as grant but as loans to support people who were impacted by COVID-19 so they can get their businesses back.

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