Nigerian central bank announces emergency measures
CBN will fund healthcare expansion and guarantee loans, and says currency will not be devalued
The Nigerian central bank has announced measures aimed at reducing the impact of two crises: the coronavirus pandemic and the slump in world oil prices.
The Central Bank of Nigeria said on March 16 it would guarantee a wide range of bank loans and cut the interest on some of its loans. It was also creating a fund to finance the expansion of Nigeria’s medical capacity, the CBN said. The announcement came four days after the CBN publicly condemned unspecified foreign exchange traders for
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Financial Stability
Banks should share data on borrowers, working paper argues
Compulsory data sharing has increased credit supply, Hungarian central bank paper says
Fed green lights more capital relief trades
Five US banks authorised to issue repeat credit-linked notes backed by financial guarantees
Credit rating agency failures continue despite EU reforms, paper finds
Bond issuers are still “shopping” for good ratings, ECB paper says
ECB warns against AI market concentration in financial services
Using the same AI providers may amplify risks and threaten financial stability
IMF reaches staff-level agreement with Argentina on EFF
The fund could release a tranche of nearly $800m upon board approval
Geopolitical events create tougher financing conditions, ECB finds
Systemic crises are unlikely unless a significant shock occurs
Fed paper looks at US opioids crisis
Banks are causing credit contraction in worst-affected communities, researchers say
QE helped smooth sovereign bond yields, ECB paper finds
Eurosystem’s asset purchases helped reduce effect of “auction cycle”, researcher says
Most read
- Trends in reserve management 2024: survey results
- People: RBI appoints senior officials
- China to start selling ultra-long term sovereign bonds