Nigerian central bank announces emergency measures

godwin-emefiele
CBN governor Godwin Emefiele

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

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