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CBN Discloses How Much Has Been Disbursed From N50 Billion COVID-19 Intervention Fund

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COVID-19 Intervention Fund CBN

CBN Discloses How Much Has Been Disbursed From N50 Billion COVID-19 Intervention Fund

The Central Bank of Nigeria (CBN) has announced the disbursement of over N49 billion out of N50 billion targeted facilities for households and small businesses to over 80,000 families and households.

The apex bank introduced the N50 billion Targeted Credit Facility as a stimulus package to support households and micro, small and medium enterprises that are affected by the coronavirus pandemic.

This was disclosed by the Director for Corporate Communications for CBN, Isaac Okoroafor, during a television interview.

The CBN spokesperson said that the apex bank had announced a couple of measures and policies aimed at making sure that Nigeria’s economy does not slip back into recession due to the coronavirus pandemic and low oil prices.

Okoroafor, in his response to why CBN is confident despite gloomy economic forecast, “At the CBN we have looked at it and we felt that everyone must work hard to ensure that the economy does not slip back into recession. We have done that with a couple of interventions, we have the targeted credit facility for households and small businesses which as we speak, out of the N50 billion earmarked for this, more than N49 billion has been disbursed to over 80,000 families and households.

‘’We also have the N100 billion healthcare facility which quite a number of operators in that area have benefitted and we are inviting others to come in. we believe that Nigerians have the power, have the energy, have the creativity to ensure that this economy doesn’t go into recession.

“Of course there is consensus across the world, most economies if not all will go into recession this year and Nigeria is not totally immune from it, but we are working as a monetary authority, as a public institution to ensure that those Nigerians, families and small businesses whose businesses were negatively impacted by this pandemic, that we give them the opportunity to walk themselves out of that kind of recession and to be able to maintain even their businesses as they go on and their livelihoods.”

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Going further, Okoroafor said that the CBN would ensure that small businesses that employ 2 or 3 people and account for most of the jobs in the country continue to do their business without allowing the coronavirus pandemic to affect them. He pointed out that making Nigerians work hard would ensure that the pandemic does not push the country into a recession.

He said that the apex bank would always go against smugglers, round-trippers, and chronic debtors in the banking system, those whose only business was to import non-essentials into the country and forex speculators who see the bank as their enemies.

The CBN spokesman also pointed out that the CBN has a N1 trillion fund for the manufacturing sector and is aimed at ensuring that productivity is enhanced, thereby working a way out of the impact of this pandemic. He said the bank will not be distracted by news that are being circulated on social media, questioning the integrity of the bank and its Governor, Godwin Emefiele, as that was the stock in trade of those peddling those falsehoods.

Watch the interview below:

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COVID-19

BREAKING: CAF President Tests Positive for COVID-19

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CAF

The President of the Confederation of African Football, CAF, Ahmad Ahmad, has tested positive for COVID-19.

This was contained in a statement on the website of the continental football governing body on Friday.

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The statement read, “The president after his arrival to Cairo on Oct. 28, presented mild flu symptoms and submitted to the COVID-19 protocol.

“Today, the test results are positive and the president immediately self-isolate for at least the next 14 days at his hotel.

“All those who have come into contact with Ahmad over the past seven days, especially during his trip to Morocco for the CAF Confederation Cup, have been informed and requested to take the necessary measures.”

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COVID-19

COVID-19: Protests Takes Place Across Italy Over Restrictions

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ITALY PROTESTS

Protests took place across Italy on Monday over new restrictions to curb the country’s second wave of COVID-19.

Clashes were reported in the northern cities of Milan and Turin, where petrol bombs were thrown at officers.

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In Milan tear gas was used to disperse protesters, and thousands of people gathered in the centre of Naples.

The demonstrations began soon after the national government’s order to close restaurants, bars, gyms and cinemas came into effect at 6pm local time.

Many regions have also imposed night-time COVID-19 curfews – including Lombardy, Milan and Piedmont, Turin.

The violence was blamed on extremist agitators and police said 28 people had been arrested in Milan alone.

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COVID-19

COVID-19 Now a Threat to Attainment of the SDGs — BUHARI

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Buhari Approves N10 Billion

President Muhammadu Buhari has said that the COVID-19 outbreak had threatened to disrupt the progress recorded on Sustainable Development Goals (SDGs) in Nigeria.

Buhari spoke at the virtual inaugural SDGs Moment convened by UN Secretary-General Antonio Guterres, during the high-level week of the 75th UN General Assembly on Friday.

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The President, however, said Nigeria was addressing the threat by re-dedicating efforts towards economic diversification, focusing on agriculture and the mining sectors.

‘’Nigeria has made good strides in Sustainable Development Goals domestication processes, as we have begun the re-alignment of the National Statistical System and indicators of the SDGs.

‘’We have developed a novel home-grown ‘Integrated Sustainable Development Goals Model, as an analytical framework for measuring how policy making can address the indivisible nature of the Sustainable Development Goals.

‘’Nigeria has also set up a Model Private Sector Advisory Group and SDGs Donors’ Forum with the aim of engaging critical stakeholders towards the attainment of the SDGs,” he said.

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COVID-19 PREVENTION

infectious diseases in your community. It is very important to wash your hand frequently with soap under running water.

COVID-19 IS REAL

#COVID19NIGERIA Situation Report

The #COVID19Nigeria situation report for 21st July, 2020 has been published. Our daily reports provide a summary of the epidemiological situation & response activities in Nigeria

The #COVID19Nigeria situation report for 21st July, 2020 has been published. Our daily reports provide a summary of the epidemiological situation & response activities in Nigeria

@Africa CDC

The African Union and Africa CDC will virtually rollout the Partnership to Accelerate COVID-19 Testing (PACT) in Africa tomorrow 4 June, 2020 at 11.00 am Eastern Africa Time.

The African Union and Africa CDC will virtually rollout the Partnership to Accelerate COVID-19 Testing (PACT) in Africa tomorrow 4 June, 2020 at 11.00 am Eastern Africa Time.

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Gallant Officer
"Also found worthy of honour was Bashir Abubakar, an Asst Comptroller-General of Customs, who rejected a bribe of $412,000 per container offered him by drug traffickers seeking to bring 40 containers of Tramadol into Nigeria. A fine example of incorruptibility, worthy of emulation"

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