[BREAKING] Coronavirus: CBN announces N1.1tn intervention fund

The Central Bank of Nigeria on Wednesday announced a N 1 .1 tn intervention fund to support critical sectors of the economy.
The CBN Governor , Mr Godwin Emefiele said this in a statement made available to journalists .
The governor in the statement said the out of the N 1 .1 tn , about N 1 tn would be used to support the local manufacturing sector as well as boost import substitution .
He added that the balance of N 100 bn would be used to support the Health Authorities to ensure laboratories, researchers and innovators work with global scientists to patent and produce vaccines and test kits in Nigeria .
This, he said, was imperative following the Coronavirus pandemic , adding that the N 100 bn would enable the country prepare for any major crises ahead .

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