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CBN leads in corporate support for COVID-19



GOVERNOR of Central Bank of Nigeria (CBN) is leading Nigeria’s effort at stimating households and businesses back to post-pandemic feasibility.

  CBN Governor, Mr. Godwin Emefiele, said though creation of Healthcare Care Sector Research and Development Intervention Scheme (HSRDIS) or Health Sector Intervention Facility (HSIF) in 2020 was received by Nigerians with both applause and skepticism, the bank has touched businesses more than anyone else since the country got hit by the pandemic.

He listed the N200 billion fund introduced few months into the COVID-19 pandemic in 2020 as one major area the apex bank has delivered on its corporate social responsibility.

  Chairman, Pharmaceutical Manufacturers Group of Manufacturers Association of Nigeria (PMG-MAN), Dr. Fidelis Ayebae also said, “every company that met the loan requirement got it. We are happy with the CBN for the initiative and the way it was implemented. Members that are yet to access it are working with the commercial banks with whom they have a relationship to close documentation gaps before moving on to CBN. Overall, it is success in intervention. Some of the impact can already be seen in the financial performance of the early recipients of the loans.”

  To President of Nigerian Association of Resident Doctors (NARD), Dr. Uyilawa Okhuaihesuyi, “it is commendable.”

Similarly, pharmacists under the aegis of the Pharmaceutical Society of Nigeria (PSN) have confirmed that more than 90 per cent of the N100 billion COVID-19 intervention fund for the healthcare/pharmaceutical industry have been accessed by members.

  While clarifying some concerns of stakeholders, Director of Corporate Communications of CBN, Mr. Osita Nwanisobi, said CBN was monitoring and evaluating the Health Sector Intervention Facility (HSIF) and thus far, there has not been any diversion. Besides, the CBN also carries out impact assessment of the facility.

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