CBN, banks to support airlines, media industry
The Bankers’ Committee, led by Central Bank of Nigeria (CBN) on Tuesday unanimously agreed to extend special facilities to Nigerian-registered airlines and the media industry in to enable them adequately address the negative impact of the coronavirus (COVID-19) pandemic.
Also in order to boost export, CBN governor, Mr. Godwin Emefiele announced plans to hold a meeting with chief executive officers of multinational companies.
Addressing the Bank Chief Executives at the bi-monthly virtual meeting of the Bankers’ Committee on Tuesday, August 25, 2020, Mr. Emefiele urged the banks to do all within their powers to support airlines in the country, noting that such support was critical to helping the industry recover from the economic crisis triggered by the COVID-19 pandemic.
Emefiele similarly urged the banks to support the efforts of the media industry in Nigeria, to cope with the lingering pandemic, in order to avoid massive job losses in the industry.
CBN had in the advent of the coronavirus in Nigeria, announced a N1.2 trillion intervention funds to support critical sectors of the economy, N1 trillion of which was to support local manufacturing sector and to boost import substitution.
The remaining N100 billion of the intervention fund was to support the health sector in equipping laboratories and enhancing research to produce vaccines and test kits in Nigeria.
The bank, also in March 2020, unveiled guidelines for the implementation of a N100 billion Targeted Credit Facility (TCF) as a stimulus package to support households and micro, small and medium enterprises affected by the COVID-19 pandemic.
With support expected for the media in Nigeria, many media houses will be able to weather the storm generated by the coronavirus pandemic.
YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE
Nigeria’s Economy Shrank By 6.10% In Q2 2020 — NBS
NIGERIA’S Gross Domestic Product (GDP) in real terms declined by -6.10 per cent (year-on-year) in Q2 2020, thereby ending the three-year trend of low but positive real growth rates recorded since the 2016/17 recession. This is according to the second quarter (Q2) GDP report, released by the National Bureau of Statistics (NBS) on Monday. When compared with Q2 2019, which recorded a growth of 2.12 per cent, the Q2 2020 growth…
Mailafia Sues Police, Shuns Invitation
FORMER deputy director, Central Bank of Nigeria (CBN), Dr Obadiah Mailafia, has taken the Nigeria Police before the Plateau State High Court, asking the court to restrain the police from inviting him to appear before the Deputy Inspector-General (DIG) Force Investigation Department, Police Headquarters, Abuja. After two consecutive invitations and interrogation by the Department of State Services (DSS) over his…
My Four Weeks Battle With COVID-19 —Segun Awolowo
While many people still express the belief that COVID-19 is just hype, the executive director of the Nigerian Export Promotion Council (NEPC), Segun Awolowo, while narrating his four weeks battle with the virus, has called on people to take the virus seriously, be conscious of the infection and follow laid down preventive measures, adding that fear is the real killer for infected people. Yejide Gbenga-Ogundare reports…
Mali Junta Wants 3-Year Military Rule, Agrees To Free President
THE junta that seized power in Mali wants a military-led transitional body to rule for three years and has agreed to release ousted president Ibrahim Boubacar Keita, a source in a visiting West African delegation said Sunday. “The junta has affirmed that it wants a three-year transition to review the foundations of the Malian state. This transition will be directed by a body led by a soldier, who will also be head of state,” a source in the…