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Home » News » COVID-19: CBN to fund research for vaccine – Godwin Emefiele

COVID-19: CBN to fund research for vaccine – Godwin Emefiele

by Matthew John Alex
3 years ago
in News
Reading Time: 2 mins read
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The Central Bank of Nigeria, CBN, has revealed that it will be funding the research for COVID-19 vaccine in the country.

This disclosure was made by the Governor of CBN, Godwin Emefiele at the unveiling of the THISDAY Dome testing, tracing, and treatment centre on Tuesday in Abuja.

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Emefiele said, “Needless to state that if we are to wait for foreign countries to develop their own vaccines, we will be the last in the queue to receive curative remedies for our teeming population.”

According to Emefiele, the framework will involve grants and long term facilities that will be provided to “researchers, science institutions and biotechnology firms to develop the Nigerian Vaccine.”

Emefiele further explained that the apex bank recently launched an N100bn healthcare intervention fund.

“Practitioners in the Pharmaceutical and healthcare sectors will be able to access finance at a single-digit rate through this fund,” he explained.

He said that in a bid to cushion the effects of Coronavirus on the country’s economy, the apex bank has made an implementation of several initiatives such as the provision of one trillion naira facility for firms operating in the agriculture and manufacturing sectors.

“We are also working with financial institutions to enable the continuous flow of credit to viable businesses while putting in place provisions such as moratoriums and restructuring of existing loans under CBN intervention funds that have been provided to businesses,” he added

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Matthew John Alex

Matthew John Alex

Matthew John Alex; The founder and CEO of Naijatech360 and Naijanews360. I am a web developer with experience in JavaScript, jQuery, HTML/CSS(Bootstrap), and PHP. I am also a digital journalist and copywriter with experience in content creation, SEO, and web design using WordPress, Wix, and several others.

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