In March 2020, the Central Bank of Nigeria released Guidelines for the Implementation of the NGN 50 Billion Targeted Credit Facility aimed at providing succor to households and MSMEs that have been adversely affected by COVID-19.

Five years ago, Amira Hawamdeh took out a loan for $423 to buy buttons and yarn to make purses and sweaters, and winter blankets to sell to her neighbors.

The Central Bank of Nigeria has announced its first set of policies to cushion the negative impact the deadly Coronavirus on Nigerian businesses and economy. 

The measures include a moratorium of one year on all principal repayments as well as interest rate reduction on all applicable CBN intervention facilities from nine to five percent per annum for one year effective 1 March, 2020.