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CBN To Fund Research For A Nigerian COVID-19 Vaccine – Emefiele

A file picture of CBN Governor, Godwin Emefiele.


Governor of the Central Financial institution of Nigeria, Godwin Emefiele, says the nation’s apex financial institution “is developing a framework” by way of which it will probably present monetary help to realize a Nigerian COVID-19 vaccine.

Mr Emefiele mentioned this on the unveiling of the THISDAY Dome testing, tracing, and remedy centre on Tuesday in Abuja.

The THISDAY Dome is anticipated to enhance well being services out there to fight the viral illness.

On Monday, Nigeria recorded 242 new circumstances of the novel coronavirus, bringing its whole infections to four,641, in accordance with the Nigeria Centre for Illness Management (NCDC).

The nation has additionally recorded at the very least 150 deaths on account of the virus.

“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,” Mr. Emefiele mentioned.

He mentioned the framework will contain grants and long run services that will probably be offered to “researchers, science institutions and biotechnology firms to develop the Nigerian Vaccine.”

Mr Emefiele mentioned the CBN just lately 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 defined.

In a bid to cushion the results of the pandemic on the Nigerian economic system, the CBN has applied a number of initiatives equivalent to the supply of 1 trillion naira facility for corporations working within the agriculture and manufacturing sectors, Mr. Emefiele mentioned.

“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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