“CBN To Fund Research For Nigerian COVID-19 Vaccine” -Emefiele

 “CBN To Fund Research For Nigerian COVID-19 Vaccine” -Emefiele

Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, says the Country’s Apex Bank is developing a framework through which it can provide financial support to achieve a Nigerian COVID-19 vaccine.

Mr Emefiele said this at the unveiling of the THISDAY Dome testing, tracing, and treatment centre in Abuja on Tuesday, May 12, 2020.

The THISDAY Dome is expected to improve health facilities available to combat the viral disease.

According to the Nigeria Centre for Disease Control, NCDC, Nigeria, on Tuesday, recorded 146 new cases of the novel Coronavirus, bringing its total infections to 4,787.

The country has also recorded 158 deaths as a result of the virus.

Mr 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.”

He noted that 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.

The CBN Governor said the Bank recently launched an N100 bollion healthcare intervention fund; explaining that: Practitioners in the Pharmaceutical and healthcare sectors will be able to access finance at a single-digit rate through this fund.

Mr Emefiele noted that in a bid to cushion the effects of the pandemic on the Nation’s economy, the CBN has implemented several initiatives such as the provision of one trillion naira facility for Firms operating in the agriculture and manufacturing sectors.

He added that: “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.”


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