Cbn to fund research on corona virus vaccine

The Central Bank of Nigeria to fund research on corona virus vaccine for Nigeria scientist.

The central bank of Nigeria managing director or governor, Godwin Emefiele announced that the central bank of Nigeria would provide fund to sponsor and encourage the research for nigeria's scientist and pharmacist to develop a vaccine.

The Cbn governor announcement was made at the unveiling of the THISDAY dome testing, tracing and treatment centre on tuesday in to federal capital territory,abuja.
In his statement he cited that they were were urgently creating a framework that involves grants ans long term facilities for researchers science institutions,biotechnology firms and other forms of platform or organisation for research so as to develop a vaccine for the virus in nigeria.

According to his statement,it said;
"Needless to know if we are to wait for foreign countries to develop their vaccines,we will be the last in queue to recieve curative remedies for our teeming population.practitioners in the pharmaceutical and health sectors will be able to access finance at a single digit rate through fund, we are working with financial institutions to enable continuous flow of credit to viable businesses while putting in place provisions such as moratoriums and restructuring or existing funds under Cbn intervention funds  that has been provided to business".

Godwin Emefiele also added that the central bank of Nigeria recently launched a 100bn health care intervention fund and several initiatives like that of the provision of 1 trillion naira for firms operating in the agricultural and manufacturing sector to contain the spread of corona virus pandemic increasing gradually in the country.