16 March 2020 – Central Bank of Nigeria extends loan moratorium by one year

Type of Intervention: Financial and Economic
Sectors Involved: Finance/Economy, Health, Private Sector and Businesses, Supply Chains, Central Bank
Level of Jurisdiction: Federal
Lead People/Agency: The Federal government Nigeria engaged the Central Bank of Nigeria (CBN) to agree on the Debt and Interest Moratorium.

Overview: The Central bank of Nigeria has granted a one-year moratorium extension to reduce the burden of loan repayment by businesses. This means that any intervention loan currently under moratorium has been granted additional one-year period.
Full details here: https://punchng.com/cbn-grants-businesses-one-year-extension-on-loan-repayment/

Type of Justification: Advice of INTERNAL government advisory committee or group
Source of Evidence or Justification: National – government
Evidence/Justification: The extension of a moratorium on principal repayments for loans for one year would help businesses that have been affected by the covid 19 pandemic to restructure.