March 18, 2020 / 5:12 PM / 21 days ago

Nigeria's central bank to inject 1 trln naira into manufacturing, imports -statement

ABUJA, March 18 (Reuters) - Nigeria’s central bank will inject 1 trillion naira ($3.27 billion) into local manufacturing and import substitution to stimulate the economy, it said in a statement on Wednesday.

Earlier this week the bank said it will create a 50 billion naira fund to combat the impact of the coronavirus pandemic on Africa’s biggest economy and allow banks to give their customers more time to repay loans. ($1 = 306.0000 naira) (Reporting by Camillus Eboh; Writing by Paul Carsten; Editing by Alexis Akwagyiram)

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