All Things Fintech in Africa

COVID 19: CBN Give Grant to Selected Pharmaceutical Firms

As intervention efforts to curb the spread of coronavirus, the Central Bank of Nigeria and the Bankers Committee have announced that selected pharmaceutical firms will be given grants.  The grant to be given is to enable the pharmaceutical firms procure raw materials and equipment.

On March 21st, it was disclosed by the CBN Governor, Godwin Emefiele during a press release in Abuja.

The selected pharmaceutical companies for the grants include:

  1. Fidson HealthCare Plc
  2. May and Baker Plc,
  3. Neimeth International Plc,
  4. Unique Pharmacy,
  5. Swiss Pharmacy
  6. Dana Pharmacy
  7. Orange Drugs
  8. Sagar
  9. GSK
  10. Emzor Pharmaceuticals.

Although he mentioned that the list was not exhaustive as more companies will benefit.

According to Emefiele in a statement:

“The Banker’s committee took the decision  to support pharmaceutical companies given the fact that the present pandemic was of grave public health concern, coupled with the fact that many drug-manufacturing countries planned or had already banned the export of drugs and medical supplies from their respective countries, thereby leaving Nigeria no choice but to produce the drugs locally.”

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