CBN says to remain operational while Coronavirus lasts

Following the current impact of the Coronavirus (COVID-19) on the global economy coupled with efforts by the Nigerian Government, including partial lockdown in some States and at the Federal level, to check the spread of the virus in Nigeria, the Central Bank of Nigeria (CBN) it will remain open for business during this period.

In a statement by Isaac Okorafor, director, corporate communications department, the Apex bank said as a responsible public institution and regulator, it has triggered its business continuity plans to ensure that the Bank’s operations remain largely undisrupted at this present time when social distancing has become key to checking further spread of the virus.

The regulator also directed all Deposit Money Banks (DMBs) and other financial institutions to do same.

“The welfare and safety of our staff and their families, and indeed all Nigerians, remain top priority to us,” the statement said.

Consequently, with effect from Wednesday, March 25, 2020, till further notice, only essential staff of the CBN Head Office and the 37 Branches of the Bank will be expected to report for duty daily. In other words, staff in non-critical roles have been directed to stay at home and work remotely, when their services are required.

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“We have also directed all our staff to follow stipulated guidelines by the Federal Ministry of Health, National Centre for Disease Control (NCDC) and other relevant health agencies of government to curb possible spread of the virus in Nigeria”.

For the avoidance of doubt, the CBN, in line with its mandate of ensuring monetary and price stability, will remain open for business during these trying times, the CBN said.

HOPE MOSES-ASHIKE

Hope Moses-Ashike

Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks. She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings. Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.