Ministry of finance, CBN obtain exemption for skeletal operations

The Ministry of Finance and the Central Bank of Nigeria (CBN) have obtained an exemption from President Muhammadu Buhari to allow very skeletal operations in the Financial System and money markets in order to keep the system in light operations during the lockdown period.

Buhari on Sunday during a nationwide broadcast ordered the restriction of movement in Lagos, Ogun and Federal Capital Territory, Abuja, following the persistent spread of Covid-19 in the country.

A statement jointly signed by Zainab S. Ahmed, Minister of Finance, Budget and National Planning, and Godwin I. Emefiele, Governor, CBN, stated that these restrictions are critical to significantly reduce the transmission rate of the disease and make it much easier for health professionals to trace, test and isolate patients.

The statement said all relevant staff of affected outfits and agencies should look out for further instructions from their immediate bosses.

The aim is for the further exemption is to ensure that Nigerians can still perform online transactions and use ATMs whilst observing these restrictions.

“We are mindful of the difficulties these restrictions would bring on ordinary Nigerians and are grateful to the President for approving these exemptions, which should help ease some of these burdens. We urge all Nigerians to be patient, cooperative and united as all hands are on deck to defeat this virus,” the statement reads.

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.