The federal government in a bid to preventing an economic crash or recession as economic experts predicted few months ago, rolled out cash in form of loan to Nigerians through the Apex bank (CBN).
Most of these loans may not be paid back as loan basic conditions are waived there by allowing more people to access the funds. CBN may convert the covid-19 loan to a grant due to these following reasons.
1. If Covid-19 vaccine is not discovered within the moratorium period of the loan.
This is because figures of the deadly Covid-19 cases seems not to decrease within the three months moratorium period of the loan.
2. If the federal government decides to enforce another lockdown. If the federal government lockdown the country’s economy again due to the increase in the number of Covid-19 cases.
Whichever way the CBN may decide to face, we are advising the beneficiaries of this loan facility to invest it wisely with the mind and zeal to pay back.
This post is not in anyway suggesting an extravagant use of the loan.
If you have any other reason why the CBN’s Covid-19 loan may not be repaid please write in the comments below.