ANALYZING THE UNCONVENTIONAL MONETARY POLICY AND CORONA VIRUS (COVID-19) PANDEMIC IN NIGERIA: ...

Given the crucial unfavourable repercussions for both the global and Nigerian economies, the CBN's response to the highly regarded COVID-19 pandemic had become inevitable.

"Remarkable disruptions in global gracefully chains, a sharp decrease in unrefined petroleum costs, unrest in global stock and money related markets, farreaching undoings in brandishing, amusement, and business occasions, the lockdown of vast areas of development of people in numerous nations, and intercontinental travel limitations across basic air routes on basic air routes on basic air routes on basic air routes on basic air routes on basic air routes on basic air routes on basic air routes on basic air routes on basic air These outcomes have had genuine adversarial implications in key places.Oil and gas, carriers, assembling, exchange, and consumer markets are only a few examples. On this backdrop, the CBN announced some unorthodox monetary policy aimed at influencing macroeconomic outcomes, swelling, and conversion scale during this pandemic emergency. Its tools include resource purchases (quantitative easing), expanded liquidity operations, negative borrowing costs, and forward guidance. The unorthodox monetary policy has the effect of promoting fiscal soundness and financial intervention, as well as avoiding a lot of more downturns that could have occurred in Nigeria as a result of the COVID-19 pandemic. The investigation uncovered the need for corporate unconventional monetary policy measures with counterbalancing policy measures to approve such largescale prudential measures and fortifying the financial association, as well as updating the framework of liquidity infusions with proper motivating force plans that have proven helpful in reducing unfavourable impacts and others. The investigation assumed that the CBN is generally proactive in publicising the impact of the COVID-19 and recommended that the ban on the peak bank's intercession be expanded, the CBN's Loan to Deposit Ratio (LDR) policy and administrative self-control be strengthened, and the number of mediation offices be increased to provide better service.advances to pharmaceutical companies looking to expand or open manufacturing facilities in the United States.

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