CBN rallies companies to raise N120bn to combat covid-19

The Central Bank of Nigeria (CBN) Thursday struck a synergy with the organised private sector, headed by the Aliko Dangote Foundation and Access Bank Plc, and the Bankers’ Committee to launch a campaign against the coronavirus spread, named the Nigerian Private Sector Coalition against COVID-19.

It declared that the alliance became necessary as the nation took stock of the global emergency and Nigeria grappled with the sweeping ramifications of the plague.

Godwin Emefiele, Governor of the CBN, together with Aliko Dangote, Segun Agbaje, Abdulsamad Rabiu, Jim Ovia, Herbert Wigwe and Femi Otedola constitute the new committee.

“As a follow up to the series of engagements and releases from the CBN in response to the impact of the covid-19 on the global and Nigeria economy, the CBN has, in the last few days began engaging Nigeria compatriot stakeholders in the private sector on how to provide support to the federal government in procuring equipment and materials to combat the menace of this unfortunate pandemic in Nigeria.

“Information gathered so far has revealed that to procure all needed equipment, material, and all infrastructure needed to fight this pandemic, over N120 billion need to be raised. The Bankers Committee and these important Stakeholders will be required to step up to support this endeavour,” the CBN stated.

Read also: UBA commits $14m to fighting covid-19 in Africa

Pan-African lender, United Bank for Africa (UBA) Plc, had Thursday committed $14 million in cash and kind towards curbing the advance and facilitating the treatment of the pandemic in 20 African countries.

The coalition has established four divisions namely the steering, funding, operational and technical units upon whom lies the onus of overseeing the leadership, funding, project management and data collection for the whole group.

The CBN expects every member of the committee to ensure the institution they represent donate nothing less than N1 billion to this course and welcomes voluntary membership provided such organisations are capable of meeting its minimum contribution requirement.

It said: “we are already engaging other important stakeholders in Nigeria and abroad, such as the NNPC and players in oil industry. An account will be set up at the Central Bank of Nigeria to receive both Naira and foreign currency from our donors.

“The Technical Committee will be providing information about the venue where equipment and materials will be received just for those who wish to donate materials and equipment. They have made commitment to provide funding, equipment and material as well.”

 

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