Nigeria’s private sector coalition contribution against COVID-19 hits ₦19.4b

The Nigerian Private Sector Coalition Against COVID-19 (CACOVID) has so far realised N19.4 billion to help fight COVID-19 pandemic.

A statement issued on behalf of the coalition by the Director, corporate communications, CBN, Isaac Okorafor, revealed that 47 donors, including individuals, banks and other corporates have supported the fund. In the statement, showed that four contributors also pledged to redeem N3.4bn.

Voice of Nigeria recalls that the Central Bank of Nigeria  recently announced plans to raise about N120bn to curb the coronavirus pandemic.

The CBN Governor, Godwin Emefiele, had said on behalf of the Bankers’ Committee and in partnership with the private sector led by Aliko Dangote Foundation and Access Bank, they had come together to form the Nigerian Private Sector Coalition Against COVID-19.

The update of the contribution was made known in a document released by Mr Isaac Okorafor, Director, Communications of the Central Bank of Nigeria (CBN) in Abuja on Friday.

Okorafor disclosed that Wacot Rice Limited, Tolaram Africa Enterprises and Bank of Industry made donations of N500 miillion each.

He said former Vice President, Atiku Abubakar among other donors gave N50 million to the relief fund.

The reports state that CBN and Aliko Dangote were the highest contributors of two billion naira each.

Abdul Samad Rabiu (BUA Sugar Refinery), Segun Agbaje (GTB), Tony Elumelu (UBA),  Oba Otudeko (First Bank),  Jim Ovia (Zenith Bank), Herbert Wigwe (Access Bank) and Femi Otedola of Amperion Power Distribution donated one billion naira each to the relief fund and Deji Adeleke of Pacific Holding Ltd made N500 million donation.

It will also be reports that Union Bank Plc, Sterling Bank Plc, Standard Chartered Bank, Stanbic IBTC, Citi Bank Nigeria Ltd, FCMB, Fidelity Bank, ECOBank, African Steel Mills donated N250 million each and Multichoice Nigeria Limited contributed N200 million among others.