The Central Bank of Nigeria (CBN) Thursday unveiled private sector coalition plan to raise N120 billion to fight Coronavirus (COVID-19) pandemic in Nigeria.
The fund will be channeled into procuring equipment and materials to combat the menace of COVID-19 pandemic in the Nigeria.
CBN Governor, Godwin Emefiele, said the Nigerian Private Sector Coalition Against COVID-19 was established by the apex bank on behalf of the Bankers’ Committee and in partnership with the private sector led by Aliko Dangote Foundation and Access Bank plc.
The Funding Committee members are expected to, through their organizations, donate at least N1 billion each to the designated account expected to be opened at the apex bank today.
Emefiele, who briefed the media in company of Access Bank Group Managing Director, Herbert Wigwe, said Nigeria must prepare for the worst in responding.
He said the steering committee will chaired by the Secretary to the Government of the Federation, Boss Mustapha who currently chairs the Federal Government Committee on Covid-19. Other members of the Committee will announced later.
Funding Committee will be responsible for the initial funding of the effort. Membership comprise, the CBN Governor, Aliko Dangote, Herbert Wigwe, Jim Ovia, Tony Elumelu, Segun Agbaje, Abdulsamad Rabiu and Femi Otedola.
According to Emefiele, each member of the committee is to ensure that their institution contribute at least N1 billion to this effort.
He said that more members are allowed as long as they are willing to contribute at least N1 billion.
Current statistics showed that a total of 499,125 persons have been infected globally, 81,285 in China, 74,386 from Italy, 73,386 from the United States and 56,197 persons from Spain. In Africa, South Africa has 927 infected persons.
The CBN boss said that although the number in Nigeria so far stands at 51, the apex bank is concerned that this number may rise exponentially in the next two weeks. In terms of fatalities, China has had deaths of 3,287, Italy 7,503, USA 1,062, Spain 4,145 and so far one in Nigeria.
He said the objectives of the coalition are to mobilize private sector thought leadership, mobilize private sector resources, increase general public awareness, education and buy-in and provide direct support to private and public healthcare’s ability to respond to the crisis.
The coalition is also expected to support government effort. In doing this, the Coalition has set up four major committees comprising of Steering Committee to provide leadership and steer the coalition and committees in procuring all needed funding, equipment and materials for the battle against this pandemic.
There is also the operational Committee which is responsible for project management, logistics, communication and advocacy.
This comprise CBN Governor, Aliko Dangote Foundation, Access Bank, Zenith Bank, GT Bank, Stanbic IBTC, Ecobank, Fidelity Bank, Unity Bank, Nigerian Breweries Plc.
