Home BUSINESS BANKING & FINANCE Bankers Committee Raises N39 Billion For, Spends N43 Billion On Coronavirus Palliative

Bankers Committee Raises N39 Billion For, Spends N43 Billion On Coronavirus Palliative

The Bankers Committee, made up of the Central Bank of Nigeria and the Deposit Money Banks as well as  key stakeholders in the private sector have collectively raised a total sum of N39,646,100,039.00 to support work with the government in providing support in areas that would result in  improved health and societal outcomes following the outbreak of coronavirus.

The CBN Governor, Godwin Emefiele, who briefed news men today, November 25 on the efforts of the Bankers Committee, in Coalition Alliance Against COVID-19 (CACOVID), said that the sum of N43,272,562,831 had so far been spent on the acquisition of , not only medical equipment and supplies , but also Food palliatives for the vulnerable.

He said that the Coalition was formed in view of the funding challenge faced by  Federal and State governments and the need to improve the capacity of the health institutions to deal with emerging cases of COVID-19 in the country.

“We sought to aid the governments in improving testing capability, and management office positive cases of COVID-19 in Nigeria. In addition, CACOVID was expected to provide palliatives to vulnerable members of our society, particularly those who earn daily incomes, and had been severely affected by the lockdown.

“As a result of these objectives, CACOVID requested and indeed received an outpouring of support from over 200 well-meaning Nigerians and corporate organizations, who provided in kind donations, as well as funds to the tune of N39,646,100,039.00 billion in support of the fight against COVID-19.

“In order to ensure that these funds were judiciously utilized, a transparent and accountable framework was put in place  by highly rated firms of chartered accountants. We engaged KPMG Professional Services as book keepers and MessrsEnrst and Young as Auditors.Ladies and Gentlemen , in Line with our promise to be open and Transparent in the utilization of the funds donated by our partners, CACOVID has today decided to provide the general public with full details relating to the procurement of goods and services along with the disbursement schedule of procured items. These details will be posted on our websitein due course.

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“The funds raised by CACOVID was used to support3 key priorities. These priorities include;

“MedicalFacilities and Equipment – Working with other stakeholders, CACOVID developed39 fully equipped isolation centers across the 36 States of the Country including the Federal Capital Territory ( FCT) . The sum of N4,194,262,899 was spent in Building Isolation Centers. In addition, medical equipments such as PCR test kits for suspected cases of COVID-19were procured along with other required medical items at a cost of N9,017,561,723. This support by CACOVIDenabledmany states to deal with an unexpected surge in cases of COVID-19.

“Food relief programs – As part of our efforts to cushion the effects of the lockdown onvulnerable Nigerians affected by the restrictions in movement, CACOVID provided palliatives in the form of essential food items to 1.7m households, which is equivalent to supporting 8 million Nigerians. A total of N28,767,590,517 was spent procuring these Food supplies.These palliatives were acknowledged and disbursed by various state governments; and a schedule showing the various quantities and dates of delivery will also be posted on our website for public scrutiny. “Our intention for distributing these items through the State Government  , just like in the case of the isolation centers was based on the thinking that the state governments has the closest contacts with the most vulnerable in our society for whom these support were meant.

“Communication Plans –CACOVID also worked to improve awareness in rural communities on the COVID-19 virus, and the measures community health workers and other members of society should take when someone in the community is suspected of having symptoms similar to that of COVID-19. Print, TV, radio and social media were leveraged as part of CACOVID communication plans.

“We would like to use this opportunity to express our sincere gratitude to  well-meaning Nigerians and businesses, who supported CACOVID in its effort to curb the spread of COVID-19 in Nigeria, as well as in the support provided to vulnerable Nigerians.”

Editorial staff
Editorial Staff at Greenbarge Reporters is member of a team of journalists led by Editor-in-Chief, Yusuf Ozi Usman.

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