Private Sector COVID-19 Support Fund Now N25.893bn

The Private Sector Coalition Against COVID-19, a special purpose vehicle created by the Central Bank of Nigeria (CBN) to mobilise private sector funds to support the fight against the COVID-19 pandemic, has raised N25,893,699,791.

The update of contributors as at 17th April, 2020 released by the CBN indicated that the donations came from 107 corporate and individual donations.

A breakdown of the donations show that the CBN contributed N2bn, Dangote Industries Ltd, N2bn, BUA Sugar Refinery N1bn, GTBank N1bn, UBA Plc, N1bn, First Bank N1bn, Zenith Bank N1bn, Access Bank N1bn and Amperion Power Distribution Ltd, N1bn.

Others include; Pacific Holding, N500m, Union Bank, Sterlin Bank, Standard Charted Bank, Stanbic IBTC, Citibank Nigeria Ltd, FCMB, Fidelity Bank, Ecobank, and Africa Steel Mills Nigeria LTD which all contributed N250m each.

While Multichoice Nigeria donated N200m, FSDH Merchant Bank, Rand Merchant Bank, Coronation Merchant Bank, Suntrust Bank and Providus Bank donated N100m. Other banks that donated N100m include Wema Bank, Unity Bank, Heritage Bank, Nova Bank, Polaris and Keystone Bank.

Other donors include; Globus Bank, Titan Trust Bank, Takagro Chemicals Ltd, and Adama Beverages Limited, who all donated N50m each.

Also, Ahmadu Mahmoud donated N20m, Ekeoma Eme Ekeoma donated N10m, Handy Capital Ltd donated N5m, ADG International Resources donated N2.5m and Prosharena Ltd donated N1m.

There were several other donations ranging from N500,000 to N100,000.

It would be recalled that the CBN Governor, Mr. Godwin Emefiele, had on March 26, 2020 announced the establishment of the committee as part of the apex bank initiatives to help government in raising more funds to curtail the spread of the pandemic.