Insecurity: Private Sector Raises Fresh N100bn To Support FG

The Coalition Against COVID-19 has disclosed plans to provide N100bn to the Federal Government to assist security agencies tackle the current spate of insecurity in the country.

The Chairman of the United Bank for Africa, Tony Elumelu disclosed this at a dinner organised for top executives of the bank, held during the weekend.

According to Elumelu, the task force is tasked with pooling resources across industries to provide technical and operational support while providing funding and building advocacy through aggressive awareness drives.

In addition to the efforts of the Federal Government, the UBA chairman said the coalition, during the wake of the coronavirus pandemic, provided and equipped medical facilities in the six geopolitical zones in Nigeria.

This, he noted, led to the creation of testing, isolation and treatment centres, and including the provision of Intensive Care Units and molecular testing labs.

Elumelu said that in view of the importance of security to national development, CACOVID was now using its platform to mobilise funds to equip security agencies.

He said, “Currently, we are using the CACOVID platform to engage the economy. We did a lot for the healthcare and other aspect of the economy during the period of Covid-19.

“We have just put together another N100bn under CACOVID to help support security agencies to address the issue of insecurity in the country. We believe that if they are well armed and equipped, it will help reduce the level of insecurity in the country.”

The Governor, Central Bank of Nigeria, Godwin Emefiele, who was in attendance revealed some of the measure that must be taken by the government to reduce the level of hunger and unemployment in the country.

Emefiele explained that investments in agriculture and related sectors, distribution storage systems, and necessary market infrastructure are critical to build a cost-effective, viable and sustainable food system in Africa.

With a labour force of over 440 million, which is about 30 per cent of Africa’s total population of 1.3 billion people, experts have said that hunger and lack of jobs should not be serious issues in the continent.