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CBN rallies wealthy individuals, companies to CACOVID Fund


The Central Bank of Nigeria (CBN) has called on 146 individual and companies who have investments in the country to support the fight against the novel Coronavirus (COVID-19) pandemic in Nigeria.

In a statement released yesterday and signed by the Director, Corporate Communications, CBN, Isaac Okorafor, the apex bank appealed to the individuals and companies to join the national fight against COVID-19 by providing whatever support they can to the Nigeria Private Sector Coalition Against COVID-19 (CACOVID) Relief Fund.

Prior to this plea, CACOVID, which is championed by CBN to raise funds to combat COVID-19 in the country, has hit about N21.588 billion.


According to a CBN update, the CACOVID Relief Fund, domiciled with the apex bank, the cash, which totalled N19.488 billion as at last Friday, rose to N21.588 billion following fresh donations from some individuals and organisations.

The amount excluded the N2.4 billion pledged by three individuals and organisations yet to be redeemed. They are Lafarge Plc and MTN Nigeria that pledged N1 billion each and John Coumantaros (Flour Mills Nigeria Plc), who pledged N400 million.
The initial list of 37 donors, which grew to 47 as at last Friday, was 50 as of Monday, excluding those yet to redeem their pledges.

Some of the donors on the latest list included Chief Mike Adenuga, Raj Gupta of African Steel Mills Nigeria Ltd., Modupe and Folorunsho Alakija of Famfa Oil Limited and the Nigeria Deposit Insurance Corporation (NDIC), all donating N1 billion each to the relief fund.
Okoroafor, while urging more Nigerians and corporate bodies to contribute to the fund, charged Nigerians to do their part in checking any further spread of the virus in Nigeria.

Amongst the individuals and companies, which the CBN invited to join the fight against COVID-19 is Carl Cruz of Unilever Nigeria Plc, Remco Bohre of Airfrance, Tony Okpanachi of Development Bank of Nigeria, and Noel Saade of Eko Hotels.


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