Group, NSIA unveil fund for pre-COVID-19 era, targets initial $50m
Global Citizen and Nigeria Sovereign Investment Authority (NSIA) have sealed a pact to create Nigeria Solidarity Support Fund (NSSF) to tackle the impact of COVID-19 on Nigerians.
NSSF, according to the international advocacy organisation, is a fund created by Nigerians for the good of the country.At the launch of the fund yesterday in Lagos, Chairman, Global Citizen Nigeria, Babatunde Folawiyo, said with an initial target of $50 million, the NSSF hoped to raise funds from Nigerians multilateral organisations and philanthropists, among others.
He said the fund was created to support vulnerable groups, strengthen Nigeria’s healthcare system and re-skill the Nigerian youth for a post-COVID-19 era.
“We all have a part to play in improving the lives of our fellow Nigerians. Now is the time that we can make a difference; whether you are a corporate or an individual, there is a role for you. For this fund to be a success, we need the whole country to get behind us and donate. This fund has been created by Nigerians, for Nigerians for the betterment of our country,” Folawiyo said.
He maintained that the NSSF was subject to a three-tier governance system aimed at ensuring that all contributions to the fund were recognised, accounted for and effectively managed.
Managing Director and Chief Executive Officer of NSIA, Uche Orji, said: “We have an extremely experienced and highly regarded Board of Directors in place, who are actively involved in the day-to-day running of the trust. The team has worked tirelessly behind the scenes to ensure that all the necessary governance and procedures are in place for a transparent fund and to give all donors the peace of mind that their funds are going directly to the people that need it most. We are all very proud of what we have created, and hope that all Nigerians will support it.”
Vice Chairman, Global Citizen Nigeria, Aigboje Aig-Imoukhuede, added: “We are proud that as Nigerians we can rally to support the most vulnerable in our society, and we look forward to making a significant impact in combating the tragic effect of COVID-19.”
The fund, the group said, will initially run for 18 months with strong plans to sustain its existence to ensure that the overall objectives are met.
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