Thursday,
March 26, 2020 /10:56 PM / by CBN / Header Image Credit: Bloomberg
Ladies
and Gentlemen, Good afternoon. As a follow up to the series of engagements and
releases from the Central Bank of Nigeria in response to the impact of the
COVID-19 on the Global and Nigeria economy, the CBN has, in the last few days
began engaging Nigeria compatriot stakeholders in the private sector on how to
provide support to the Federal Government in procuring equipment and materials
to combat the menace of this unfortunate pandemic in Nigeria.
As
you are aware, a total of 499,125 persons have been infected globally as at
today,81,285
in China, 74,386 from Italy, 73,386 from the USA and 56,197 persons from Spain.
In
Africa, South Africa has 927 infected persons. Although the number in Nigeria
so far
stands at 51, we are concerned that this number may rise exponentially in the
next Two weeks.
In terms of fatalities, China has had deaths of 3,287,
Italy 7,503, USA 1,062, Spain 4,145 and so far 1 in Nigeria.
Ladies and Gentleman, Nigeria must prepare for the
worst in responding.
The Central Bank of Nigeria, on behalf of the Bankers' Committee and in partnership with the private sector led by Aliko Dangote
Foundation and Access Bank have come together to form the Nigerian Private Sector Coalition
Against COVID-19. This Coalition was created out of the urgent need to combat
the unfolding COVID-19 crisis in Nigeria. The rate at which the virus is
spreading is unprecedented and it appears we are fighting our most lethal
adversary to date.
So far, the Federal Government has made giant strides
in the fight but it is clear that the private sector needs to step in and
support efforts already being made. The objectives of the Coalition are to:
- Mobilize private sector thought
leadership
- Mobilize private sector resources
- Increase general public awareness, education and
buy-in
- Provide direct support to private and public
healthcare's ability to respond to the crisis
- Support Government effort
In doing this, the Coalition has set up four major
committees comprising of:
1. Steering Committee to provide leadership and steer
the coalition and committees in procuring all needed funding, equipment and
materials for the battle against this pandemic.
The
steering committee will be chaired by the secretary to the Government of the Federation,
Mr. Boss Mustapha who currently chairs the Federal Government Committee on
COVID-19. Other members of the Committee will announced later.
2.
Funding Committee: this committee will be responsible for the initial funding
of the effort. Membership comprise, the CBN Governor, Aliko Dangote, Herbert
Wigwe, Jim Ovia, Tony Elumelu, Segun Agbaje, Abdulsamad Rabiu and Femi Otedola.
Each
member of the committee is to ensure that their institution contribute at least
N1b to this effort. More members are allowed as long as they are willing to
contribute at least N1b.
3.
Operational Committee: responsible for project management, logistics,
communication and advocacy. This comprise CBN Governor, Aliko Dangote
Foundation, Access Bank, Zenith Bank, GT Bank, Stanbic IBTC, Ecobank, Fidelity
Bank, Unity Bank, Nigerian Breweries Plc.
4.
Technical Committee: this committee is responsible for gathering data about the equipment
and materials needed nationwide. They will also be responsible for intellectual
leadership around testing issues, treatment protocols, isolation centers, etc.
Membership Comprised of NCDC, WHO, Bill and Melinda Gates Foundation, Federal
Ministry of Health and select members of the operational and
funding
committee.
We
will be working with reputable institutions and consultants including the Lagos
State Commisioner of Health, Dr. Akin Abayomi, Dr Christian Happi, Dr. Phillip
Onyebujo.
Information
gathered so far has revealed that to procure all needed equipment, material,
and all infrastructure needed to fight this pandemic, over N120b need to be
raised. The Bankers Committee and these important stakeholders will be required
to step up to support this endeavor. We are already engaging other important
stakeholders in Nigeria and abroad, such as the NNPC and players in Oil
industry.
An
account will be set up at the Central Bank of Nigeria to receive both Naira and
foreign Currency from our donors.
The
Technical Committee will be providing Information about the venue' where equipment
and materials will be received just for those who wish to donate materials and
equipment.
The have made commitment to provide funding, equipment
and material as well.
At the end of the process, we shall use have a
reputable form of Accountants to render full account of how the funds were
utilized as well as account for the materials donated.
The need for all Nigerians to play a role in this
fight cannot be understated as we are quite literally in the fight of our lives. | must
highlight the fact that this is not just about bringing money. Your time, your
services, your products will all be helpful.
The committee has already begun work and we will keep
you updated of our progress.
Godwin, I. Emefiele
CBN, Governor
March 26, 2020

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