The Federal Government has received the sum of N100 billion donations from the Private Sector Coalition for use in the ongoing fight against insecurity in the country.
The Coalition which is co-chaired by business mogul, Alhaji Aliko Dangote and the Central Bank of Nigeria (CBN) Governor, Mr Godwin Emefiele made the donation to the Federal Government to boost the security agencies’ capacity to deal with the issues of insecurity confronting the country.
This was disclosed by the Group Chairman, United Bank for Africa (UBA), Mr Tony Elumelu at the Chairman’s Forum held in Abuja, over the weekend.
Addressing his guests, among whom was Mr Emefiele, Mr Elumelu said, “We have just put N100 billion together. Private sector again, under this coalition to help fight insecurity and support our security agencies’ capacity to be able to deal with the issues we are having in the country on security”.
The gathering which attracted Managing Directors of all 20 UBA branches in Africa, USA, UK, UAE and France, Mr. Elumelu explained was a veritable opportunity for the bank’s management to brainstorm, unwind and chat a way forward for the financial institution.
He used the opportunity to explain the various roles the private sector has been playing in its efforts to enhance the inclusive growth of Nigeria’s economy.
Mr Elumelu pointed out that it was during the outbreak of the COVID-19 pandemic that some Nigerians were able to know what the private sector could do for the country, under the co-chairmanship of the CBN Governor.
“Just in case some don’t know, we set up isolation centres across the country. We spent less than N60 billion. You go to the airport, you do your COVID-19 test and other activities around it.
“I think the most important thing was the move we made to open up the Nigerian economy once more. We made a strong move. We have no option because the economy would crash if we didn’t do so. And there was so much pressure on the government…
Then, post (not that COVID-19 is completely over) we spent so much money for people to vaccinate; even supporting government agencies with money to enable them to do so many things to keep Nigeria healthy and safe. I like where acts of patriotism are discussed because it gets me happy.
“But the most important thing, I am sure my members would not like me to talk about it. We have just put N100 billion together, private sector again, under this coalition to help fight insecurity; to support our security agencies’ capacity to be able to deal with the issues we are having in the country on security. Because we believe that if they are well-armed and protected, it will go a long way in helping to assure security in Nigeria.
In his comments, the CBN Governor commended Mr Elumelu’s initiative of organising the management retreat, where top officials of the UBA meet bi-annually to discuss the progress of the bank and have social interactions.
He seized the opportunity to enumerate the various developmental interventions of the apex bank in the country and explain why the CBN would continue to roll out people and development-oriented policies capable of impacting output positively from its Monetary Policy Committee meetings.
The Central Bank of Nigeria Governor called on the UBA to leverage its knowledge of the Nigerian economy to give loans to households and other businesses that would ultimately lead to broad base and inclusive economic growth in Nigeria.
Mr Emefiele said over the next two years, credit to the agric sector will hit 10 percent, stressing that hunger and lack of job opportunities should not be a serious issue in Nigeria with the abundant human and natural resources that abound in the country.
The Private Sector Coalition is tasked with pulling resources across industries to provide technical and operational support while providing funding and building advocacy through aggressive awareness drives.
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