NDIC donates N1bn to COVID-19 relief fund

Nigeria Deposit Insurance Corporation (NDIC) says its board has approved the immediate release of N1 billion to the COVID-19 Relief Fund being put together to fight against the COVID-19 pandemic in Nigeria.

It would be recalled, that the Bankers Committee led by the Central Bank of Nigeria (CBN) at its emergency teleconference call meeting held March 30, 2020, announced that the Committee and the private sector had set up an account at the CBN under the auspices of the Private Sector Coalition Against COVID-19.

The Fund receives contributions from individuals as well as corporate organisations to complement the efforts of the Federal Government as it strives to contain the spread of the pandemic in Nigeria.

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In approving NDIC’s contribution to the Fund, a statement from NDIC’s director of communications, and public affairs Sunday Oluyemi explained that the board acknowledged that it was not only consistent with its policy on Corporate Social Responsibility (CSR); it also noted that the proceeds will be utilised in the provision of equipment and urgently needed medical facilities throughout the nation.

This will include the procurement of testing kits, isolation and treatment centres, as well as the provision of Intensive Care Units (ICUs), and molecular testing labs wherever required.




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