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How Nigeria Realised N19.4b Relief Fund For COVID-19


Nigeria has realised N19.488b from donors towards the fight against coronavirus in the country, leaving a total of N3.400b yet to be redeemed.

The group had set a N120 billion target for banks and private sector contributors to help support the Federal Government in tackling the COVID-19 crisis.

The Central Bank of Nigeria (CBN)  and Alhaji Aliko Dangote of Dangote Industries both donating N2b each.

Alhaji Abdulsamad Rabiu of Bua Sugar Refinery, Segun Agbaje of Guaranty Trust Bank (GTB), Tony Elumelu of United Bank for Africa (UBA), Oba Otudeko of First Bank, Jim Ovia of Zenith Bank, Herbert Wigwe of Access bank, Femi Otedola of Amperim Power Distribution limited, Raj Gupta of African Steel Mills Nigeria Ltd and Modupe and Folorunso Alakija of Famfa Oil donated one billion naira each.

Group of donors in N500 million and N250 million categories are Pacific Holding Limited which gave N500 million, Union Bank Plc, Sterling Bank plc, Standard Chartered Bank Limited, Stanbic IBTC Bank, Citibank Nigeria Limited, First City Monument Bank, Fidelity Bank and Ecobank Plc which donated N250 million each.

Wema Bank plc, Unity Bank plc, Polaris Bank Plc, among others donated N100 million each.

The COVID-19 Relief Fund naira account was opened last week in the CBN with account number -1000014920 while the CBN TSA USD account number – 0017575300 was opened at the Citibank UK, the correspondent bank.

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Central Bank of Nigeria (CBN), Governor, Godwin Emefiele had said collections into the accounts will be allowed within two weeks, and that anyone can make contributions into the accounts, but only companies and individuals that contribute at least N1 billion will be in the Funding Committee.

CBN Director, Corporate Communications, Isaac Okorafor in a statement said the release of the donation list followed earlier pledge to provide a weekly update on the contributions to the Relief Fund.

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