Coronavirus relief fund receives N1bn boost from NDIC

News Agency Of Nigeria 11:28 - 09 April 2020

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The Managing Director/Chief Executive Officer of the Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim. [tribuneonlineng]

The Board of the Nigeria Deposit Insurance Corporation (NDIC) has approved the immediate release of N1 billion Naira to the COVID-19 Relief Fund being put together to fight the Coronavirus pandemic in Nigeria.

Mr Sunday Oluyemi, Director of Communication and Public Affairs, posted on NDIC official twitter handle on Thursday.

Oluyemi said the board acknowledged that the corporation was not only consistent with its Corporate Social Responsibility, (CSR) but that the proceeds would be utilised in the provision of equipment and medical facilities in the country.

He recalled that the Bankers Committee led by the Central Bank of Nigeria (CBN) at its emergency tele-conference call meeting held on March 30 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,”he said.