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

It would be recalled, that the Bankers Committee led by the Central Bank of Nigeria (CBN) at its emergency Tele Conference call meeting held on Monday, 30th March, 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.

In approving NDIC’s contribution to the Fund, the Board of the Corporation acknowledged that it was not only consistent with its policy on Corporate Social Responsibility (CSR); it also noted that the proceeds will be utilized in the provision of equipment and urgently needed medical facilities throughout the nation. This will include the procurement of testing kits, isolation and treatment centers, as well as the provision of Intensive Care Units (ICUs), and molecular testing labs wherever required.

Sunday Oluyemi
Director, Communication and Public Affairs Department
Tuesday, 7th April, 2020