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AfricaBusiness & Finance

NDIC donates N1bn to Nigeria Govt to combat Covid-19 pandemic

By Oluwaseun Sonde

The board of the Nigeria Deposit Insurance Corporation (NDIC) has donated the sum of One Billion naira (N1bn) to the Federal Government through its Covid-19 Relief Fund in the procurement of testing kits, isolation and treatment centers, as well as the provision of Intensive Care Units (ICUs), and molecular testing laboratories for the fight against the coronavirus pandemic in Nigeria.

In a Press Released by the Director of Communication and Public Affairs, Nigeria Deposit Insurance Corporation, Oluyemi Sunday  on Tuesday, (NDIC) approved the immediate release of the sum of N1 billion naira in a strive effort to support the Federal Government to contain the spread of the virus in the country. It would be recalled, that the Bankers Committee led by the Central Bank of Nigeria (CBN) at it’s emergency Tele Conference call meeting held on Monday, 30th March, 2020, announced that the committee and the private sector had set up an amount at the CBN under the auspices of the Private Sector Coalition Against COVID-19.

The fund receives contributions from individuals as well as corporate organizations 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 it’s 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 whenever required.

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