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CACOVID fund at Central Bank of Nigeria rises to N27.1 billion

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The Nigeria Private Sector Coalition Against COVID-19 (CACOVID) Relief Fund, initiated by the Central Bank of Nigeria (CBN), has risen to over N27.1billion, even as the Coalition said it has already expended a whopping N23billion on the purchase of food items. a total of to the

In a statement yesterday, and signed by the Director, Corporate Communications, CBN, Isaac Okorafor, the apex bank published a list of 123 individuals and organisations that contributed the N27.1billion as at Thursday, April 23.

However, the financial services regulator urged more well-meaning individuals and organisations to consider contributing to the CACOVID Relief Fund in national solidarity, for adequate provision of not only medical equipment and materials, but also to render urgently needed palliatives to the poor and vulnerable segments of the Nigerian society.

The CBN equally expressed the Coalition’s gratitude to all the institutions and individuals that open-handedly donated to the fund.

According to the update, the CACOVID Relief Fund, domiciled with the apex bank, the cash, which totalled N25billion on the last check, hit N27.1billion following fresh donations from some individuals and organisations.

Meanwhile, the Coalition noted that the purchase of food items alone has gulped N23billion of the total sum donated, as it targets to reach out to 10 million vulnerable Nigerians.

According to the group, the distribution of the food items will be done over the next few days to reach at least 1.67 million households in all 774 Local Government Areas in the country.
Some of the donors on the latest list who donated N100million each include FBN Merchant Bank, Wema Bank, Unity Bank, Heritage Bank, Keystone Bank, Polaris Bank, KC Gamming Networks Limited, Ports and Terminal Multiserve Ltd, and Development Bank of Nigeria (DBN).

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