Coronavirus Disease: NDIC Approves Release of N1bn To Relief Fund

MD/CEO NDIC, Umaru Ibrahim.

By Barnabas Esiet.

The Board of the Nigeria Deposit Insurance Corporation (NDIC) has approved the immediate release of the sum of N1 billion  to the COVID-19 Relief Fund set up by the Federal Government to fight the scourge of Corona Virus pandemic in Nigeria.

In a statement the Board of NDIC explained that the decision to release the money was consistent with its policy on Corporate Social Responsibility (CSR) noting that the fund will be used for procurement of equipment and urgently needed medical facilities throughout the country.

corona virus

According to the statement, this will include the procurement of testing kits, isolation and treatment centres, as well as the provision of Intensive Care Units (ICUs), and molecular testing labs wherever required.

Following a decision at a recent meeting of the Bankers’ committee to establish a special Relief Fund, the Central Bank of Nigeria (CBN) announced the opening of an account domiciled at the apex bank under the auspices of the Private Sector Coalition Against COVID-19.

corona virus patient receiving medical care

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 dreaded disease in Nigeria..

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