COVID-19 Palliative: Capital Market Support Committee To Raise N1bn

Ag.DG SEC, Mary Uduk.

As part of efforts to mitigate the impact of Corona Virus disease, COVID-19, on the Nigerian economy, the capital market community has launched an initiative to raise N1bn within the shortest possible time.

Acting Director General of the Securities and Exchange Commission, SEC, Mary Uduk who disclosed this at a forum in Abuja, said the fund is expected to assist in providing critical medical supplies and cushioning the effects of the pandemic on poor and venerable Nigerians.

In her words, “The Committee has commenced work and has set a target to raise the sum of One Billion Naira (N1,000,000,000) from market participants and stakeholders within the shortest possible time, the money will be used to provide palliatives to the impoverished and medical equipment to designated hospitals and isolation centres.”

While acknowledging on-going efforts at providing critical medical supplies and palliatives to Nigerians, Uduk said the Nigerian capital market community recognises that more still needs to be done, especially for the vulnerable and less privileged in the society.

“To this end, the Nigerian capital market community, led by the Securities and Exchange Commission has inaugurated a market-wide Committee, the Capital Market Support Committee on Covid-19, to coordinate effort in mitigating the medical and economic impact of the pandemic on the vulnerable and the less privileged.” She noted.

” This is a challenging time for everyone and the capital market community cannot afford to stay on the side-lines in the fight against Covid-19.” Uduk added.

She urged Nigerians to continue to take all necessary safety precautions and abide by directives issued by the Federal Government and its relevant agencies.

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