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Coronavirus: ‘N1bn for Lagos’, ‘N500m for FCT’ — UBA pledges N5bn support to African countries

Coronavirus: ‘N1bn for Lagos’, ‘N500m for FCT’ — UBA pledges N5bn support to African countries
March 26
20:13 2020
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The United Bank for Africa Plc (UBA) on Thursday announced that it will be donating N5 billion to help African countries fight coronavirus.

According to the bank, the donation would “provide significant and much-needed support to Nigeria and 19 other African countries, by supplying relief materials, critical care facilities, and financial support to Governments.”

The bank said the donations would be made through its non-profit arm, UBA Foundation.

A breakdown of the UBA support programme showed that N1 billion ($2.8 million) would go to Lagos, which has the highest number of patients; N500 million ($1.4 million) to the federal capital territory, Abuja; N1 billion ($2.8 million) to the remaining 35 states in Nigeria; N1.5 billion ($4.2 million) to UBA’s presence countries in Africa; N1 billion ($2.8 million) for medical centres with equipment and supplies; and free telemedicine call centre facility.

Commenting on gesture, Tony Elumelu, chairman, UBA group, said there is need for the private sector to join hands with the government in tackling the pandemic.

“This is a time when we must all play our part. This global pandemic must bring citizens, governments and business leaders together – and quickly,” Elumelu said.

“As we see a rapidly increasing number of cases of the coronavirus in Nigeria and Africa, the private sector has to work hand in hand with various Governments, in stemming the spread of the global pandemic.”

The Dangote Foundation had also pledged N200 million to support the federal government’s effort against the virus.

Former Vice-President Atiku Abubakar, whose son contracted the virus, also announced a N50 million relief fund to help in curtailing COVID-19 in Nigeria.

 

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Exchange Rates

March 25, 2019USDGBPEUR
INTERBANK306397354
LAGOS380478402
KANO375477498
PH380478498
ABUJA375476400
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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