Bankers’ Committee, CACOVID commit N100bn to procure equipment, gadgets for police in 2yrs

... plan concessionary loans to businesses affected by #ENDSARS ...N150bn for high impact youth development programme

Central Bank of Nigeria (CBN), the Bankers’ Committee and stakeholders from Private sector-led Coalition Against COVID-19 (CACOVID) have moved to calm the nerves of many Nigerians over insecurity as they have committed N100 billion to procure equipment and gadgets for the Nigerian Police Force over the next two years.

Also, CACOVID has committed to fully rehabilitate all 44 damaged and destroyed police stations nationwide in a bid to restore provision of security in affected locations.

Godwin Emefiele, governor of the CBN, disclosed this in Lagos on Wednesday while giving account of CACOVID in terms of the amount realised and spent.

As part of measures towards rebuilding confidence in the nation’s economy following the impact of the recent #ENDSARS protest, he said banks and financial institutions would be required to extend relief through concessionary loans to affected businesses and firms so they can rebuild and restock their stores and continue to conduct their business activities.

CACOVID has also committed to create a high impact youth development programme that will provide technical and vocational education to over 4 million Nigerian youths over the next five years.

Consequently, over N150 billion is expected to be deployed towards the settingup and implementation of the youth development programme, which will be available at select training centres across the country.

For the out-of-school graduates that possess certain entrepreneurial skills, CACOVID will be working with Bankers’ Committee to complete the creative centre at the National Arts Theatre in Lagos in four select areas – ICT and software design/development, fashion, music, and movies. The project is expected to cost the Bankers’ Committee over N40 billion.

Emefiele said details of all the stated support would be released in due course to Nigerians.

He noted that CACOVID realised N39.6 billion from over 200 well-meaning Nigerians and corporate organizations in support of the fight against COVID-19.

“In line with our promise to be open and transparent in the utilisation of the funds donated by our partners, CACOVID has today decided to provide the general public with full details relating to the procurement of goods and services along with the disbursement schedule of procured items. These details will be posted on our website in due course,” Emefiele said.

On the expenditure side, he said the CACOVID has far incurred expenditure in the sum of N43,272,562,831 on the acquisition of not only medical equipment and supplies but also food palliatives for vulnerable Nigerians.