May 8, 2020

NSE unveils N100m support for fight against COVID-19



Nigerian Stock Exchange

The Nigerian Stock Exchange (NSE) has committed N100 million to support the fight against the Coronavirus (COVID-19) pandemic in Nigeria.

The NSE said in a statement that N60 million would be donated to the Capital Market Support Committee for COVID-19 (CMSCC), while the balance of N40 million would be devoted to the  “Masks For All Nigerians”  campaign.

READ ALSO:COVID-19: Ayade orders five truckloads of almajiris back to destination(

The CMSCC is a Securities and Exchange Commission (SEC) led committee, comprised of the capital market community and set up to galvanize the capital market ecosystem to play an active role in curbing the spread of COVID-19 in Nigeria. In addition to its efforts as part of CMSCC, the  “Masks For All Nigerians”  campaign will see the NSE donate over 100,000 reusable face masks to states most affected by COVID-19.

In addition, the Exchange will run  an  enlightenment program on the safe use of masks on traditional and social media.
The initiative, according to the Exchange, comes on the back of a growing call for the use of masks as an effective measure in slowing the spread of COVID-19.

Speaking on the initiative, Mr. Oscar N. Onyema, Chief Executive Officer, NSE, said, “At the Exchange, we recognize the health and economic impact of the COVID-19 pandemic on Nigerians and the need to adopt more proactive steps in stemming the tide. In line with our tradition of supporting the communities where we operate, we have launched the  Masks For All Nigerians  campaign to ensure that protective masks get into the hands of citizens in the more vulnerable places.

On his part, the President of the National Council, NSE, Otunba Abimbola Ogunbanjo, said, “We are facing an unprecedented existential threat that requires us to adopt a more collaborative approach in fighting this pandemic especially where social interaction is inevitable. As we work to encourage the use of Personal Protective Equipment (PPE) through adequate production and distribution of reusable face masks, we call on the capital market ecosystem to support this initiative by wearing a mask when in public settings and donating masks especially to those at the bottom of the pyramid so as to protect lives leading to the reactivation of our economy.”