NSE Commits N100m to Support Fight against COVID-19

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Goddy Egene

The Nigerian Stock Exchange (NSE) has committed N100 million to support the fight against the COVID-19 pandemic in Nigeria. The NSE disclosed this yesterday in a statement, noting that N60 million out of this sum would be donated to the Capital Market Support Committee for COVID-19 (CMSCC), while the balance N40 million would be devoted to the “Masks for All Nigerians” campaign.

The CMSCC is a Securities and Exchange Commission (SEC) led committee, comprising the capital market community and set up to galvanise the capital market ecosystem to play an active role in curbing the spread of COVID-19 in Nigeria. On the other hand, “Masks for All Nigerians” campaign will see the NSE donate over 100,000 reusable face masks to states most affected by COVID-19.

Commenting on the initiative, the Chief Executive Officer, NSE, Mr. Oscar Onyema, said: “At the exchange, we recognise 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.”

“Through our media enlightenment engagement, we will raise awareness on the proper use of masks, continue to encourage adherence to the guidelines that have been provided by relevant agencies and emphasise that wearing of masks alone is not enough protective measure against COVID-19. We have also been deliberate with this intervention by patronising local manufacturers in our efforts to support indigenous businesses, who we have mandated to comply with the mask production specifications provided by the Standards Organisation of Nigeria (SON) and the National Agency for Food and Drug Administration and Control (NAFDAC),” Onyema added.

Also speaking, 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.”