Nigeria: NSE decides to donate N100 million for coronavirus fight

The Nigerian Stock Exchange (NSE) has decided to donate N100 million to support the fight against the coronavirus (COVID-19) pandemic in Nigeria, according to a news report by Vanguard.

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.

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 coronavirus 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 the coronavirus.

According to CMSCC, the initiative came on the back of a growing call for the use of masks as an effective measure in slowing the spread of the coronavirus.

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."