The Nigerian Stock Exchange (NSE) says it has committed N100 million to support the fight against the Coronavirus (COVID-19) pandemic in Nigeria.
The sum of N60 million out of this sum will be donated to the Capital Market Support Committee for COVID-19 (CMSCC), while the balance of N40 million will 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 galvanise 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. The Exchange will also run an enlightenment program on the safe use of masks on traditional and social media.
This initiative comes on the back of a growing call for the use of masks as an effective measure in slowing the spread of COVID-19. With the increasing body of evidence that the use of masks by the populace could slow the spread of coronavirus, several countries, including the United States of America, Austria, Slovakia, Czech Republic, Canada, and Nigeria to name a few, have adopted this control measure.
Speaking on the initiative, the chief executive officer of 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.”
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 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.”
The Exchange has displayed remarkable resilience during this pandemic and continues to support the fight against COVID-19 in line with the strategic pillars of its Corporate Sustainability and Responsibility (CSR) strategy, community, workplace, marketplace and environment.