After the COVID-19 pandemic spread to Nigeria, the private sector Coalition Against COVID-19 (CACOVID) rose to the occasion.
Led by the CBN governor, Godwin Emefiele, this coalition has been able to pool together billions of naira to be used to support the World Health Organization (WHO), the Federal Government, and the Nigerian Centre for Disease Control in the fight against the pandemic. The funds are also expected to help alleviate some of the economic hardships resulting from the pandemic.
As at the time of writing this report, information from CACOVID states that the targeted sum of N120 billion has not been achieved. Only N27.1 billion has been raised from over one hundred contributors.
The economy has been greatly affected with the battle against COVID-19 but with the dedication and donation of each member of our coalition, the country has seen the emergence of isolation centers and procurement of essential equipment.#StaylingAliveTogether #StaySafe #Cacovid pic.twitter.com/718TvxBdWP
— Private Sector Coalition Against COVID-19 (@cacovidng) May 8, 2020
Meanwhile, the CBN Governor has assured that every contribution will be duly accounted for.
But then again, there is the question of what exactly CACOVID has been up to in the last few weeks, with all the monies received so far. This is the question Nairametrics set out to answer here.
In a Tuesday evening Instagram live session with popular singer Waje, the Managing Director and CEO of the Aliko Dangote Foundation, Zouera Youssoufou, (who represents Africa’s richest man in CACOVID), had a lot to say about their activities in the last few weeks. According to her, a lot of their activities are executed with ease because of the presence of the partners all over the country. These partners help to handle the logistics in those locations.
And just like the CBN governor had assured, Youssoufou stated that “all of our accounts are going to be audited by KPMG and those accounts will be made public.”
Now, continue reading to see a more comprehensive breakdown of what CACOVID has been up to with the N27 billion raised so far.
Food relief palliatives
Nairametrics had reported that CACOVID set aside N23 billion to be used for the purchase of food relief materials for 1.67 million households (10 million vulnerable Nigerians).
The distribution commenced last week, with the distribution of 5000 loaves of bread in three communities in Lagos state.
Supplying the needy on Day 1 of the @cacovidng feeding programme: In 3 distribution centres – Tinubu Square, Oniru and Muri Okunola Park. The private-sector platform led by Mr Godwin Emefiele, (governor of CBN) will be sharing more food items for 10 million further Nigerians 🙏🏾 pic.twitter.com/Y5lRj0KgUG
— Femi Ote$ (@realFemiOtedola) May 5, 2020
According to a report from News Agency of Nigeria, the plan is to distribute a total of 70, 000 loaves of bread in Lagos state, giving out 5000 each day for 14 days.
Youssoufou also explains that there are ongoing arrangement to get baskets of food items to the most vulnerable Nigerians in all 774 local governments, with each basket containing staple foods like rice, garri and other essentials like salt, and pasta. These items, she said, are purchased from the manufacturers to cut down costs.
As the number of confirmed cases in the country continues to rise, the CACOVID has executed plans to increase the number of isolation facilities available to be used by the NCDC.
According to video clips available on the CACOVID website, the first phase of this is the completion of isolation centres in 6 states including the FCT, while the second phase is the creation and equipping of isolation centres in the remaining 30 states of the nations.
For the first phase, the construction of the isolation centre at Yaba in Lagos state is still ongoing, with a budget of N1 billion. A 66-bed capacity Isolation Centre fully refurbished and equipped by CACOVID, at the cost of N200 million, has been handed over to the Kano State Government.
Youssoufou explains that in all of these transactions, no cash is given but the CACOVID purchased the ventilators, PPEs, testing kits, and delivered and installed the equipment before handing over to the state government or the NCDC.
The Kwara Isolation center at Sobi Specialist hospital, Ilorin will support 100 patients at a time and will support the state government to successfully fight the virus in the state. CACOVID remains committed in the bid to contain the pandemic and revamp the medical industry. pic.twitter.com/ryMeBEZJau
— Private Sector Coalition Against COVID-19 (@cacovidng) May 9, 2020
The specialist hospital at Sobi, Ilorin in Kwara state has also been upgraded to a 100-bed facility and handed over to the state government. Similarly, the Rivers State Government received a fully equipped isolation centre in Port Harcourt, while Enugu State received some beds and equipment to boost its isolation facility.
Also ,CACOVID partnered with ThisDay and Arise Media group and others to transform the ThisDay Dome in Abuja into a 360-bed isolation and treatment centre.
Our resolve to eradicate coronavirus from Nigeria is getting stronger by the Day. CACOVID just transformed the THISDAY Dome in Abuja into an isolation centre. Together, we can beat this!#StayingAliveTogether #Cacovid #WashyourHands #StaySafe pic.twitter.com/vyN4vUQRpu
— Private Sector Coalition Against COVID-19 (@cacovidng) May 8, 2020
The CACOVID is also funding part of the Surveillance Outbreak Response Management and Analysis System (SORMAS) and providing for logistics cost of ambulances and movement of patients.
The exact amount dedicated to this has not been revealed so far. However, it is expected to be given at the end of the CACOVID’s activities.
Launch of COVID-19 screening tool
To further assist the testing process, the group launched a screening tool which administers a 5-stage questionnaire for users to determine symptoms they might be experiencing, pre-existing health conditions, recent travel history, and exposure to confirmed cases or risk zones like healthcare facilities.
At the end of the screening, a recommendation is given either asking the user to isolate and maintain proper hygiene, or to contact the nearest response centre to his given location.
Purchase of testing kit
The NCDC is still below the expected number of daily testing expected to be conducted, but cannot scale up without the availability of more testing units. To this end, CACOVID has ordered additional 250,000 molecular testing kits, after the first 400,000 ordered which is expected to ramp up testing across the country, and help the health agency extend its testing to include more asymptomatic patients.
Explaining this process during the live session, Youssoufou said “we don’t write a cheque to the government and we don’t give the money to the NCDC. We buy the reagents, we buy the supplies and then we give them to the NCDC to distribute to the laboratories so that more people can be tested”.
With our procured test kits, we aim to keep track of the pandemic’s progression with early testing. This will give us enough time to strategize on how to contain the spread as we fight to beat COVID-19#StaylingAliveTogether #StaySafe #Cacovid #StayHome pic.twitter.com/4H85xKaRdY
— Private Sector Coalition Against COVID-19 (@cacovidng) May 8, 2020
Advocacy and Public enlightenment
The end of COVID-19 in Nigeria can only become visible when Nigerians get more enlightened and fully adhere to the provided guidelines. CACOVID tries to quicken this process through its advocacy and enlightenment efforts across several media.
They have enlisted the help of CEOs, billionaires, and even celebrities to speak to Nigerians in the language they understand and get them to accept that this pandemic is not a joke.
Deap Capital Management & Trust Plc reacts to ‘rumoured’ AMCON takeover
AMCON had dragged the company before a Court in a bid to recover the debt.
Deap Capital Management & Trust Plc has reacted to media reports about the supposed takeover of its assets by the Asset Management Company of Nigeria, AMCON.
In a statement that was signed by the Company Secretary, Yetunde Fashesin-Sousa, Deap Capital admitted that it is indebted to AMCON to the tune of N1.6 billion. It was also confirmed that AMCON owns a 20% equity stake in the fund management firm.
Note that the indebtedness arose after AMCON took over ownership of certain banks. Apparently, these are banks that Deap Capital originally owed. However, following the transfer of the unnamed banks’ assets to AMCON, the debts were also transferred alongside.
Meanwhile, AMCON had dragged the company before the Federal High Court in Lagos in a bid to recover the debt. A ruling on the case, which was delivered on January 28 by the Hon Justice John Terhemba Tsoho, was in AMCON’s favour.
Following the ruling, AMCON began the process of recovering the debt from Deap Capital Management & Trust Plc. The company said it has been cooperating in this regard by working towards repaying the debt.
The company also clarified that the assets that were taken over by AMCON belonged to its former directors whose names were not mentioned. Nairametrics could not verify if these directors are among those who were recently reinstated by the Securities and Exchange Commission, SEC. But we do know that AMCON had obtained a court order to attach the ‘former directors’ assets’ in its attempt to recover the N1.6 billion debt.
In the meantime, Deap Capital Management & Trust Plc said it is committed to resolving its operational challenges, including the recovery of its operational license and profitability issues. The company’s latest earnings report (for its Q1 period ended December 31st, 2019) showed a total income of N1 billion. There was also a N6.3 million loss for the period under review.
Deap Capital’s stock opened today’s trading session on the Nigerian Stock Exchange with a share price of N0.30. Year to date, the stock has declined by some -18%.
How to get creative sector loan from the CBN, Bankers Committee
The bank will then discuss, analyze your request and if successful will disburse the funds.
The Central Bank of Nigeria (CBN), in collaboration with the Bankers’ Committee, has outlined how to get the creative sector loans.
Both parties developed a Creative Industry Financing Initiative (CIFI) as part of efforts to boost job creation in Nigeria, particularly among youths in the country. The initiative has four pillars which include Fashion, Information Technology, Movie and Music.
It would be recalled that last year, the CBN in conjunction with the Bankers’ Committee unveiled the Creative Industry Financing Initiative (CIFI), which was to enable businesses to obtain loans up to the tune of N500 million.
Interested applicants in the creative industry are advised to submit their applications to their banks for approval and subsequent disbursement.
How to benefit from the Creative Industry Financing Initiative (CIFI): The categories of businesses to benefit from this include Fashion, Information Technology, Movie Production, Movie Distribution, Music and Software Engineering Student Loan.
Part of the steps in applying for the loan is to prepare your business plan or statement on how much you want for your business.
You can get a loan of up to:
- N3 million for a Software Engineering Student
- N30 million for a Movie Production business
- N500 million for a Movie Distribution business
- Cover your rental/service fees for Fashion and Information Technology businesses
- Cover your training fees, equipment fees and rental/service fees for Music business
After preparation of the business plan stating how much is needed for the business, applicants are advised to go to any bank of their choice to apply for the loan.
The bank will then discuss, analyze your request and if successful will disburse the funds. It must be noted that the maximum interest rate of 9% per annum (all charges inclusive) is applicable to all loans.
The period for the repayment of the loan in the different categories are:
- For Software Engineering Student Loan, it is a maximum of 3 years
- For Movie Production and Distribution, it is a maximum of 10 years
- For Fashion, Information Technology (IT) and Music, it is a maximum of 10 years.
For more information, you can visit www.cbn.gov.ng
COVID-19 Update in Nigeria
On the 12th of July 2020, 571 new confirmed cases and 16 deaths were recorded in Nigeria.
The spread of novel Corona Virus Disease (COVID-19) in Nigeria continues to record significant increase as the latest statistics provided by the Nigeria Centre for Disease Control reveal Nigeria now has 32,558 confirmed cases.
On the 12th of July 2020, 571 new confirmed cases and 16 deaths were recorded in Nigeria, having carried out a total daily test of 2,973 samples across the country.
To date, 32,558 cases have been confirmed, 13,447 cases have been discharged and 740 deaths have been recorded in 36 states and the Federal Capital Territory. A total of 181,248 tests have been carried out as of July 12th, 2020 compared to 178,265 tests a day earlier.
COVID-19 Case Updates- 12th July 2020,
- Total Number of Cases – 32,558
- Total Number Discharged – 13,447
- Total Deaths – 740
- Total Tests Carried out – 1781,248
According to the NCDC, the 571 new cases were reported from 20 states- Lagos (152), Ebonyi (108), Edo (53), Ondo (46), FCT (38), Oyo (20), Kwara (19), Plateau (17), Osun (14), Bayelsa (14), Ekiti (14), Katsina (14), Akwa Ibom (11), Kaduna (11), Rivers (11), Niger (10), Ogun (7), Kano (6), Cross River (4), Bauchi (2).
Meanwhile, the latest numbers bring Lagos state total confirmed cases to 12,427, followed by Abuja (2,576), Edo (1,731). Oyo (1,726), RIvers (1,368), Delta (1,359), Kano (1,309), Ogun (1,087), Kaduna (989), Ondo (716), Katsina (669), Ebonyi (616), Borno (586), Plateau (533), Gombe (530), Bauchi (521), Enugu (476), Abia (405), Imo (386), Kwara (330).
Jigawa state has recorded 321 cases, Bayelsa (313), Osun (245), Nasarawa (244), Sokoto (153), Akwa Ibom and Niger (135), Benue (121), Adamawa (110), Anambra (93), Kebbi (86), Zamfara (76), Ekiti (63), Yobe (62), Taraba (27), Cross River (9) while Kogi state has recorded 5 cases only.
Lock Down and Curfew
In a move to combat the spread of the pandemic disease, President Muhammadu Buhari directed the cessation of all movements in Lagos and the FCT for an initial period of 14 days, which took effect from 11 pm on Monday, 30th March 2020.
The movement restriction, which was extended by another two-weeks period, has been partially put on hold with some businesses commencing operations from May 4. On April 27th, 2020, Nigeria’s President, Muhammadu Buhari declared an overnight curfew from 8 pm to 6 am across the country, as part of new measures to contain the spread of the COVID-19. This comes along with the phased and gradual easing of lockdown measures in FCT, Lagos, and Ogun States, which took effect from Saturday, 2nd May 2020, at 9 am.
On Monday, 29th June 2020 the federal government extended the second phase of the eased lockdown by 4 weeks and approved interstate movement outside curfew hours with effect from July 1, 2020.
|Date||Confirmed case||New cases||Total deaths||New deaths||Total recovery||Active cases||Critical cases|
|July 12, 2020||32558||571||740||16||13447||18371||7|
|July 11, 2020||31987||664||724||15||13103||18160||7|
|July 10, 2020||31323||575||709||20||12795||17819||7|
|July 9, 2020||30748||499||689||5||12546||17513||7|
|July 8, 2020||30249||460||684||15||12373||17192||7|
|July 7, 2020||29789||503||669||15||12108||17012||7|
|July 6, 2020||29286||575||654||9||11828||16804||7|
|July 5, 2020||28711||544||645||11||11665||16401||7|
|July 4, 2020||28167||603||634||6||11462||16071||7|
|July 3, 2020||27564||454||628||12||11069||15867||7|
|July 2, 2020||27110||626||616||13||10801||15693||7|
|July 1, 2020||26484||790||603||13||10152||15729||7|
|June 30, 2020||25694||561||590||17||9746||15358||7|
|June 29, 2020||25133||566||573||8||9402||15158||7|
|June 28, 2020||24867||490||565||7||9007||14995||7|
|June 27, 2020||24077||779||558||4||8625||14894||7|
|June 26, 2020||23298||684||554||5||8253||14491||7|
|June 25, 2020||22614||594||549||7||7822||14243||7|
|June 24, 2020||22020||649||542||9||7613||13865||7|
|June 23, 2020||21371||452||533||8||7338||13500||7|
|June 22, 2020||20919||675||525||7||7109||13285||7|
|June 21, 2020||20242||436||518||12||6879||12847||7|
|June 20, 2020||19808||661||506||19||6718||12584||7|
|June 19, 2020||19147||667||487||12||6581||12079||7|
|June 18, 2020||18480||745||475||6||6307||11698||7|
|June 17, 2020||17735||587||469||14||5967||11299||7|
|June 16, 2020||17148||490||455||31||5623||11070||7|
|June 15, 2020||16658||573||424||4||5349||10885||7|
|June 14, 2020||16085||403||420||13||5220||10445||7|
|June 13, 2020||15682||501||407||8||5101||10174||7|
|June 12, 2020||15181||627||399||12||4891||9891||7|
|June 11, 2020||14554||681||387||5||4494||9673||7|
|June 10, 2020||13873||409||382||17||4351||9140||7|
|June 9, 2020||13464||663||365||4||4206||8893||7|
|June 8, 2020||12801||315||361||7||4040||8400||7|
|June 7, 2020||12486||260||354||12||3959||8173||7|
|June 6, 2020||12233||389||342||9||3826||8065||7|
|June 5, 2020||11844||328||333||10||3696||7815||7|
|June 4, 2020||11516||350||323||8||3535||7646||7|
|June 3, 2020||11166||348||315||1||3329||7522||7|
|June 2, 2020||10819||241||314||15||3239||7266||7|
|June 1, 2020||10578||416||299||12||3122||7157||9|
|May 31, 2020||10162||307||287||14||3007||6868||7|
|May 30, 2020||9855||553||273||12||2856||6726||7|
|May 29, 2020||9302||387||261||2||2697||6344||7|
|May 28, 2020||8915||182||259||5||2592||6064||7|
|May 27, 2020||8733||389||254||5||2501||5978||7|
|May 26, 2020||8344||276||249||16||2385||5710||7|
|May 25, 2020||8068||229||233||7||2311||5524||7|
|May 24, 2020||7839||313||226||5||2263||5360||7|
|May 23, 2020||7526||265||221||0||2174||5131||7|
|May 22, 2020||7261||245||221||10||2007||5033||7|
|May 21, 2020||7016||339||211||11||1907||4898||7|
|May 20, 2020||6677||284||200||8||1840||4637||7|
|May 19, 2020||6401||226||192||1||1734||4475||7|
|May 18, 2020||6175||216||191||9||1644||4340||7|
|May 17, 2020||5959||388||182||6||1594||4183||7|
|May 16, 2020||5621||176||176||5||1472||3973||7|
|May 15, 2020||5445||288||171||3||1320||3954||4|
|May 14, 2020||5162||193||168||3||1180||3815||4|
|May 13, 2020||4971||184||164||6||1070||3737||4|
|May 12, 2020||4787||146||158||6||959||3670||4|
|May 11, 2020||4641||242||152||10||902||3589||4|
|May 10, 2020||4399||248||142||17||778||3479||4|
|May 9, 2020||4151||239||127||11||745||3278||4|
|May 8, 2020||3912||386||118||10||679||3115||4|
|May 7, 2020||3526||381||108||4||601||2818||4|
|May 6, 2020||3145||195||104||5||534||2507||1|
|May 5, 2020||2950||148||99||5||481||2370||4|
|May 4, 2020||2802||245||94||6||417||2291||2|
|May 3, 2020||2558||170||88||2||400||2070||2|
|May 2, 2020||2388||220||86||17||351||1952||2|
|May 1, 2020||2170||238||69||10||351||1751||2|
|April 30, 2020||1932||204||59||7||317||1556||2|
|April 29, 2020||1728||196||52||7||307||1369||2|
|April 28, 2020||1532||195||45||4||255||1232||2|
|April 27, 2020||1337||64||41||0||255||994||2|
|April 26, 2020||1273||91||41||5||239||994||2|
|April 25, 2020||1182||87||36||3||222||925||2|
|April 24, 2020||1095||114||33||1||208||855||2|
|April 23, 2020||981||108||32||3||197||753||2|
|April 22, 2020||873||91||29||3||197||648||2|
|April 21, 2020||782||117||26||3||197||560||2|
|April 20, 2020||665||38||23||1||188||466||2|
|April 19, 2020||627||86||22||2||170||436||2|
|April 18, 2020||541||48||20||2||166||356||2|
|April 17, 2020||493||51||18||4||159||317||2|
|April 16, 2020||442||35||13||1||152||277||2|
|April 15, 2020||407||34||12||1||128||267||2|
|April 14, 2020||373||30||11||1||99||263||2|
|April 13, 2020||343||20||10||0||91||242||2|
|April 12, 2020||323||5||10||0||85||228||2|
|April 11, 2020||318||13||10||3||70||238||2|
|April 10, 2020||305||17||7||0||58||240||2|
|April 9, 2020||288||14||7||1||51||230||2|
|April 8, 2020||274||22||6||0||44||226||2|
|April 7, 2020||254||16||6||1||44||204||2|
|April 6, 2020||238||6||5||0||35||198||2|
|April 5, 2020||232||18||5||1||33||194||2|
|April 4, 2020||214||5||4||0||25||185||0|
|April 3, 2020||209||25||4||2||25||180||0|
|April 2, 2020||184||10||2||0||20||162||0|
|April 1, 2020||174||35||2||0||9||163||0|
|March 31, 2020||139||8||2||0||9||128||0|
|March 30, 2020||131||20||2||1||8||121||0|
|March 29, 2020||111||22||1||0||3||107||0|
|March 28, 2020||89||19||1||0||3||85||0|
|March 27, 2020||70||5||1||0||3||66||0|
|March 26, 2020||65||14||1||0||2||62||0|
|March 25, 2020||51||7||1||0||2||48||0|
|March 24, 2020||44||4||1||0||2||41||0|
|March 23, 2020||40||10||1||1||2||37||0|
|March 22, 2020||30||8||0||0||2||28||0|
|March 21, 2020||22||10||0||0||1||21||0|
|March 20, 2020||12||4||0||0||1||11||0|
|March 19, 2020||8||0||0||0||1||7||0|
|March 18, 2020||8||5||0||0||1||7||0|
|March 17, 2020||3||1||0||0||0||3||0|
|March 16, 2020||2||0||0||0||0||2||0|
|March 15, 2020||2||0||0||0||0||2||0|
|March 14, 2020||2||0||0||0||0||2||0|
|March 13, 2020||2||0||0||0||0||2||0|
|March 12, 2020||2||0||0||0||0||2||0|
|March 11, 2020||2||0||0||0||0||2||0|
|March 10, 2020||2||0||0||0||0||2||0|
|March 9, 2020||2||1||0||0||0||2||0|
|March 8, 2020||1||0||0||0||0||1||0|
|March 7, 2020||1||0||0||0||0||1||0|
|March 6, 2020||1||0||0||0||0||1||0|
|March 5, 2020||1||0||0||0||0||1||0|
|March 4, 2020||1||0||0||0||0||1||0|
|March 3, 2020||1||0||0||0||0||1||0|
|March 2, 2020||1||0||0||0||0||1||0|
|March 1, 2020||1||0||0||0||0||1||0|
|February 29, 2020||1||0||0||0||0||1||0|
|February 28, 2020||1||1||0||0||0||1||0|