• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Economy Socio Economic

#EndSARS: Bankers’ Committee, Private sector lead Lagos rebuilding team to raise trust fund

Abiola Odutola by Abiola Odutola
November 17, 2020
in Socio Economic, Spotlight
#EndSARS: Bankers' Committee, Private sector lead Lagos rebuilding team to raise trust fund
Share on FacebookShare on TwitterShare on Linkedin

The Lagos State Government has set up an eight-man team to champion its rebuilding efforts, after several properties were vandalized by hoodlums, who had hijacked the #EndSARS protest. The team is dominated by members the of Bankers’ Committee and the Private Sector.

This was disclosed by the State Governor, Babajide Sanwo-Olu, via the state’s Twitter handle on Monday.

According to the Governor, who issued a statement after a meeting with the Vice President Yemi Osinbajo and stakeholders, the proportion of the devastation suffered by the State is unprecedented. He added that the coordinated violence set Lagos economy – fifth largest in Africa – back by hundreds of billions of naira.

RelatedStories

Governor Sanwo-Olu to be honoured at Nairametrics Capital Market Awards for positioning Lagos as West Africa’s financial hub 

Lagos Govt targets completion of 14,000 housing units by 2026 

June 11, 2025
LASTMA impounds 9,370 vehicles over traffic violations in H1 2024

Lagos Govt impounds 235 vehicles for illegal parking, traffic violations, and other infractions 

May 29, 2025

READ: NNPC partners Budget Office towards effective coordination of the 2020-2022 MTFF

The team, which was led by the Chairman of Citibank Nigeria, Mr. Yemi Cardoso, was constituted a fortnight ago by the Governor to coordinate the recovery effort.

Sanwo-Olu said the consultative forum was to set the stage for the necessary public-private partnerships and collaborations required for the task of rebuilding and restoration of the infrastructure that was destroyed.

READ: #EndSARS: Nigerian army says they are unhappy that Sanwo-Olu denied inviting them

He said, “The violence we witnessed last October is the most widespread carnage the State has seen in decades. Every aspect of life and livelihood in Lagos was affected – government buildings, offices, public monuments and historical archives, public infrastructure and very sadly too, private property and investments.

READ: Sanwo-Olu launches Nigeria’s first electric car, to complete Lagos-Badagry expressway

“The violence has, no doubt, set our economy back by hundreds of billions of Naira, and impacted our confidence. We have, however, found hope and great strength in the offers of assistance from far and wide, which culminated in the constitution of the Lagos Rebuild Committee to coordinate our efforts to rebuild and upgrade our state.

“We seek to restore the infrastructure that was destroyed, to revive the energy and confidence of everyone who has been affected by these losses, to help restore the confidence of the people of Lagos in the infinite potentials of Lagos. The State Government cannot do this alone. We need all the help that we can get.”

The Governor disclosed that the State Government would be setting aside a huge amount of money as the State’s collateral in the recovery effort, adding that the Cardoso-led team that will be coordinating the Trust Fund would be given legislative backing through an Executive Bill that will soon be transmitted to the House of Assembly.

READ: Orange launches high speed internet network in Nigeria, Ghana, and 6 others

“Money that will be donated into the Trust Funds would go into rebuilding and re-tooling security infrastructure, strengthening public transportation systems, restoring judicial and local government operations, rebuilding damaged public monuments,” he added.

Sanwo-Olu emphasized that transparency and accountability would be foundational elements in the implementation of the mandate of the rebuilding committee, stressing that the fund-raising and disbursement would be supervised by FBN Trustees Limited.

READ: Nigeria’s tax potentials remain untapped – Governor El-Rufai

PRESIDENCY, CBN, LEGISLATURE BACK LAGOS RECOVERY EFFORT, AS SANWO-OLU UNVEILS TEAM

…Bankers’ Committee, Private Sector Champion Rebuilding Effort
…Cardoso: ‘We Have A Tough Task, But We’ll Achieve It’@jidesanwoolu#LASG #RebuildingLagos
Read More.. https://t.co/6Mv823tcqv pic.twitter.com/thCeD0DFSZ

— The Lagos State Govt (@followlasg) November 16, 2020

What you should know

Nairametrics had reported when Governor Sanwo-Olu met President Muhammadu Buhari and he presented the report on the damage caused by hoodlums in Lagos during the post #EndSARS protest riots.

The presentation happened on Friday, November 6, 2020 at the Presidential Villa, Abuja, according to the official Twitter handle of the Nigerian President.

Explore Data on the Nairametrics Research Website


Follow us for Breaking News and Market Intelligence.
Tags: #EndSARSBabajide Sanwo-OluNigeria NewsVice President Yemi Osinbajo
Abiola Odutola

Abiola Odutola

For further inquiries about this article, contact: Email: abiola.odutola@nairametrics.com Twitter: @AbiolaOdutola @nairametrics

Related Posts

Governor Sanwo-Olu to be honoured at Nairametrics Capital Market Awards for positioning Lagos as West Africa’s financial hub 
Real Estate and Construction

Lagos Govt targets completion of 14,000 housing units by 2026 

June 11, 2025
LASTMA impounds 9,370 vehicles over traffic violations in H1 2024
Sectors

Lagos Govt impounds 235 vehicles for illegal parking, traffic violations, and other infractions 

May 29, 2025
Governor Sanwo-Olu to be honoured at Nairametrics Capital Market Awards for positioning Lagos as West Africa’s financial hub 
Business News

Governor Sanwo-Olu to be honoured at Nairametrics Capital Market Awards for positioning Lagos as West Africa’s financial hub 

May 21, 2025
Lagos plans N500 entertainment tax, eyes N20 billion annual revenue 
Real Estate and Construction

Lagos state delivers 9,970 housing units in six years, targets more homes by 2026 

May 13, 2025
Lagos Govt, Bank of Industry introduce N10 billion support fund for small businesses in Lagos  
Business News

Lagos Govt, Bank of Industry introduce N10 billion support fund for small businesses in Lagos  

May 9, 2025
LASG,
Economy

Lagos State to overhaul 30-year-old accounting system to attract investors

May 2, 2025
Next Post
Controversy trails Timipre Sylva’s resignation as Minister of State for Petroleum

FG says recent petrol price increase linked to Pfizer Covid-19 vaccine success

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank
Zenth Bank








DUNS

Recent News

  • NDLEA seizes over 1 million opioid pills in Bauchi, intercepts cannabis, meth in Kaduna, Abuja 
  • Governor Otu seeks PPP Investment for Bakassi $3.5 Billion Seaport Development 
  • JAMB to hold 2025 UTME mop-up exam on June 28 for absentees, biometric failures, others across Nigeria 

Follow us on social media:

Recent News

NDLEA seizes over 1 million opioid pills in Bauchi, intercepts cannabis, meth in Kaduna, Abuja 

NDLEA seizes over 1 million opioid pills in Bauchi, intercepts cannabis, meth in Kaduna, Abuja 

June 22, 2025
Governor Otu seeks PPP Investment for Bakassi $3.5 Billion Seaport Development 

Governor Otu seeks PPP Investment for Bakassi $3.5 Billion Seaport Development 

June 22, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics