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COVID-19: Capital Market Support Committee to Raise N1bn From Participants


The Capital Market Assist Committee on Covid-19 has been given the accountability to boost N1 billion from market contributors and stakeholders inside the shortest attainable time.

The committee was inaugurated by the Nigerian capital market neighborhood, led by the Securities and Change Fee.

A press release by the Head Company Communication, Securities and Change Fee, Efe Ebelo, on Tuesday stated the transfer is aimed toward supporting the struggle towards COVID-19 and its impression on the Nigerian financial system.

The assertion, whereas quoting the Performing Director Normal of the SEC, Ms. Mary Uduk, disclosed that the fund is predicted to help in cushioning the results of the pandemic on poor and venerable Nigerians in addition to offering some crucial medical provides.

“The Committee has commenced work and has set a target to raise the sum of One Billion Naira (N1,000,000,000) from market participants and stakeholders within the shortest possible time. The money will be used to provide palliatives to the impoverished and medical equipment to designated hospitals and isolation centres.”

Whereas acknowledging on-going efforts at offering crucial medical provides and palliatives to Nigerians, Uduk acknowledged that the Nigerian capital market neighborhood recognises that extra nonetheless must be completed, particularly for the weak and fewer privileged within the society.

“To this finish, the Nigerian capital market neighborhood, led by the Securities and Change Fee, on Thursday, April 16, 2020, inaugurated a market-wide Committee, the Capital Market Assist Committee on Covid-19, to coordinate the capital market neighborhood’s effort in mitigating the medical and financial impression of the pandemic on the weak and the much less privileged.

”It is a difficult time for everybody and the capital market neighborhood can’t afford to remain on the side-lines within the struggle towards Covid-19.

We urge fellow Nigerians to proceed to take all obligatory security precautions and abide by all directives issued by the Federal Authorities and its related businesses. Collectively, we’ll overcome this pandemic” she added.

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