Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele has revealed that the Coalition Alliance Against COVID-19 (CACOVID), will be spending N100 billion to further strengthen the security apparatus in the country by procuring equipment and gadgets for the Nigerian Police Force over the next 2 years; as its contribution to fully modernize the Nigerian Police.
Emefiele, revealed this during at a press briefing in Abuja on activities of the Coalition.
He said, “As we are all aware, the aftermath of the EndSARS protest that took place in several parts of the country in October 2020, led to the vandalization of private and public assets, which includes business houses, shopping malls, banks and police stations.
Many small and medium scale businesses that were affected have struggled to resume full business activities. In addition, the provision of security which is essential to the conduct of business activities has been hampered due to the damage of 44 police stations across the country.
If left unattended, this situation could undermine confidence in our economy and derail the efforts of the government in enabling faster recovery of the Nigerian economy, following the impact of COVID-19.”
According to the Governor, the Bankers Committee and critical stakeholders in the private sector, under the auspices of the CACOVID alliance, held series of meetings towards developing measures that will support the government’s efforts in rebuilding confidence in our nation’s economy.
Among the things the Coalition has promised to do include extension of relief through concessionary loans to affected businesses and firms, so they can rebuild and restock their stores and continue to conduct their business activities.
CACOVID is also committed to fully rehabilitate all 44 damaged and destroyed police stations nationwide in a bid to restore provision of security in affected locations.