Lagos State Governor Mr. Babajide Sanwo-Olu received a N1 billion cheque from the United Bank for Africa as part of the bank’s commitment to helping curb the devastating effects of the novel coronavirus (COVID-19) in the State.
Presenting the cheque to the governor, at the State House, Marina, the UBA’s Managing Director, Mr. Kenneth Uzoka, said the one billion naira donation is in fulfilment of the five billion naira commitment made by the UBA Group Chairman, Mr. Tony O. Elumelu, early last week.
Uzoka said as a socially responsible institution, UBA cares for its communities and for Lagos State, which has recorded the highest number of positive cases thus far, needing special attention.
He disclosed that the decision to give Lagos one billion naira was as a result of the important role that the state plays in the economy of not only Nigeria but Africa as a whole, given its vast population and other key economic factors.
He said: “Given the population of this state and that it is the business nerve centre, we at UBA are committed to lending our support to the state government. So today, we are giving you and the state one billion naira to support your endeavour in fighting the Coronavirus disease.
“I will not fail to mention that this wasn’t an easy decision for us because Lagos is just one of the many states in Nigeria. However, we looked at the importance of Lagos to Nigeria, but more importantly, we looked at the fact that Lagos has set up the right structure to administer whatever it is that we are giving to the state. So, we rest assured, because we believe without an iota of doubt that the state will use these funds effectively and efficiently,”
The Governor expressed appreciation to the financial institution for the support, saying that the money will go a long way to assist the state in kicking out the pandemic.
He said: “We appreciate UBA. This is not the kind of money that we would want to take for granted. This is really an important intervention and this fund will go a long way to meet all of our needs both now and in the future, to ensure that Lagos continues to remain safe for business.”
Last week, the bank announced a donation of N5 billion Naira (USD14 million), through the UBA Foundation, to catalyse a comprehensive pan-African response to the fight against the coronavirus (COVID-19) global pandemic.