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Interswitch Employees Donate Salaries to Fight COVID-19

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Interswitch

In the wake of the novel Coronavirus pandemic, a lot of our realities have changed. New emotions have been evoked in us daily, amidst the disturbing depiction of the disease with all the disruption, death and fear it leaves in its wake.

Gradually we have imbibed new ways of interacting and new hygiene routines, among other things. However, one important outcome of the disease the world over, is a renewed sense of value, especially in relation to fellow humans.

Across the globe we have witnessed how good spirited individuals and organisations have donated to various governments at local, national and international levels, to support the fight against COVID-19.

These donations have ranged from cash donations, to the provision of much-needed personal protective equipment (PPE), medical supplies, logistical resources, infrastructure, and so on. We have also witnessed retired medical practitioners taking the risk to return to work to fill up the manpower gap. The outpouring of love is unprecedented…well, the impact of the pandemic is also unprecedented!

In Nigeria, the private sector intervention efforts started with the Coalition Against COVID (CACOVID), an initiative that was introduced by the Central Bank of Nigeria.

The coalition has helped set up isolation centres, renovated hospitals, sourced and provided medical supplies, fed indigent homes and inspired more people to make their honest contributions.

On the corporate side, one corporation that has indeed been inspired and risen to the occasion is the Interswitch Group, along with its employees.

The over 800 employees of the pan-African integrated payment and digital commerce company, agreed to sacrifice 10% of their monthly salaries for 3 months, as their own contribution to the on-going efforts to fight the scourge.

What we had seen prior to this was privileged individuals and corporates making donations, and of course that is to be expected.

What we however did not see coming was the employees of an organization deciding to voluntarily give up a percentage of their remunerations, to help others through these trying times. No, that is unusual. But that was what staff of Interswitch Group did.

The staff of Interswitch together raised N75 million, and then the organization and the board complemented that with their own contributions, bringing the total sum to N305 million. This huge sum will be deployed to support the COVID relief efforts of 23 state governments across the country.

Part of the money is also being used to provide relief food items to indigent members of the Interswitch immediate community.

Yet and another part will be set aside to support health workers on the front lines of the fight against the pandemic.

In a press release announcing this financial intervention, the Interswitch Group stated that its employees agreed to make this unusual gesture because they had the inspiration to make a difference in the fight against the pandemic.

And what a difference they are making! They have pooled together their little amounts of money to build a substantial mass of funds that is being deployed to make significant impacts in the lives of many.

While no individual donation might have amounted to millions, their collective donations amounted to quite puddle, and then attracted further donations from the board and the company, bringing the total amount to over N300 million.

In the bid make a difference, the Interswitch employees have redefined how we could all contribute to support the efforts to curb the virus.

They have shown how every amount of money is significant towards the fight against the disease. They have demonstrated that everyone can contribute, not only the billionaires.

The have made it crystal clear that every intervention worth its salt requires sacrifices, and for them, it is 10% of their monthly earnings for three months!

Mitchell Elegbe, the Group Managing Director/Founder of Interswitch said that the efforts by the company and its employees was consistent with the company’s mission of enabling the prosperity of individuals and communities across Africa.

With such sacrifice, the staff of Interswitch are indeed ensuring that the pandemic is checked, as well as safeguarding enabling environments and interactions that will bring about inclusive prosperity across the continent.

In a time where people are unsure of their future, careful about their spending and saving every extra kobo, these heroes are forfeiting part of their earnings to take care of their fellow citizens, providing support for their government and leaving an indelible mark in the sands of times.

So, as Nigerian workers take the center stage once again, and we celebrate them and their contributions to the economy, let us reflect on the sacrifices of this incredible workforce.

While this year’s celebrations will understandably be devoid of the usual pomp and pageantry, short on the usual speeches and demands from the trade unions, let us lift our glasses to these extraordinary workers of Interswitch, who are not making demands of their government or employers today, but instead are actively providing support.

Let us give it up to these heroes who will not be negotiating with their employers for pay rise, but will rather be voluntarily taking pay cuts, to help the indigent among us.

It is indeed a new lesson in giving which we hope will be imbibed, and further promoted, by many others, even as we all join forces to battle the COVID-19 pandemic.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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NUPRC Probes Gas Bubbling in Bille Community in Rivers

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gas bubbling bille

By Aduragbemi Omiyale

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has commenced an investigation into a gas bubbling incident in Bille community in Rivers State, but preliminary “deductions and field observations indicate that the gas bubbling may be associated with a subsurface phenomenon that could be linked to a variety of triggers.”

In a statement signed by its chief executive, Mrs Oritsemeyiwa Eyesan, on Thursday, the agency said it was worried about the unfortunate incident, assuring residents that efforts are being made to address the issue.

The commission acknowledged the concerns the “unsavoury development has raised in relation to public safety, the environment, and the health of the populace,” stressing that, “The overall well-being of our communities and the protection of the environment remain paramount to the commission, as they are to government.”

It stated that, “Upon notification of the incident, the commission activated a coordinated technical investigation process in line with established regulatory protocols to assess the nature and extent of the gas seepage, identify source(s) and potential cause(s), and propose immediate and long-term mitigation measures.”

“The investigative study is being conducted in collaboration with stakeholders to ensure comprehensive, fact- based outcomes for long-term sustainability,” it added.

“Detailed geotechnical and geological analyses are ongoing to determine the contributing factor(s) and possible remedies for prompt implementation,” the statement further said.

“The commission assures the Bille community of its resolve to ensure that necessary actions required to address the situation are taken in line with applicable regulations, industry standards and global best practices.

“Once again, the commission commiserates with the Bille community as we work assiduously with all stakeholders to unravel the incident, and enjoins members of the community to maintain the commendable level of responsibility whilst adhering to all safety measures and public health advisories issued by the relevant authorities,” the statement disclosed.

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Akwa Ibom Denies Plan to Sell Ibom Power Company

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Ibom Power Company

By Adedapo Adesanya

The Akwa Ibom State Government has dismissed claims that it plans to sell Ibom Power Company, describing the allegation as false and reaffirming its commitment to reviving the state-owned electricity asset through debt repayment and structural reforms.

In a statement issued on March 18, the Commissioner for Information, Mr Aniekan Umanah, said a report by a Uyo-based tabloid alleging plans to dispose of the company was “a wicked fabrication” that should be disregarded.

“At no time has the government approved the sale of Ibom Power Company as scrap or otherwise,” the statement said, adding that such claims exist only in the “imagination of mischief-makers intent on misleading the public.”

Instead, the government said it is focused on stabilising the company’s operations by clearing legacy debts, including a $9 million facility obtained from Afreximbank several years ago.

According to the statement, Governor Umo Eno approved a structured quarterly repayment plan of $560,000 beginning March 15, 2025, aimed at gradually liquidating the loan.

The government described the move as part of broader efforts to “rescue and reposition Ibom Power Company for sustainable operations,” stressing that the approach reflects a commitment to “revival, stability, and long-term value preservation, not liquidation.”

Beyond debt repayment, the state also outlined ongoing electricity sector reforms anchored on a Private Sector Participation (PSP) framework designed to attract investment while retaining public ownership of assets.

Under the initiative, the government said it has established key institutions, including the Akwa Ibom State Electricity Regulatory Commission and Ibom Electricity Holdings Limited, to strengthen oversight and coordinate state-owned electricity assets. Shares of the holding company have also been vested in the Akwa Ibom Investment Corporation.

The concession model being introduced will allow qualified private operators to rehabilitate, finance, and manage electricity infrastructure over a defined period, with strict performance benchmarks and regulatory supervision.

The government said the framework is structured to ensure that “the State will retain ownership and strategic control of all electricity assets,” while transferring operational and commercial risks to private sector participants.

It added that the reform programme is expected to improve reliability, resolve longstanding challenges, and promote a more efficient electricity market without placing additional fiscal pressure on the state.

On recent power outages across parts of Akwa Ibom, the government noted that electricity transmission and distribution currently fall outside its direct control. However, it said efforts are ongoing to engage relevant authorities to address the disruptions and improve supply.

The statement also criticised the publication that carried the initial report, accusing it of spreading misinformation and warning that “government’s measured silence should not be mistaken for weakness,” citing existing laws on libel and defamation.

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Eid-el-Fitr: Gaya Urges Prayers Against National Challenges

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NSIA Abdullahi Mahmud Gaya

By Modupe Gbadeyanka

Nigerians have been urged to use the occasion of Eid-el-Fitr to intensify prayers against the challenges confronting the nation.

This appeal was made by the independent non-executive director of the Nigeria Sovereign Investment Authority (NSIA), Mr Abdullahi Mahmud Gaya.

Mr Gaya described the current situation in the country as a test of citizens’ spiritual resolve and faith, tasking Muslims to reflect on the deeper significance of Eid-el-Fitr, noting that the festival symbolises sacrifice, obedience to Allah, and compassion for the less privileged.

“Every Muslim finds joy in observing the Ramadan fast, a fundamental obligation in Islam. We should not lose sight of the lessons it teaches: obedience to Allah, sharing our blessings with the needy, and being our brother’s keeper,” he said in a statement issued by his media assistant in Kano.

Speaking on the forthcoming general elections, Mr Gaya advised the electorate to vote for selfless leaders committed to national service and the welfare of Nigerians, describing the polls as a choice between progress and regression, stressing the need for voters to support candidates with verifiable achievements rather than empty promises.

He also urged Nigerians to remain mindful of their civic responsibilities by choosing leaders who demonstrate integrity, sincerity, and dedication.

According to him, the country’s future depends on the electorate exercising their voting rights wisely to elect leaders who understand the responsibilities of public office and approach them with humility, competence, and genuine commitment to service.

Mr Gaya expressed gratitude to Almighty Allah for His mercies and felicitated with the people of Ajingi, Gaya, and Albasu Local Government Areas, as well as Governor Abba Kabir Yusuf and Nigerians at large, on the successful completion of the Ramadan fast.

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