Capital Market Committee Donates Ambulance to FCTA

Image

By Dipo Olowookere

An ambulance and other medical essentials have been donated to the Federal Capital Territory Administration (FCTA) by the Capital Market Support Committee on COVID-19 (CMSCC).

The CMSCC was set up on Thursday, April 16, 2020, to coordinate the capital market community’s contribution to fighting COVID-19, with Mr Ariyo Olushekun appointed as Chairman.

Since its establishment, the committee has been working tirelessly to mobilise resources from market participants and other stakeholders to advance the cause of providing palliatives to those in need and medical equipment to designated hospitals and isolation centres.

On Thursday, the acting Director-General of the Securities and Exchange Commission (SEC), Ms Mary Uduk, led other members of the panel to the FCTA for the donation.

The team commended the FCTA for its efforts in assisting the federal government to combat the COVID-19 pandemic in the country.

According to Ms Uduk, since the country recorded its COVID-19 index case in February this year, the number of affected persons has been on the increase, leading to emergency situations and in some cases, death.

She acknowledged the various on-ongoing efforts to combat the pandemic, both from the government and private sectors, pointing out that the capital market recognises the need to lend its support towards strengthening the available response mechanisms as well as ameliorating the burdens on those affected.

“Consequently, the Nigerian capital market community, led by SEC, in April of this year, set up the CMSCC to mobilise the necessary resources and coordinate all efforts required in that regard.

“The committee has been mobilising financial support and other resources from capital market participants and stakeholders for the purpose of providing medical and protective supplies as well as other palliatives.

“The CMSCC hereby announces the execution of the first phase of its intervention. This phase would cover donation of ambulances and other medical items to Lagos State, Kano State and the Federal Capital Territory, being centres with a relatively high number of cases.

“The CMSCC would also be donating an ambulance to the Presidential Task Force on COVID-19, to support the efforts in flattening the curve in Nigeria,” she said.

Ms Uduk also encouraged “all capital market stakeholders to key into this initiative and contribute to the CMSCC COVID-19 fund to enable the capital market community to deliver on planned future interventions.

“We also encourage fellow Nigerians to continue to take necessary safety precautions and abide by directives issued by the federal government and relevant health agencies.”

She expressed optimism that, “Together, we will overcome this pandemic. We believe these donations will aid in fighting the pandemic and flattening the curve in Nigeria.”

Speaking further, Ms Uduk said the committee has studied relevant data on the pandemic and has identified critical areas of intervention, in the first phase of the execution of this initiative, the centres with a relatively high number of cases, including the Federal Capital Territory have been prioritised.

She thanked the team and those who have contributed to the fund and also expressed appreciation to the Minister and his officials for the privilege of collaborating with SEC in the effort to make Nigeria free from COVID-19.

In her remarks, Minister of State FCTA, Dr Ramatu Tijjani Aliyu, urged Nigerians to continue to follow laid down protocols as COVID-19 is real.

“We know that lockdown is being eased, but this is not the time to let down our guards, we must continue to maintain social distancing, use our face masks when in public places as well as other protocols,” she said.

Mrs Aliyu commended the SEC for the donation, saying it will assist greatly in ensuring quick response and efficiency in the fight against the pandemic.

Share
Related Stories
Image
21-December-2023

Diabetes: Colexa Biosensor Manufactures Blood Glucose Meters, Strips

By Modupe Gbadeyanka A subsidiary of Codix Pharma Limited, Colexa Biosensor Limited, is now producing blood glucose meters and strips, which have been duly evaluated, approved, and registered by the National Agency for Food and Drugs Administration and Control (NAFDAC). This flagship product addresses the prevalence of diabetes in Africa affecting millions of people living with the disease, as it would assist in early detection and management to aid recovery and wellness. Speaking at the commissioning of its In-Vitro Diagnostics (IVD) factory in Lagos, the chairman of Colexa Biosensor Limited, Mr Sammy Ogunjimi, said with the firm’s focus on Africa

Image
19-February-2024

My 1Health Connects Patients With Global Healthcare Expertise

Between 2011 and 2019, life expectancy across sub-Saharan Africa rose from 57.56 to 61.24 years. While there was a slight dip at the height of the COVID-19 pandemic, that rise is pretty remarkable. Even more remarkable is the fact that life expectancy in the region was just 50 at the turn of the millennium. While there are numerous factors behind that rise, economic growth and improved disease prevention and treatment are among the most notable. The former has ensured that a growing proportion of Africans have access to the basic infrastructure, like clean drinking water, that is so important to

Image
20-February-2024

Stanbic IBTC Bank Assembles Stakeholders to Shape Nigeria’s Healthcare Future

By Modupe Gbadeyanka On Thursday, February 22, 2024, experts and other stakeholders within Nigeria’s healthcare sector will converge to explore ways to improve the landscape at an exclusive healthcare breakfast session organised by Stanbic IBTC Bank Limited, a subsidiary of Stanbic IBTC Holdings Plc. The event themed The Business of Healthcare: Challenges and Opportunities, will feature a distinguished panel discussion and a keynote address by the chief executive of JNC International Limited, Mrs Clare Omatseye, while the Commissioner for Health in Lagos, Professor Akin Abayomi, is the special guest of honour. The expert panel will comprise of prominent industry personalities

Image
29-January-2024

Stop Importation of Medical Syringes—NAFDAC

By Adedapo Adesanya The National Agency for Food and Drug Administration and Control (NAFDAC) has cautioned members of the Association of Nigerian Licensed Customs Agents (ANLCA) to desist from importation of medical syringes, saying the illegal act may kill local pharmaceutical industries. In a statement signed by NAFDAC’s Resident Media Consultant, Ms Sayo Akintola, the agency urged members of ANLCA to think more of the interest of the country over and above personal gains in their activities as clearing agents at the nation’s ports. It said the NAFDAC Director-General, Mrs Mojisola Adeyeye, gave the advice in Lagos on Thursday during

More Stories
Image
12-December-2022

APC Primary: Court Flings Suits Against Akande-Sadipe

By Modupe Gbadeyanka A suit filed against a House of Representatives member, Mrs Tolulope Akande-Sadipe, by Mr Olugbemi Sunbo, to challenge her emergence as the candidate of the All Progressives Congress (APC) in the 2023 general elections has been thrown out. In a ruling on Friday, December 9, 2022, Justice Uche Nma Agomoh of the Federal High Court sitting in Ibadan held that the case brought before the court by Mr Sunbo lacked merit. The plaintiff had said the lawmaker was not the rightful candidate of the party for the Oluyole Federal Constituency. He claimed that the primary of the

Image
07-May-2020

Crude Oil Slips on Renewed Oversupply Worries

By Adedapo Adesanya Crude oil failed to make a six-day growth at the market on Wednesday, May 6, slipping for the first time in almost a week. This happened in the face of a renewed oil glut problem, which shoved recovering demand to the sidelines after pushing the market up in the past five days. The Brent crude, which crossed the $30 levels on Tuesday, returned to $29.74 per barrel after shedding 4 percent or $1.21, while the US West Texas Intermediate (WTI) crude fell by 2.3 percent or 57 cents to sell at $24.00 per barrel. The gradual easing

Image
16-May-2017

UN Seeks over $1.4b for South Sudan Refugees in 2017

By Modupe Gbadeyanka The UN Refugee Agency and the World Food Programme have urged donors to step up support for desperate refugees fleeing South Sudan. Humanitarian agencies are seeking $1.4 billion to provide life-saving aid to South Sudanese refugees in the six neighbouring countries until the end of 2017 – according to an updated response plan presented in Geneva on Monday. The South Sudanese refugee response plan so far remains only 14 percent funded. “Bitter conflict and deteriorating humanitarian conditions in South Sudan are driving people from their homes in record numbers,” said UN High Commissioner for Refugees, Filippo Grandi.

Image
25-June-2021

Unlisted Securities Close Flat Despite NGX Loss

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange closed flat on Thursday, May 21 despite a stock recording a price movement. The Nigerian Exchange (NGX) Group recorded a 2.4 per cent or 43 kobo decline during the session to close at N18.32 per share as against N18.75 per share of the previous session. However, this could not sway the unlisted securities market to left or right as it remained static with the key performance indicators closing unchanged when trading activities were concluded yesterday. Business Post reports that the market capitalisation of the NASD Exchange retained the previous value of

Image
25-January-2017

WFP Director to Visit Boko Haram Affected Areas

By Dipo Olowookere World Food Programme (WFP) Executive Director Ertharin Cousin arrives in Nigeria late Tuesday for talks with government officials and to visit the Northeast, where WFP is assisting more than a million people who lives were wrecked by Boko Haram violence. After meetings with government and United Nations officials in Abuja, Cousin flies to the northeastern city of Maiduguri to review WFP operations and meet families receiving assistance, and partners, WFP staff and government officials leading the response to the crisis. Conflict with Boko Haram has left nearly two million people in need of emergency assistance. In December,

Image
26-October-2016

Shell Begins Crude Export From Forcados Terminal

By Modupe Gbadeyanka The export of crude oil from the Forcados terminal in the restive Niger Delta by the Royal Dutch Shell has commenced. The terminal was attacked by militants in the region, which forced it to be shut down for repairs. “The Shell Director, Mr Andrew Brown, informed the President of the resumption of oil exportation through the Forcados terminal following its restoration,” the presidency said after a meeting between Brown and President Muhammadu Buhari. However, Shell spokesman has refused to confirm or deny this. “Brown commended the anti-corruption posture of the Buhari administration as well as the efforts

Image
01-May-2018

22nd OTC FX Futures Contract Matures, Settles on FMDQ

By Dipo Olowookere The Central Bank of Nigeria (CBN) has remained a strong force with supporting the operations of the Naira-settled OTC FX Futures market from inception, consistently offering quotes for the contracts over the past twenty-one (21) maturities to ensure sustainability of a market that has contributed phenomenally to the stability of the Nigerian FX market. With the maturity of the NGUS APR 25 2018 contract (notional amount, $660.49), the total value of contracts so far matured and settled on FMDQ, stands at $9.13bn. A total of c. $12.03bn worth of OTC FX Futures contracts have been traded so

Image
16-September-2022

US Promises $5m for Africa’s Methane Gas Emissions Fight

By Adedapo Adesanya The United States government has announced it will provide a $5 million grant to the African Development Bank (AfDB) to support efforts to abate methane gas emissions, across Africa. Methane accounts for about half of the net rise in global average temperature since the pre-industrial era. The grant, subject to the completion of US domestic procedures and approvals, will go to the multi-donor Africa Climate Change Fund, which is managed by the African Development Bank. The Fund supports a broad range of activities covering climate resilience and low-carbon growth. US special presidential envoy for climate, Mr John

Ad
Ad
Recent Stories
Image
04-March-2024

UK Announces £37.3m to Boost Livelihoods in Nigeria, Others

By Adedapo Adesanya The United Kingdom has announced new funding for the Mobile for Development Programme to help more people access mobile and digital technologies to find new opportunities and boost their livelihoods in Nigeria and other developing countries. UK’s Minister for Development and Africa, Mr Andrew Mitchell MP, during a speech at Mobile World Congress last week, announced that the UK is providing £37.3 million of new support for the Mobile for Development Programme. The new UK funding for innovative mobile phone technology will help change lives in developing countries around the world by harnessing AI technology to provide

Image
04-March-2024

Newly-Listed Transcorp Power Targets N500bn Revenue by 2031

By Adedapo Adesanya The latest company to join the Nigerian Exchange (NGX) Limited, Transcorp Power Plc, has announced a revenue target of N500 billion by 2031, tapping opportunities in the capital market and sustainable energy. This was disclosed by the Managing Director of the firm, Mr Peter Ikenga, during the Facts Behind the Listing held at bourse on Monday. The firm, owned by businessman and Chairman of UBA Plc, Mr Tony Elumelu, listed its stocks on the Main Board of the nation’s flagship exchange by introduction. It listed 7,500,000,000 ordinary shares of 50 Kobo each at N240.00 per share. Speaking

Image
04-March-2024

DisCos Must Promptly Respond to Customers’ Complaints—FCCPC

By Aduragbemi Omiyale Electricity distribution companies (DisCos) in the country have been charged to respond to customers’ complaints quickly for better service delivery. This task was given to the energy firms by the Federal Competition and Consumer Protection Commission (FCCPC), which said the companies must design a quick response mechanism to address issues from their customers. Speaking last Saturday at a four-day one-stop-shop for addressing billing, metering, transformer, connection, disconnection, customer service and other electricity consumer issues in Ikeja Electric coverage areas, the acting executive chairman of FCCPC, Mr Adamu Abdullahi, said the highest number of complaints received by the

Image
04-March-2024

Omokungbe Wants Implementation of Initiatives on Women’s Entrepreneurship

By Aduragbemi Omiyale A former Rector of Yaba College of Technology (YabaTech), Lagos, Mr Obafemi Omokungbe, has called for the implementation of programmes and initiatives designed to promote women’s entrepreneurship in Africa. Speaking at the just-concluded 10th anniversary of the African Women Foundation for Nation Building (WINBAFRICA) in Lagos, Mr Omokungbe, a fellow of the Nigerian Society of Engineers (NSE), also appealed to African countries to renew their commitment to women’s empowerment, saying it is a crucial step towards nation-building. According to him, the journey toward women’s empowerment in Africa involves a comprehensive approach that spans various sectors, including education,

Image
04-March-2024

NGX Group Declares 75 Kobo Final Dividend Amid 57.4% Surge in FY’23 Earnings

By Aduragbemi Omiyale A final dividend of N1.5 billion, amounting to 75 Kobo per share has been declared by the board of the Nigerian Exchange (NGX) Group Plc for the 2023 financial year. This brings to N1 the total dividend to be paid by the company after paying 25 Kobo (N495.5 million) as interim dividend at mid-year. In its audited financial statements for the year ended December 31, 2023, the NGX Group said its gross earnings increased by 57.4 per cent to N11.8 billion in FY 2023 from N7.5 billion in FY 2022 because its performances in core revenue and

Image
04-March-2024

Red Line Rail: Labour Party Demands Value for Money

By Aduragbemi Omiyale The Lagos State chapter of the Labour Party has tasked Governor Babajide Sanwo-Olu to ensure the recently commissioned Red Line Rail does not turn out to be another failure due to poor maintenance culture. In a statement by its Publicity Secretary, Mrs Olubunmi Odesanya, the opposition party appealed to the state government to ensure its sustainability. While greeting residents of the metropolis on the project, which was commissioned last Tuesday by President Bola Tinubu, the Labour Party faulted the timing of its completion, saying the ruling All Progressives Congress (APC) ought to have put the initiative in

Image
04-March-2024

Access Bank to Give 700,000 MSMEs Access to N50bn Via YouThrive

By Modupe Gbadeyanka An initiative known as YouThrive designed to give entrepreneurs in the micro, small and medium enterprises (MSMEs) access to a N50 billion credit facility has been introduced by Access Bank Plc. The lender disclosed at a media briefing in Lagos that about 700,000 MSMEs would benefit from this programme, which is open to business owners between the ages of 21 and 40 years. YouThrive is a transformative initiative designed by Access Bank to empower, uplift, and accelerate the next generation of MSMEs. According to the Deputy Managing Director of Access Bank, Mr Victor Etuokwu, who addressed journalists

Image
04-March-2024

Peter Obi Laments Nigeria’s Dependence on War-Torn Ukraine for Food

By Adedapo Adesanya The presidential candidate of the Labour Party in the 2023 polls, Mr Peter Obi, has lamented Nigeria’s dependence on Ukraine, a country ravaged by war, for food aid. Mr Obi, in a statement on Monday, expressed dissatisfaction at the current economic realities and recounted times when the Nigerian economy was faring better than that of Ukraine in 2015. “Ukraine cultivates over 60 per cent of its arable land, whereas Nigeria has over 60 per cent uncultivated arable land. “Despite the conflict, Ukraine feeds itself, and exports agricultural products worth over $25 billion which is about the same

Image
04-March-2024

AfDb Injects $134m Into Rice, Maize, Cassava, Soybean Production in Nigeria

By Adedapo Adesanya The African Development Bank (AfDB) is supporting Nigeria in the cultivation of rice, maize, cassava and soybean to boost food production with the provision of $134 million to achieve this. The president of the multilateral lender, Mr Akinwunmi Adesina, said on Saturday after visiting the Centre for Dryland Agriculture (CDA) at Bayero University, Kano, that the bank would support Nigeria to cultivate 300,000 hectares each of rice and maize, 150,000 hectares of cassava and 50,000 hectares of soybeans during the 2024 planting season. The CDA is a World Bank-supported centre established to serve as a regional training

Image
04-March-2024

Salesforce Unveils Conversational AI Assistant Einstein Copilot

By Modupe Gbadeyanka A new customisable, conversational, and generative AI assistant for CRM, Einstein Copilot, has been launched by Salesforce. The system was unveiled at the Mobile World Congress in Barcelona, Spain, and it will use adequate company data to generate useful responses. The Einstein Copilot enables Salesforce customers to generate responses using their private and trusted data, while maintaining strict data governance and without requiring expensive AI model training. As a result, Einstein Copilot can answer questions, summarise content, create new content, interpret complex conversations, and dynamically automate tasks on behalf of a user, all from a single, consistent