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First bank MD clarifies on looted CACOVID food palliatives across States

“I sit on the Steering Committee of the Private Sector Coalition Against Covid 19 christened CaCovid.

The other members of the SC are 1. Aliko Dangote, 2. John Coumatorous, 3. Jim Ovia, 4. Tony Elumelu, 5. Abdulsamad Rabiu, 6. Segun Agbaje, 7. Herbert Wigwe and 8. Godwin Emefiele (CBN Governor). We set up the coalition to pull resources together to support the Government to combat Covid 19 pandemic. Having successfully provided health facilities, diagnostic kits and medications to all the states and Abuja, we realised that the pandemic has destroyed the economic power (whatever that was worth pre Covid) of most Nigerians.

We decided to provide food to 1.7m most vulnerable families across the country and we put a substantial resources behind the initiative.

The food items we intend to purchase included rice, pasta, noodles, gari, sugar and salt, etc. The challenge was how to purchase those items worth about N15bn without driving inflation.

We had to contract this out to various manufacturers and that took time for them to deliver the goods to us. It was only in September and early October that we handed the goods over to the various state governments and FCT.

Its therefore a fallacy that the State Governments or Dangote have hoarded those foodstuffs.

“Iit is important that we interrogate information received thoroughly before we share or comment on such information. Significant amount of misinformation are trending on SM. We must be discerning and probing hence we join the fifth columnists in pushing our dear country on to the road to Kigali. I sincerely pray not

This is from Dr Sola Adeduntan, who is the MD/CEO of First Bank

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