President, Muhammadu Buhari, has issued new directives on COVID-19 donations to Nigeria by philanthropists, companies and international organisations.
He has approved the opening of five COVID-19 Donor Accounts which form part of the existing Treasury Single Account arrangement in five commercial banks.
The approved banks are Zenith Bank, Access Bank, Guarantee Trust Bank, UBA, and First Bank.
The framework covered all public funds allocated and dedicated to the fight against COVID-19 including the Fiscal Stimulus Package as well as all donations by corporate bodies and individuals to the Federal Government towards the fight against COVID-19 and the mitigation of its social and economic effects on citizens.
The directive also included donations under the Private Sector Coalition Against COVID-19 (CACOVID) Fund domiciled at the Central Bank of Nigeria.
The News Agency of Nigeria reports that the Nigeria Private Sector Coalition Against COVID-19 (CACOVID), as of April 23, realised about N27,160 billion.
According to him, Federal Government recognises citizens expectation that these resources be prudently applied towards the fight against COVID-19.
“In accordance with citizens expectations, the government is committed to managing these funds with the highest sense of transparency and integrity.
“This framework is therefore designed to articulate the measures put in place by government for the transparent and accountable management of COVID-19 Donor Funds as an expression of its commitment towards bridging the trust gap.
“The TSA Sub Account in commercial banks are to be used for the purposes of receiving COVID-19 donations only. On no account shall any other fund of Federal Government Ministries, Departments and Agencies be deposited into the accounts or any other account in commercial banks.