Business
COVID-19: Sanwo-Olu commends UBA over N1bn donation
- Says Fund will assist LASG to fight spread of virus
Lagos State Governor Mr. Babajide Sanwo-Olu, has commended the management of the United Bank for Africa (UBA) for donating N1bn to the state to fight the spread of the dreaded coronavirus.
He gave the commendation at the presentation of the cheque by the Managing Director of the bank, Mr. Kenneth Uzoka to him at the State House, Marina on Sunday evening.
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.
“And so, we are indeed happy that you decided to make this very bold move to support the health facility infrastructure in Lagos. You can be rest assured that once the structures have been developed, we will call you again to see what we have put these resources to.”
While presenting to the cheque, Uzoka said the one billion naira donation is also in fulfilment of the five billion naira commitment made by the UBA Group Chairman, Mr. Tony O. Elumelu, early last week.
Speaking further, he said that 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.
“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 are rest assured, because we believe without an iota of doubt that the state will use these funds effectively and efficiently,”
Last week, the bank announced a donation of over 5 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.
