#EndSARS: CACOVID to support businesses attacked by hoodlums, says Emefiele

Godwin Emefiele, governor of Central Bank of Nigeria (CBN), says the Coalition Against COVID-19 (CACOVID) will soon release a blueprint on how businesses attacked by hoodlums during the unrest that followed the #EndSARS protests will be supported.

A statement signed by Gboyega Akosile, chief press secretary to Lagos state governor, quoted Emefiele as saying the prevalence of youth unemployment provides a breeding ground for criminal activities that can be harmful to the progress of the country, hence CACOVID will provide platforms that will create millions of jobs for the youths within five years.

“Our youths have immense potential, energetic and if well-handled can catapult our nation to the forefront of leading nations in the world,” Emefiele said.

“We must, therefore, seek to promote increasing policies that will equip our youths in the right skills that will support innovation, employment and wealth creation.

“It is in this light that key stakeholders in the Nigerian private sector came together under the auspices of CACOVID to brainstorm of the ways to prevent the effect of the recent unrest from eroding confidence in our economy.

“I am pleased to note that the CACOVID alliance will, over the next week, be unveiling a blueprint that will provide details of our planned support that positively affect households and businesses.

“This is in addition to measures that will create millions of jobs for our youths over the next five years. Many parts of the country were affected by the unrest but Lagos remains the worst hit.”

He also said the bankers’ committee and other stakeholders in the private sector under the auspices of CACOVID would rebuild 44 police stations destroyed in the unrest.

“The CACOVID alliance is fully aware of the vital relationship between security and a prosperous economy. The damage done on police stations in different parts of the country can undermine the provision of adequate security, which is vital to households and businesses.

“The CACOVID alliance is committed to the rebuilding and rehabilitation of all the 44 police stations destroyed in the unrest. More than half of the police stations are in Lagos; funds will be provided to rebuild these stations.”

Emefiele further said bankers’ committee had started to take stock of private businesses destroyed during the unrest, adding that those with existing loan facilities and those with no loan will be supported to come back on their feet.