COVID-19: FCMB Sustains Support to Government and Nigerians with multi-dimensional intervention strategy

As the COVID-19 (novel coronavirus pandemic) takes an intense twist, with its prevalent negative effect on individuals, households, businesses and health systems, leading financial services provider, First City Monument Bank (FCMB), is stepping up the tempo of its interventions through various humanitarian gestures.

As a caring and responsive Bank, FCMB has ensured the stability of its robust digital channels thereby enabling customers to have full access to financial transactions and other services, while also helping the government, communities and individuals to mitigate the impact of the pandemic.

The institution’s intervention has been hinged on providing relief across a range of areas spanning across testing, the provision of PPEs (personal protective equipment), food for the very needy and ease of doing business for small and medium scale firms.

By far, FCMB's most significant contribution – of N250 million - has been to the intervention initiative set up by the Central Bank of Nigeria (CBN), in partnership with the private sector, to assist the Federal Government respond effectively to COVID-19, known as the Private Sector Coalition Against COVID-19 (CACOVID) . The fund will also support households and businesses to mitigate the impact of the virus, through the building of isolation and treatment centres, providing personal protective equipment and distributing food to over 10 million of the most economically vulnerable Nigerians.

Also, FCMB is providing relief items to challenged individuals and households across Nigeria affected by the lockdown by working with various charities and state governments. The palliatives include Personal Protective Equipment for health workers and food items to sustain a large section of the population whose means of livelihood have been affected by COVID-19 and the prevalent lockdown.

In addition, the Bank has provided support to givefood.ng coalition, coordinated by Babban Gona Farmer Services Nigeria (an agricultural franchise), which aims to provide meals for 1 million vulnerable Nigerians every week. This will go a long way to sustain a large section of the population whose means of livelihood have been affected by COVID - 19 and the prevalent lockdown.

In partnership with 54gene, FCMB is also sponsoring the testing of 3,000 people in Ogun state to determine their COVID-19 status. This support is complementing the State’s effort to determine and mitigate the extent of the spread of the pandemic.

The financial institution is equally supporting borrowing customers by providing payment moratoria during this period, to ensure they are able to survive and continue to pay their workers.

FCMB has continued to distinguish itself through innovation and the delivery of exceptional offerings and the institution firmly believes that the nation will emerge stronger and much more resilient at the end of the pandemic.