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Merit Ibe
The Manufacturers Association of Nigeria (MAN) has called on governments at all levels and commercial banks to set up interest free trust and intervention funds to support businesses affected by the recent looting and vandalism by ENDSARS protesters across the country.
MAN noted that the attacks on properties of its members, private and government establishments had serious economic impact on the economy.
The Association’s Acting Director General, Ambrose Oruche, who made the appeal, urged government to increase efforts at quelling attacks on properties.
Commiserating with families of those who lost their lives, the Association demanded that they be adequately compensated.
Disclosing that it was still compiling the list of some of its members whose properties were looted or vandalised, Oruche emphasised that the funds were necessary in view of the current challenging economic conditions of the nation.
He admitted that some banks had created a special fund to support victims, and appealed that more commercial banks should lend support to individuals and businesses trying to rebuild.
“No doubt, the economy has been impacted by this ugly incident of looting and arson of public and private businesses.
“Some banks like Access Bank have come up with interest-free facilities and the Lagos State government with palliatives for businesses.
“I want to appeal to other commercial banks to assist those who have lost valuables to this incident.
“We want the government to set up a trust fund for people that were affected for them to recover and continue to create employment.”
While appealing to government to address the issue of national security, and the police to adopt use of modern technologies in investigations and protection of lives and properties, Oruche advised government to consider the introduction of community policing where necessary.
