COVID-19 Vaccine: Nigerian Billionaires In Ego Fight

The management of BUA Group has accused an unnamed prominent member of CACOVID of plotting to stop the one million doses of COVID-19 vaccines it singlehandedly purchased.

On Monday, the group said that it had paid for one million doses of vaccine.

It said the deal was struck through the AFREXIM vaccine programme in partnership with CACOVID.

It also announced that the vaccines are expected to be delivered next week to become the first delivery of vaccines to Nigeria since the COVID-19 vaccines were certified for global use.

“BUA decided to secure these 1million vaccines by paying the full amount for the vaccines today (Monday) because these vaccines became available only last week through AFREXIM. We expect the vaccines to be delivered within the next 14 days and hope priority will be given to our frontline workers who have committed their lives to managing the pandemic,” a statement signed by BUA founder, Abdul Samad Rabiu, said.

Rabiu’s statement was immediately countered by an announcement from CACOVID, which disowned BUA’s purported purchase of one million COVID-19 vaccines singlehandedly for Nigeria.

CACOVID said that no individual company has the capacity to strike such a deal.

“Alhaji Abdulsamad must have been misquoted because these claims are not factual as CACOVID operates on a collegiate fund contribution model. There is no agreement between BUA, CACOVID, and Afreximbank”, CACOVID said in an official statement.

“During the CACOVID weekly call of February 8th, Governor Emefiele, relayed to the larger group a call that he held with Alhaji Aliko Dangote and Herbert Wigwe with Afreximbank President, Benedict Oramah on Sunday, Feb 7th. President Oramah briefed the 3 CACOVID leaders on the $2 billion facility the Bank has set up with the African Union Vaccine taskforce to purchase vaccines for the African Continent.

“The allocation for Nigeria has been capped at 42 million doses. President Oramah explained that 1 million doses were ready for shipment to Nigeria in the next 2 weeks if a down payment was made by today, February 8th,” the statement said.

In reaction, BUA expressed disappointment, accusing CACOVID of mischief and spreading false information.

The group has however insisted it singlehandedly paid for the one million doses, providing documents detailing how the payments were made.

BUA said CACOVID was attempting to “scuttle” the plan to secure the vaccine by disowning the arrangement because, “they (CACOVID) were unable to take the initiative.”

In reponse, the group in a statement titled “Rejoinder: BUA replied CACOVID – Don’t Play Politics with Nigerians lives.” said it is not time for politics but to save lives.

“We find this release by CACOVID to be very petty and unbecoming of seemingly serious corporate citizens because it is tantamount to playing with Nigerian Lives. This is no time for politics. It is time for us to come together to help Nigerians and it does not matter who is helping or paying”, the company said.

“At the CAVOVID steering committee meeting held today February 8, 2021 (of which BUA is a member), members were informed by the CBN Governor that CACOVID had been given the opportunity through the Afrexim Platform to access and pay for 1million doses provided payment was made today or tomorrow(Monday or Tuesday) – failure which the opportunity to get those doses next week may be lost.

“After extensive deliberations, there was no agreement reached, and despite members being offered the opportunity to donate funds towards the doses, none offered.

“BUA then took it upon itself to offer to pay for the 1million doses at the agreed rate of US$3.45 per dose totaling US$3,450,000,000.00 which translates to 1.311billion Naira.

“The Chairman of BUA also requested through the CBN governor that the Naira equivalent be paid to the relevant account with CBN, and that CBN forward the dollar payment to Afrexim on CACOVID’s behalf.

“This payment was made immediately after the meeting and BUA transferred the money to the CBN (see payment confirmation attached) in order to meet the deadline,” the statement read.

The payment slips provided by BUA showed the payments were made in three tranches to the CBN.

BUA said it would continue to support Nigeria’s COVID-19 response despite what it described as a petty action by CACOVID.

“We stand ready to keep supporting and despite this petty action, we have decided to let the money remain in the CACOVID Account with the CBN pending when they are ready to utilize the funds for Nigerians to access the vaccines.”

Recall that on March 27, 2020, a private sector coalition, spearheaded by the Central Bank of Nigeria with the Aliko Dangote Foundation and Access Bank, announced the creation of CACOVID to mobilise private sector resources toward supporting the government’s response to the crisis.

The group say it has raised more than $72 million in donations.

Members of CACOVID included Nestle, MTN, Guaranty Trust Bank, Zenith Bank and Abdulsamad Rabiu’s BUA Group.

BUA has been entangled in supremacy battle with the Dangote Group over business supremacy.

BUA once accused Dangote as one which “stinks of desperation in its continued attempt to disregard the judicial process and scheme a viable competitor out of business as has been their legendary antecedent.”

It said Dangote Group was scheming plans to ensure BUA Group was out of business like it allegedly did to Ibeto, Polo House Jetty Tincan previously owned by Usman Dantata, and others.

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