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Walter Ukaegbu, Abuja
Jaiz Bank Plc., the premier non-interest bank in Nigeria, has secured a N3billion financing facility from the Bank of Industry (BoI) to boost and develop Micro, Small and Medium Enterprises (MSMEs) in the country.
The funds would be lent to small business operators to grow their businesses and create wealth, the Managing Director/CEO, Hassan Usman, said in Abuja yesterday.
Receiving the cheque from BoI’s Executive Director, Shekarau Omar, at the BoI office, the Jaiz Bank’s CEO assured that the funds will be disbursed to the targeted beneficiaries.
Hassan said, “fundamental to the vision and mission of Jaiz Bank is to create wealth for MSMEs. I want to assure you that maximum benefits will be to the stakeholders. We have already started pilot financial inclusion drive. We are also going to use agency banking to reach those people in places where we are not physically present. We are also intervening to provide financing to women group.”
Speaking earlier, BoI’s Executive Director, Shekarau Omar said part of the reasons for providing the facility to Jaiz Bank was BoI’s conviction that the funds will be disbursed to the target group.
He said, “we are ready to participate with institutions that are ready to support and develop areas that need support. We are comfortable this N3 billion will help Nigeria grow.”
