The financial institution is a state-licensed microfinance bank.
Sheriff Almuhajir, the bank’s chief executive officer (CEO), who announced the scheme on Thursday, June 7, said it is aimed at helping Muslims purchase animals for sacrifice during the Eid el-Adha celebration, slated for June 16.
Eid el-Adha, also known as the “Feast of Sacrifice,” is the second of Islam’s two main holidays.
It commemorates Prophet Ibrahim’s devotion to sacrificing his son in obedience to God’s command. Muslims worldwide celebrate the day by performing the symbolic ritual of sacrificing animals such as rams, sheep, cattle, and goats.
NAN reports that Almuhajir said the bank has earmarked N150 million for the scheme.
His words
Regarding the conditions for obtaining the loan, Almuhajir stated that applicants must maintain a bank account with a minimum balance of N2,500 to access ATM cards and other services.
Additionally, applicants need to purchase a form from the banking hall for N1,000 and must be civil servants on the payroll of the state or local government councils.
Other requirements include submitting two passport photographs, a national identification number (NIN), a payment slip, and other relevant documents.
Almuhajir explained that this initiative aims to immediately assist individuals and families who cannot afford a ram for the festivities.
Meanwhile, TimesNow.com.ng previously reported that a PDP chieftain, Oke Umurhohwo, was hailed on social media for helping people repay the money they owed loan apps.
In a tweet on X on December 31, Oke announced his N1 million loan repayment plan, adding that he was doing it in the spirit of the season.
Proofreading by James Ojo Adakole, journalist and copy editor at TimesNow.com.ng.
Source: TimesNow.com.ng
