Hajj Savings will boost MSMEs, financial discipline

The newly introduced Hajj Savings Scheme by the National Hajj Commission of Nigeria (NAHCON) in collaboration with State Muslim Pilgrims Welfare Boards and Jaiz Bank Plc will boost access to finance Micro, Small and Medium Enterprises (MSMEs), the Jigawa State Governor, Muhammad Badaru Abubakar has said.

Speaking at the launch and sensitisation of the Scheme in Dutse, Jigawa State, the governor said the scheme will assist the people, especially in the rural areas to embrace savings for future investments even after performing the Hajj.

The governor, represented by his deputy, Alhaji Umar Namadi, said the state government will collaborate with the pilgrims board to sensitise everybody across all the local government councils.

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Also, the Edo State Governor, Godwin Obasaki said the scheme would make it easier for Muslims going for Hajj and there is guarantee that it would promote international best practice in Hajj operations.

The governor, represented by the Permanent Secretary, Central Admin. George Egberasie launched the scheme in Benin where he promised that his government will support the scheme because of its potential to increase the economic fortune of depositors.

In Katsina, the deputy governor, Mannir Yakubu, represented by the Permanent Secretary in the office of the governor Alhaji Abubakar Aliyu appreciated all stakeholders in the scheme and promised the government’s support to make it successful.

“The scheme is economically driven as it is a gateway to investment,” he said.

He advised that the scheme should not be rushed for the desired results to be achieved. He also cautioned against scammers.

Speaking, the Managing Director of Jaiz Bank Plc, Mallam Hassan Usman said the Bank will ensure prudent management of the funds from the scheme by investing it in Shariah-compliant transactions.

He said profit realised from the investment will be shared amongst stakeholders – the savers, Jaiz Bank Plc and NAHCON/State Muslim Pilgrim Boards.

Also speaking at the occasions, the Chairman of NAHCON, Alhaji Zikirullah Kunle Hassan, explained that the HSS is a queueing plan on first-come, first-serve basis.