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Home Companies Corporate Updates

Hajj Savings will boost MSMEs, financial discipline

NM Partners by NM Partners
February 12, 2021
in Corporate Updates
Hajj Savings will boost MSMEs, financial discipline
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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.


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Tags: Hajj Savings SchemeMSMEsNAHCONNational Hajj Commission of Nigeria
NM Partners

NM Partners

"NM Partners" encompasses a diverse range of articles and content published on behalf of various organizations, including corporate entities, government and non-governmental institutions, academic bodies, and key stakeholders in the economic sphere. This content spectrum covers press releases, formal announcements, specialized content, product promotions, and a variety of corporate communications tailored to engage our readership. Notably, a portion of these articles are sponsored content. At Nairametrics, while we provide a platform for these diverse voices, it is important to clarify that our relationship with the content under "NM Partners" does not imply endorsement or affiliation. The responsibility for the content accuracy and viewpoints expressed rests solely with the respective contributors. Nairametrics maintains a firm commitment to editorial independence and integrity. Consequently, we do not assume responsibility for any of the content published under "NM Partners." For any inquiries, comments, or feedback regarding the content featured in this section, we encourage open communication and can be reached at info@nairametrics.com. Additionally, we invite our readers and contributors to familiarize themselves with our Paid Post Guidelines, which outline the standards and processes governing paid content on our platform.

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