Jaiz Bank Plc on Tuesday confirmed that it secured a N3 billion financing facility from the Bank of Industry (BOI) to support its lending to Small and Medium Enterprises (MSMEs) in the country
The Managing Director of the bank, Hassan Usman, who disclosed this in Abuja said that assured that the fund would be disbursed to the targeted beneficiaries to grow their businesses and create wealth.
According to him, the funding support by the industrial development finance institution was fundamental to the vision and mission of Jaiz Bank in terms of wealth creation for MSMEs.
He said: “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.”
Earlier, the BOI’s Executive Director, Shekarau Omar, who presented the cheque, said that part of the reasons for providing the facility to Jaiz Bank was the BoI management’s belief that the fund would be disbursed to the target group.
Omar assured that BoI was ready to partner institutions that were ready to support and develop areas that needed support.
He projected that the facility would impact positively on the nation’s economy and advised the Jaiz Bank’s management of the readiness of BoI to provide more support if the facility is judiciously utilized.
