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Eid el-Adha: Yobe microfinance bank unveils N150m ram loan

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Eid el-Adha: Yobe microfinance bank unveils N150m ram loan

Yobe Microfinance Bank says it has initiated a N150 million facility to enable its customers purchase animals for sacrifice during the Eid el-Adha celebration.

Dr Sheriff Almuhajir, the Managing Director/Chief Executive Officer (CEO) of the bank, stated this in an interview with the News Agency of Nigeria (NAN), on Thursday in Damaturu.

Eid el-Adha: Yobe microfinance bank unveils N150m ram loan

Eid el-Adha (Feast of Sacrifice) is the second of the two main holidays celebrated in Islam.

It’s being observed on the 10th day of Dhul Hijja (the 12th month of Islamic Calender), to commemorate Prophet Ibrahim’s (Abraham) devotion to sacrifice his son as an act of obedience to God’s command.

Muslim faithful across the globe celebrate the day by animal sacrifice such as ram, sheep, cattle and goat.

According to Almuhajir, the facility will be implemented under its Sallah Ram Loans scheme, adding that it would be disburse into category A & B, with customers on category A accessing N150,000 while N75,000 for those on category B.

He said the loan would be repaid through monthly repayment of N6,000 for customers on category A and N3,300 for those on category B.

Almuhajir listed the conditions for accessing the loan to include having an account with the bank with a minimum balance of N2,500 for ATM cards and other services.

He said the applicant must obtain form from the banking hall at N1,000, and must be a civil servant on the payroll of the state or local government councils of the state.

Other requirements, he said, include two passport photographs, NIN number, payment slip and other relevant documents.

The gesture, he said, was to support individuals and families who might not be able to instantly purchase ram for the festivities.

“This loan scheme is designed to support civil servants in Yobe, especially those working with state and local councils during the festive season”.

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