Jaiz Bank’s Chairman Vows to Spend Any Amount to Keep Bank Flourishing

In a recent foundation-laying ceremony for Jaiz Bank’s new branch office in Maiduguri, Borno state, the Bank’s non-Executive Director and major shareholder, Muhammadu Indimi, made a bold statement, vowing to spend any amount of money to keep the Bank flourishing.

Mr. Indimi, a business mogul and Chairman of Oriental Energy Resources Ltd, celebrated his 77th birthday anniversary at the same event. He stated that he would continue to invest in the growth of the Bank, with the goal of leaving a lasting legacy for the state and the country.

“I am trying to see that I leave a good legacy for my people and one of the legacies is the growth of this Bank. We travelled all over the world to understand the operations of non-interest module before the Bank was birthed and I am ready to spend anything to see the Bank prosper,” Mr. Indimi said.

The Bank’s Board Chairman, Mohammed Mustapha Bintube, also spoke at the event, highlighting the significant improvement in the Bank’s performance since the recruitment of a new MD/CEO and Executive Directors. He emphasized the Bank’s focus on financing the real sectors of the economy, specifically agriculture, manufacturing, and general commerce.

Meanwhile, the Managing Director and Chief Executive Officer of Jaiz Bank, Haruna Musa, expressed the Bank’s commitment to supporting the people of Borno state through various business activities. He highlighted the Bank’s Islamic banking principle, which encourages profit and loss sharing between parties in business.

“We believe our presence will be beneficial to the people of Borno State, because we are going to support the communities immensely. Any business person can walk into any of our branches and pick an account opening form. Our operation is based on profit and loss sharing formula which is an Islamic banking principle that allows parties in business to win together and lose together,” Mr. Haruna said.

The Bank’s expansion into Borno state is seen as a strategic move to harness the region’s economic potential and contribute to sustainable economic recovery in the North-East.