Governor Ortom Launches Savings Scheme In Benue For Hajj Programme

The Hajj Savings Scheme which aims to give all Muslims equal treatment and to help them achieve one of the tenets of the religion is a product of the National Hajj Commission of Nigeria (NAHCON) in collaboration with Jaiz Bank Plc to make it easier for all Muslims to travel to Saudi Arabia to perform Hajj.

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Holy pilgrimage to Mecca at least once in a lifetime to perform hajj is one of the demands of the Islamic faith and Muslim looks towards its fulfilment. However, the state of the Nigerian economy which has now been worsened by the Covid-19 pandemic has made it difficult for many to achieve.

Speaking during the launch and sensitisation of the scheme in Makurdi, the governor, represented by Amirul Hajj, Sule Audu said his administration is committed to providing equal opportunity to all religions in Benue.

He said: “I will like to assure the Muslim Community in Benue State and NAHCON that the Benue State government will not relent in her efforts to see Muslims in the state enjoy equal right like other state indigenes and to participate in both national and international Islamic events.

The governor said that since Hajj is a mandatory religious duty for Muslims that must be carried out at least once in their lifetime, the HSS will assist “low income earners and the general public to make an installmental or gradual saving at their convenience, towards meeting their goal of going on Hajj.”

The governor requested Jaiz Bank to open a branch in Benue State for the people of the state to benefit from non-interest banking.

The Managing Director of Jaiz Bank Plc, Hassan Usman said as the Scheme grows over time, NAHCON and the various State Muslim Pilgrims Welfare Boards can have the liquid funds required to effectively plan hajj operations early, thereby securing better bargain for accommodation and other services for their pilgrims. The scheme can also be the key to making them highly self-sustaining in the long run.

The Chairman and Chief Executive Officer of National Hajj Commission of Nigeria, Zikirullah Kunle Hassan said the scheme is part of the reforms to make hajj operations in tandem with the global best practice.

He said under the Hajj Savings Scheme, subscribers can get reward of their intentions before actualising the journey, saying every Muslim can participate and will have the opportunity to perform the holy pilgrimage without having to sell off his or her assets.



DMO Opens Two New 2021 FGN Savings Bonds For Subscription.

The nation’s debt office, the Debt Management Office (DMO) has offered for subscription, two new Federal Government of Nigeria’s savings bonds at N1,000 per unit.

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The bond opens today 6th April 2021 and closes on 9th April 9th, 2021 and the DMO says one of the bonds is a 2-year savings bond due on April 14, 2023, at an interest rate of 5.522 per cent per annum, while the other is a 3-year FGN Savings Bond due April 14, 2024, at 6.522 per cent per annum
Each of the saving bonds is opened at N1,000 per unit, with a minimum subscription of N5,000 in multiples of N1,000 thereafter and subject to a maximum of N50 Million.
It also disclosed that the Settlement Date is fixed on April 14, 2021, and the Coupon Payment Dates are July 14, October 14, January 14, and April 14.

“The bonds qualify as securities in which trustees can invest under the Trustee Investment Act. It is backed by the full faith and credit of the Federal Government of Nigeria and charged upon the general assets of Nigeria,’’ DMO explained.

The DMO urged interested investors to contact the stock-broking firms appointed as distribution agents by the DMO.

The Debt Management Office (DMO) had also on March 18th 2021 listed its third Sovereign Sukuk “N162.557 Billion 7- year 11.20 percent Al Ijarah Sovereign Sukuk that is due 2027” on The Nigerian Stock Exchange and the FMDQ Securities Exchange.

The Sukuk which at the time of issuance was massively subscribed to the tune of N669.124 Billion or 446 percent, was issued to finance 44 economic road projects across the six (6)-geopolitical zones. With the listing, investors who are already holding the SUKUK can trade them while new investors have an opportunity to buy the SUKUK in the secondary market.