The Central Bank of Nigeria has granted license to the first
Islamic Bank in Nigeria, Jaiz Bank to operate on a nationwide banking.
The approval was
announced by the Chairman of the Bank, Umaru Mutallab at a meeting with the
President-General of the Nigerian National Supreme Council for Islamic Affairs
and Sultan of Sokoto, Alhaji Muhammadu Saad Abubakar IV, in Abuja on Monday May
16th.
“As a regional bank, Jaiz has operated in 12 states (in
Northern Nigeria) but with the new licence we can now spread to all parts of
the country. We will open branches in the 36 states of the federation" he
said.
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