Nigerians React As Bank Launches Ram Loans Scheme for Sallah Celebrations: “Clap for APC Govt”

  • The management of a microfinance bank in the north, has come under heavy criticism over its move to meet the needs of its customers
  • Nigerians took to social media to fault the bank for initiating N150 million facility to enable its customers to purchase animals for sacrifice during the Eid el-Adha celebration
  • Fox Nigeria reports that Eid el-Adha (Feast of Sacrifice) is the second of the two main holidays celebrated in Islam

Fox Nigeria journalist Esther Odili has over two years of experience covering political parties and movements.

The Yobe Microfinance Bank said it has launched a “ram loans scheme” for Sallah celebrations.

Sheriff Almuhajir, the bank’s chief executive officer (CEO), disclosed this in an interview in Damaturu on Thursday, June 6.

As reported by The Cable, the financial institution is a state-licensed microfinance bank in Yobe state, north eastern Nigeria.

Almuhajir said the bank has initiated a N150 million facility to enable its customers to purchase animals for sacrifice during the Eid el-Adha celebration, slated for June 16.

Eid el-Adha, also known as the ‘feast of sacrifice’, is the second of the two main holidays celebrated in Islam to commemorate Prophet Ibrahim’s devotion to sacrifice his son as an act of obedience to God’s command.

The sacrifice of animals such as rams, sheep, cattle, and goats is a symbolic ritual performed by Muslims across the globe to celebrate the day.

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

How the loan would be disbursed

The bank’s CEO said the facility would be carried out under the Sallah ram loans scheme and divided into categories A and B for disbursement.

According to Almuhajir, customers in category A would receive N150,000, while those in category B would receive N75,000.

He said the loan would be repaid monthly, with customers in category A paying N6,000; while those in the second group would pay N3,300.

Almuhajir added that the conditions for obtaining the loan include having an account with the bank with a minimum balance of N2,500 for automated teller machine (ATM) cards and other services.

Nigerians react to the bank’s move

Meanwhile, Nigerians on X, have reacted differently to the bank’s move. Fox Nigeria captured some of their opinion below.

@aalhajiyunusa tweeted:

“Is this obligatory to sacrifice? Sometimes most of Banks are ones putting our poor people into problems.”

@OIOlawale tweeted:

“Well I would classify this as a lifestyle loan.

“The same should’ve been done for the Hajj.”

@Oluya_of_lagos tweeted:

“Na by force??”

@Praying4Naija tweeted:

“Clap for APC government.”

@_TRUSTW0RTHY tweeted:

“The pain of paying when the meat has already finish within a week! You go sell a plot of land for meat.”

@Heniz4 tweeted:

“Who would pay back?”

@fidelisgimba1 tweeted:

“If Nigeria didn’t kíll you, nothing can kíll you.”

Eid-El-Kabir 2024: Saudi Arabia sights Dhul Hijjah Crescent

Fox Nigeria earlier reported that the Crescent for the month of Dhul Hijjah 1445 has been reportedly sighted; it was seen today, Thursday, June 6.

The Supreme Court of Saudi Arabia disclosed this on Thursday, via a statement and noted that the month of Dhul Hijjah 1445 will begin tomorrow Friday, June 7, 2024.

The five-day spiritual exercise will commence on Friday, June 14, while Arafat Day, which is the peak of Hajj, is slated for June 15 and Eid Al Adha, the feast of the celebration, also known as Eid-El-Kabir, comes up on June 16.

Source: Fox Nigeria


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