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BOI Releases N3bn To Jaiz Bank

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6 years ago

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The Bank of Industry (BOI) has released N3 billion to Jaiz Bank Plc for development and expansion of Micro, Small and Medium Enterprises (MSMEs) in Nigeria.
The N3 billion is to be spread among small entrepreneurs round the country, and to empower small business operators to grow their businesses.
The Executive Director, BOI, Mr. Shekarau Omar assured that the bank was ready to partner with institution that were ready to support and develop areas that needed support.
According to Omar, the N3 billion will help Nigeria businesses grow, execute a lot and even come for more if need be.
BOI is already in partnership with 16 different financial institutions and so far has disbursed N3.8 billion to these institutions.
“With this N3 billion disbursed to Jaiz Bank and other disbursement done, it has risen to N6 billion, we hope to disburse another N5.3billion to them between now and end of this quarter.
“Soon, BOI disbursement portfolio is expected to move from N6.8billion to about N12 billion at the end of the day”
He stated that the whole idea is how best BOI serves those that require this kind of financial services that are unable to get it as easy as they are suppose to get.
“The small scale businesses are the ones that boost the economy, they are the ones that will help the system but unfortunately, they have no means of getting funds and therefore, what we do is that we now work for financial institutions that will help the rich which is not suppose to be.
He stated that the meeting with Jaiz Bank was a confirmation of what BOI was used to because, it considered which financial institution that were ready to help without thinking of how much interest it was looking at.
He encouraged Jaiz Bank to come forward for another tranche of disbursement soon as it succeeded in properly managing the N3 billion.
The Managing Director, Jaiz Bank, Mr. Hassan Usman , assured BOI that the fund would be disbursed to targeted beneficiaries and noted that the fundamental reason for the creation of Jaiz Bank was to create wealth through the MSMEs.
He said pilot programmes were already going on with financial inclusion drive.
“We are also going to use agency banking to reach those in the rural areas where we cannot be physically present. Women are one of our major priorities which we have decided to provide financing for.”

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Kenyan Runners Dominate Berlin Marathons

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1 day ago

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September 22, 2025

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Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.

Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.

The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.

Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.

“I did my best and I am happy for this performance,” said Sawe.

“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”

Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.

In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.

Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.

Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.

 

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NIS Ends Decentralised Passport Production After 62 Years

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1 day ago

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September 22, 2025

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The Nigeria Immigration Service (NIS) has officially ended passport production at multiple centres, transitioning to a single, centralised system for the first time in 62 years.
Minister of Interior, Dr Olubunmi Tunji-Ojo, made the disclosure during an inspection of the Nigeria’s new Centralised Passport Personalisation Centre at the NIS Headquarters in Abuja, last Thursday.
He stated that since the establishment of NIS in 1963, Nigeria had never operated a central passport production centre, until now, marking a major reform milestone.
“The project is 100 per cent ready. Nigeria can now be more productive and efficient in delivering passport services,” Tunji-Ojo said.
He explained that old machines could only produce 250 to 300 passports daily, but the new system had a capacity of 4,500 to 5,000 passports every day.
“With this, NIS can now meet daily demands within just four to five hours of operation,” he added, describing it as a game-changer for passport processing in Nigeria.
“We promised two-week delivery, and we’re now pushing for one week.
“Automation and optimisation are crucial for keeping this promise to Nigerians,” the minister said.
He noted that centralisation, in line with global standards, would improve uniformity and enhance the overall integrity of Nigerian travel documents worldwide.
Tunji-Ojo described the development as a step toward bringing services closer to Nigerians while driving a culture of efficiency and total passport system reform.
According to him, the centralised production system aligns with President Bola Tinubu’s reform agenda, boosting NIS capacity and changing the narrative for improved service delivery.
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FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year 

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1 day ago

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September 22, 2025

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The National Information Technology Development Agency (NITDA) has announced plans to roll out Digital Public Infrastructure (DPI) and the Nigerian Data Exchange (NGDX) platforms across key sectors of the economy, starting in early 2026.
Director of E-Government and Digital Economy at NITDA, Dr. Salisu Kaka, made the disclosure in Abuja during a stakeholder review session of the DPI and NGDX drafts at the Digital Public Infrastructure Live Event.
The forum, themed “Advancing Nigeria’s Digital Public Infrastructure through Standards, Data Exchange and e-Government Transformation,” brought together regulators, state governments, and private sector stakeholders to harmonise inputs for building inclusive, secure, and interoperable systems for governance and service delivery.
According to Kaka, Nigeria already has several foundational elements in place, including national identity systems and digital payment platforms.
What remains is the establishment of the data exchange framework, which he said would be finalised by the end of 2025.
“Before the end of this year and by next year we will be fully ready with the foundational element, and we start dropping the use cases across sectors,” Kaka explained.
He stressed that the federal government recognises the autonomy of states urging them to align with national standards.
“If the states can model and reflect what happens at the national level, then we can have a 360-degree view of the whole data exchange across the country and drive all-of-government processes,” he added.
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