Jigawa injects N1bn into state savings and loans firm
The Jigawa State Executive Council has approved a N1 billion recapitalisation for Jigawa Savings and Loans Limited. The announcement was made by Sagir Musa, Commissioner for Information, Youth, Sports and Culture, following the council’s first meeting of 2026 in Dutse. The move aims to strengthen the financial position of the state-owned institution and ensure it meets regulatory requirements set by the Central Bank of Nigeria. The recapitalisation is part of the Umar Namadi administration’s efforts to promote sustainable financial institutions in the state.
What we know
- The Jigawa State Executive Council approved N1 billion to recapitalise Jigawa Savings and Loans Limited.
- Sagir Musa announced the decision after the council’s first meeting of 2026 in Dutse.
- The recapitalisation aims to help the institution meet the Central Bank of Nigeria’s minimum capital requirements for Primary Mortgage Banks.
- The move is intended to safeguard depositors’ funds and improve access to affordable mortgage and housing finance for Jigawa residents.
- The initiative reflects the state government’s commitment to prudent financial management, institutional reforms, and regulatory compliance.
