The Yobe State governor, Hon Mai Mala Buni, has approved the sum of N200 million for the recapitalization of Yobe Microfinance Bank.
A statement issued by the Senior Special Assistant Digital and Strategic Communications, Yusuf Ali said the Managing Director of the bank, Dr. Sheriff Almuhajir made the disclosure saying the amount was meant to meet the one billion naira CBN recapitalization requirements.
Almuhajir who restated commitments of the bank towards meeting the recapitalization requirement by the first quarter of 2025 equally stated that the approval was meant to enable the bank to increase its lending capacity, provide more financial services, and support economic growth in the state.
He said, “The landmark decision is a testament to the Governor’s commitment to empowering entrepreneurs, small business owners, and low-income individuals in Yobe State.
“This is a significant step towards achieving financial inclusion and reducing poverty in our communities,” the MD said.
He commended Governor Mai Mala Buni for visionary leadership and unwavering support for the people of Yobe State.
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