CBN grants license to Nigeria’s first Islamic bank, Jaiz Bank

The Central Bank of Nigeria has granted license to the first Islamic Bank in Nigeria, Jaiz Bank to operate nationally. 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