Managing Director of Yobe Microfinance Bank , Dr. Sheriff Muhammad Ibrahim has announced a Sallah Ram Loan program to assist customers during the upcoming Eid al-Kabir celebrations.
In his statement a total of ₦150,000,000 (One Hundred and Fifty Million Naira) has been allocated for this initiative.
The loan scheme specifically targets civil servants employed by Yobe State and its Local Government Areas (LGAs).
It aims to provide financial assistance for purchasing rams during the festive period.
The loan, however, has categories, and each of them has an amount
Category A: ₦150,000
Category B: ₦75,000
Applicants must hold a Yobe Microfinance Bank account with a minimum balance of ₦2,500 to cover ATM and other service charges.
Applicants must obtain a loan application form from the bank branch for a fee of ₦1,000.
Applicants must be currently employed by Yobe State Government or a Local Government Area within Yobe State.
Applicants must provide Know Your Customer (KYC) documents, including two passport photographs, National Identification Number (NIN), and a payment slip (details not specified).
There are also charges for each of the categories.
Category A: ₦6,600 monthly
Category B: ₦3,300 monthly
Repayment
The loan repayment period is five months.
Sheriff encourages media outlets to share this information with the public.
He also urge interested people to contact Yobe Microfinance Bank directly For further inquiries.
