BY NEWS EDITOR, JANUARY 26, 2026 | 12:23 | 12:23 PM
Borno State Governor, Babagana Umara Zulum, has unveiled Rayyan Microfinance Bank, a Shariah-compliant digital bank offering non-interest financing, in Maiduguri.
The bank, headquartered in the state capital, aims to provide comprehensive banking solutions to individuals and businesses, promoting financial inclusion and economic growth.
At the unveiling ceremony, Gov. Zulum emphasized the bank's role in building resilience and fostering self-reliance among Borno residents, particularly those affected by years of insurgency.
'Microfinance banks are crucial for driving financial inclusion, reducing poverty, and promoting economic growth,' Gov. Zulum said, highlighting the bank's potential to provide accessible financial services to low-income individuals.
The governor directed the state ministry of finance to open an account with Rayyan Microfinance Bank, demonstrating the state's confidence in the institution.
Residents, cooperatives, and business owners were urged to utilize the bank's services to grow their businesses and contribute to the state's economic resurgence.
The event featured lectures by academics and stakeholders, highlighting non-interest banking's potential to promote ethical investments and inclusive growth.