Dutse, Jan. 23, 2026 (NAN) The Jigawa Executive Council has approved the recapitalisation of the state-owned Savings and Loans Limited by injecting N1 billion into the financial institution.
Mr Sagir Musa, the Commissioner for Information, Youth, Sports and Culture, made this known while briefing newsmen on the outcome of the first 2026 state executive council meeting held in Dutse on Friday.
He said the effort was to strengthen the financial state of the institution and enable it meet the minimum capital requirement prescribed by the Central Bank of Nigeria (CBN), for Primary Mortgage Banks.
“The recapitalisation underscores the commitment of Gov. Umar Namadi-led administration towards ensuring the sustainability of the state-owned financial institutions.
“The move will safeguard depositors’ funds and enhance access to affordable mortgage and housing finances, for the people of Jigawa,” the commissioner revealed.
The council’s approval according to Musa, is in compliance with the CBN’s regulatory framework, to maintain a sustainable operation of the “Jigawa State Savings and Loans Limited” and enhance its capacity to effectively contribute to housing development.
He reaffirmed the state council’s resolve, to promote prudent financial management, institutional reform, and regulatory compliance across all state-owned enterprises, to ensure efficiency, transparency and long-term viability. (NAN)(
