Though Saudi Arabia may be forced to cancel the pilgrimage to Mecca in July due to the coronavirus pandemic, this has not stopped the public body in charge of organising the pilgrimage, the National Hajj Commission of Nigeria (NAHCON), from encouraging would-be pilgrims since April to pay their contributions to the hadaya, the sacrifice of a sheep during the hajj. Jaiz Bank, the Islamic bank of the billionaire Umaru Mutallab, has established itself as the sole partner of the government and NAHCON for the receipt of these payments, having entered into a partnership in 2017 in order to avoid informal payment circuits and scams. The 80-year old Mutallab, who is the founder, chairman and principal individual shareholder (with a 13.58% stake), has ensured himself a comfortable retirement thanks to Jaiz Bank. He set up the establishment in 2003 after an illustrious career in politics and banking. Minister for economic development under General Murtala Mohammed (1975-1976) and then for cooperatives and supplies under Olusegun Obasanjo (1976-1978), he was also the managing director of United Bank for Africa (1980-1988) and chairman of First Bank of Nigeria (1999-2009).
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