Yobe Microfinance Bank has launched a ₦60 million Barka da Sallah loan scheme for local government workers to help them manage expenses during the upcoming Sallah celebrations.
The initiative is targeted at employees in Fune, Nguru, and Yunusari Local Government Areas, representing the three geopolitical zones of Yobe State. The bank said the programme is part of efforts to ease financial pressure on workers during the festive period while strengthening financial inclusion in local communities.
Under the scheme, eligible staff can borrow between ₦50,000 and ₦300,000, depending on the loan category. Repayment periods range from six to twelve months, making it easier for workers to spread their repayment over time.
The bank explained that the loan will be interest-free, allowing beneficiaries to access short-term financial support without the burden of high lending charges often associated with commercial loans.
According to the bank, the initiative was designed specifically to support workers during the festive season.
“This Barka da Sallah loan is meant to support local government staff so they can comfortably handle Sallah-related expenses without financial strain,” the bank stated.
However, officials noted that workers whose salaries are not domiciled with Yobe Microfinance Bank will pay a small monthly administrative and direct debit charge ranging between ₦1,500 and ₦3,000, depending on the loan amount and repayment duration.
Applications for the loan are being coordinated through the National Union of Local Government Employees (NULGE) in the participating local government areas.
