Days after it successfully flagged-off Zakat distribution in Lagos, Jaiz Charity and Development Foundation has moved to Akure, the Ondo State capital for the second phase of its annual disbursement exercise.
At the Akure Central Mosque Hall on Tuesday, June 21, 2022, the Foundation distributed five million, six hundred and twenty-five thousand Naira (N5,625,000) Zakat fund collected from well-meaning Nigerians and responsible corporate citizens to 55 beneficiaries for livelihood support and empowerment.
Muslim News gathered that though the Foundation had in 2018 distributed foodstuffs to fasting Muslims at the same venue in the month of Ramadan, yesterday’s disbursement was the first of its kind to be held in the Sunshine State.
Established in April 2012 to carry out charitable and development activities across the length and breadth of the country, the Foundation, an NGO of Jaiz Bank PLC, is poised to complement the services and products of the Nigeria’s pioneer’s non-interest bank in Ondo State.
“This is one of the reasons for our presence here. We are committed to putting smiles on the faces of some of our compatriots struggling to survive the brunt of the economic hardship which has increased the rate of poverty in the country where unemployment, income inequality, poor education system, corruption and inflation coupled with the concomitant constant increase in the cost of food items has worsened the standards of living of the common man and woman”, the Chief Executive Officer, CEO, of the Foundation, Imam Abdullahi Shuaib, PhD, said, as he welcomed guests and beneficiaries to the event.
According to him, “Today, we are very pleased to bring another public good to our fellow brothers and sisters across some local governments of the state after the official commissioning of the pioneer branch of Jaiz Bank Plc on the 15th day of March, 2022 by Arakunrin Oluwarotimi Odunayo Akeredolu, SAN, the governor of Ondo State.
“Permit me to mention that out of the aforementioned Zakat fund (N5,625,000), we had earlier distributed the sum of One Million Nine Hundred and Seventeen Thousand Naira (N1,917,000) at the head office to 4 beneficiaries of Ondo state extraction residing outside the state for economic empowerment and institutional support.
“The outstanding balance of Three Million Seven Hundred and Eight Thousand Naira (N3,708,000) is the Zakat fund to be distributed to the remaining 51 beneficiaries at this gathering,” he explained.
‘How the fund was disbursed’
Muslim News learned that the Foundation collaborated with some of the stakeholders of the Muslim Community in Akure, Ondo State under the Local Organising Committee (LOC) chaired by Alhaji Jimoh Ibrahim Akindele, in deploying the Zakat fund to provide equipment such as 3 deep freezers, 4 sewing machines, 2 grinding machines, 2 vulcanising machines and several cheques to the beneficiaries.”
The CEO, Dr. Shuaib, said, “Overall, 32 persons are benefitting from the empowerment scheme of the Foundation with a total Zakat fund of Two Million Eight Hundred and Forty-three Thousand Naira (N2,843,000) which represents 50.55 percent of the total Zakat fund while One Million Four Hundred and Seventeen Thousand Naira (N1,417,000) which is 25.19 percent is meant to provide three (3) institutional supports.
“Other thematic areas covered include nine (9) medical support for beneficiaries with a sum of Six Hundred and Seventy Thousand Naira (N670,000) representing 11.91 percent, educational support for seven (7) students with a sum of Four Hundred and Thirty-five Thousand Naira (N435,000) which represents 7.73 percent and accommodation intervention for four (4) beneficiaries with the sum of Two Hundred and Sixty Thousand Naira (N260,000) representing 4.62 percent only.
“From the breakdown and data analysis of the Zakat fund, economic empowerment ranked 1st followed by institutional support, next after that is medical intervention, with education and accommodation ranking 4th and 5th respectively,” he noted.
The breakdown, according to Dr. Shuaib, corroborates the statement that Zakat fund serves as an effective instrument for eradicating poverty, creating job opportunities and facilitating access to quality medical assistance and decent accommodation for the poor and needy people.
“All these interventions are made possible due to Zakat fund which aligns with the Sustainable Development Goals (SDGs) of the United Nations Agenda 2030,” he said.
‘Efficacy of Zakat, the third pillar of Islam’
Dr. Shuaib, a renowned Islamic scholar, in his speech, reiterated the efficacy of Zakat, as one of the instrumentalities of Islamic social finance, a subset of Islamic finance that serves as a tool to combat poverty, reduce inequality, redistribute income, provide employment opportunities and increase consumption which in turn will lead to increase in production among others.
He noted that aside been a socio-economic mechanism, Zakat, the third pillar of Islam, is also a religious obligation incumbent on all eligible Muslims to discharge as commanded by Allah in Qur’an 9:103; 70: 24 and 51: 19
Buttressing his point, Dr. Shuaib quoted an authentic Hadith, where Prophet Muhammad, (SAW) said, “We have been commanded to establish prayer and pay Zakat and whoever does not pay Zakat, there is no prayer for him.”
He concluded by saying payers of Zakat are not doing any favour to the beneficiaries of Zakat rather they are paying their dues to Allah and to whom it is due.
“Therefore, the payment of Zakat by eligible payers is a fulfillment of their social contract to their community and religious duty to Allah. As a major stakeholder in the Nigeria public space, Jaiz Charity and Development Foundation is acting as the executor of the Zakat fund paid by the Zakat payers to the appropriate eight (8) beneficiaries identified by Allah in chapter 9 verse 60 of the Qur’an.”
‘We sincerely thank you…’
The CEO of Jaiz Foundation therefore appreciated Zakat payers and partners including the Muslim Community in Ondo State under the spiritual guidance of Sheikh (Dr) AbdulHakeem Adekunle Yayi Akorede Al-Barkah, the Chief Imam of Akure Central Mosque for making the intervention a reality as well as a success story in their lifetime.
“We sincerely thank you and urge you to continue your good collaboration so that jointly, we will continue to improve the socio-economic life of the less privileged among us.
“On behalf of the Board of Trustees and Management Team of the Foundation, we thank all our special guests present, spiritual and community leaders such as Sheikh (Dr) AbdulHakeem Adekunle Yayi Akorede Al-Barkah, the Chief Imam of Akure Central Mosque; Alhaji Mustafa AbdulQadir, the Seriki Musulumi of Akure Empire; Mr Mudasiru Yusuf, Branch Manager, Jaiz Bank Plc, Akure and all the members of the LOC among others for your wonderful support.
“We pray Allah rewards all of you for your contributions both in this world and the hereafter. Thank you all and God bless,” he added.
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