According to a statement by the bank, the challenge is part of the bank’s Corporate Social Responsibility aimed at spurring ideas and innovation on how to curb the effects of the Coronavirus pandemic.
He said, “I congratulate all those that participated in the competition. This is not the end of it. You are just beginning. I urge you to be consistent, persevere and steadfast and I am sure that with consistency, we will get another Dangote from the winners of today.
“I commend Jaiz Bank for making this sacrifice by providing this huge money to support the growth of the winners’ concepts. The federal government is proud of you. I hope these innovators would use the money judiciously.”
The Managing Director/CEO of Jaiz Bank, Hassan Usman, urged the winners to judiciously utilize the funds and ensure that it translates into the fulfilment of their aspirations as social enterprises with optimum impact to the society.
“We want to assure all that the social entrepreneurship innovation challenge shall be a continuous programme by the Bank (In shaa Allah). Our arms are open to entrepreneurs that genuinely want to grow their ideas as long as they have something that can add value to the society.”
NDA Ventilators won N50m; ShapShap won N40m; Reeddi Technologies Nigeria Ltd won N20m; and Data.tac Nigeria Limited won N15M. The prizes were awarded in the form of equity, non-interest financing.