First Islamic bank in Nigeria begins operation.

Nigeria’s first Islamic banking institution, Jaiz Bank, has been granted license to operate as a national bank.

Alhaji Umar Abdul-Mutallab, father of Christmas Day underwear bomber, Farouk Abdul-Mutallab, has been unveiled as the Chairman of the bank board of directors.

Alhaji Umar Abdul-Muttalab, speaking at a meeting in Abuja, said that the bank plans to spread its branches across the 36 states of the federation and the Federal Capital Territory in the next months.

The meeting was organised to fashion out ways of making the bank function better in the days ahead.
Part of the plan, according to officials of the bank, is to improve on its services through its various arms and with the feat just achieved, they promised a better deal for Nigerians willing to bank with them.

Alhaji Abdul-Mutallab announced series of measures taken by the bank, especially through its subsidiaries, in contributing their quota to the nation’s development.

In his response, the Sultan of Sokoto, Dr. Saad Abubakar, applauded the management of the bank for a job well done over the years. He also promised to collaborate closely with the bank.

Established over three years ago with 25 branches in some parts of the country, officials of the bank promise to achieve more using its national license.

They also want Nigerians to look forward to non-interest banking at its best in the days ahead.

Alhaji Abdul-Mutallab son, Farouk, was convicted for the “Christmas Day bombing attempt.

Umar Farouk Abdulmutallab, 23, concealed plastic explosives in his underwear but failed to detonate them properly. A Dutch passenger, Jasper Schuringa, tackled and restrained him and put out the fire with the aid of others.

Abdulmutallab was then handcuffed while the pilot safely landed the plane.

In all, three people were injured: Abdulmutallab, Schuringa, and one other passenger. Upon landing in Detroit, Abdulmutallab was arrested and taken to a hospital for treatment of his burns.

On December 28, 2009, al-Qaeda in the Arabian Peninsula (AQAP) claimed responsibility for the attempted bombing.

On January 6, 2010, a federal grand jury indicted Abdulmutallab on six criminal charges, including attempted use of a weapon of mass destruction and attempted murder.