Unfortunately, as an AI language model, I do not have access to the annual report of Zakat Foundation™ Nigeria for the year 2005. However, I can provide some general information about Zakat and the importance of transparency in annual reports.
Zakat is a form of obligatory charity in Islam. Muslims who are able to do so are required to give a certain percentage of their wealth to those in need. The funds collected through Zakat are distributed to a variety of causes, including helping the poor, feeding the hungry, providing healthcare, and supporting education.
The Zakat Foundation™ Nigeria is an organization that works to collect and distribute Zakat funds in Nigeria. They aim to provide a wide range of services to those in need, including food assistance, healthcare, education, and social welfare.
One of the key aspects of any charitable organization is transparency. Donors want to know how their money is being used and how effective the organization is at achieving its goals. Annual reports are an important tool for providing this information.
In an annual report, an organization should provide a detailed breakdown of its financial statements, including revenue, expenses, and any investments or assets. They should also provide information about the programs and services they offer, as well as any accomplishments or challenges they faced during the year.
Transparency is particularly important in the charity sector, where there have been cases of fraud and misuse of funds. By providing clear and detailed information in their annual reports, organizations can demonstrate their commitment to accountability and help to build trust with donors.
In summary, the Zakat Foundation™ Nigeria plays an important role in collecting and distributing Zakat funds to those in need in Nigeria. Annual reports are a crucial tool for demonstrating transparency and accountability to donors and the wider community. While I do not have access to the specific report for the year 2005, I encourage those interested to seek out and review the organization's most recent annual reports to better understand their work and impact.