TAJBank has announced that it has successfully met the Central Bank of Nigeria’s (CBN) revised minimum capital requirement for national non-interest banks, positioning itself for stronger growth and wider customer reach.
The bank’s Managing Director/CEO, Hamid Joda, disclosed this during an investment summit in Abuja, noting that the achievement was made possible through the support of shareholders, investors, and the leadership of the board chaired by Alhaji Tanko Isiaku Gwamna.
“I am happy to report that TAJBank has fulfilled the mandatory recapitalisation requirement and is now fully prepared to deliver more customer-friendly and innovative services to our growing clientele nationwide,” Joda said.
He commended CBN Governor Olayemi Cardoso and his team for initiating the recapitalisation exercise, describing it as a reform that will strengthen Nigerian banks for global competitiveness.
Joda also assured stakeholders of the bank’s commitment to delivering value:
> “Our shareholders, investors, and customers remain at the centre of all we do. We shall continue to prioritise their interests while investing in technology, solutions, and human capital to deliver real-time, Shari’ah-compliant financial services that exceed expectations.”
In March 2024, the CBN mandated new capital thresholds for commercial banks, requiring institutions with international authorisation to raise capital to N500bn, national banks to N200bn, and regional banks to N50bn.
With this milestone, TAJBank joins the ranks of institutions fully aligned with the apex bank’s recapitalisation policy, which aims to ensure resilience, efficiency, and sustainability in Nigeria’s banking industry.
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