Business
2020 AGM: Shareholders Laud Tajbank’s Board, Mgt Over Performance
….As Lender Records 471% Growth In Profit Before Tax
Joel Ajayi
Shareholders Of Tajbank Limited, Nigeria’s Leading Non-Interest Banking Products And Services Provider, Yesterday Commended The Board And Management Of The Bank For Its Impressive Performance In Its First Year Of Operations, Promising Continued Commitment To The Realisation Of The Vision And Mission Of The Innovation-Driven Lender In The Years Ahead.
During The Financial Year, The Bank Reported Outstanding Improvements In Its Gross Earnings, Which Rose From By 6,066% In The Financial Year To N3.456 Billion; 471% Growth In Profit Before Tax (PBT) ; Deposit Growth Rate Of 1,524%, Return On Equity Rose By 361% And An Exponential Growth In Customer Base From 1,809 To 103,853, Among Other Positive Performance Indices.
Speaking During A Post-AGM Interactive Session With Journalists At The Bank’s 2nd Annual General Meeting (AGM) Held In Abuja, One Of The Leading Shareholders Of The Bank, Alhaji Lawal Garba, Said The Shareholders Were “Very Happy With The Board And Management Of The Bank For The Impressive Performance Recorded During The Year, Particularly On The Innovation That They Have Brought Into Non-Interest Banking In Nigeria.

“We Are Also Very Impressed With Their Entrepreneurship Drive Which Has Impacted On The Way The Bank Is Growing And We Are All Very Impressed And Wish The Bank More Successful Years Ahead.
“Also, We Are Want To Encourage The Management To Continue With The Mandate They Have Been Given By Redoubling Their Efforts Towards The Full Realisation, Though The Efforts They Have Put In So Far Have Been Commendable. Overall, We Are Very Impressed With Their Superlative Performance”, Garba Added.
Earlier In His Address At The AGM, The Bank’s Chairman, Alhaji Tanko Isiaku Gwamna, Noted That The 2020 Financial Year Was A Remarkable Year For The Bank In Terms Of Investment, Market Penetration, Growth, Expansion And Strong Financial And Strategic Performance That Enabled The Bank To Position Itself As One Of Nigerian Growing Banks.
He Linked The Lender’s Superlative Performances To Exceptional Service Delivery, Robust Investments And Deployment Of Critical Technologies And Solutions And Responsive Operational System.
Alhaji Gwamna Restated The Bank’s Commitment To Value-Addition For All Its Shareholders And The Nigerian Financial System, Stressing That Tajbank’s Sustainability Is Guaranteed By The Expansive Value It Is Creating For Its Shareholders, Customers, Employees And All Stakeholders.
He Assured: “Our Commitment To The Creation Of Optimal Shareholders’ Value Remains Solid And Expansive.”
Noting The Increasing Roles Of The Social Media As An Indispensable Tool For Customer Relationship Management, Value Addition And Complaint Resolution, The Seasoned Non-Interest Banker Pointed Out That Tajbank Had Leveraged On Investments In Key Technologies To Improve Its Visibility On Facebook, Instagram, Linkedin, Google+ And Whatsapp.
Alhaji Gwamna Pointed Out That Although Tajbank’s Priority Was To Ensure Optimum Performance And Value Addition Across All Stakeholders, The Bank’s Medium And Long Term Target “Is To Be Among The Recipients Of Key Awards On Product And Service Innovation, Consistently Transparent Corporate Governance Practices And Service Excellence” Through The Utilization Of Its Creative Workforce And Excellent Management Team.
He Also Harped On The Bank’s Relentless Efforts To Upscale Its Corporate Social Responsibility (CSR) Activities In Line With Its Vision Of Funding Programmes And Projects That Promote Financial Inclusion, Economic Prosperity, Equal Access To Opportunities, Sustainable Development And Promote Global Prosperity In Its Host Communities And The Larger Nigerian Society.
Business
Turning Africa’s Raw Materials Into Wealth: The ARMS 2026 Industrial Agenda
By Joel Ajayi
For decades, Africa’s vast natural resources have powered industries and economies far beyond the continent, while many African countries have remained largely exporters of unprocessed commodities and importers of finished products.
That familiar pattern is now coming under renewed scrutiny as policymakers, researchers, investors and industrialists seek to change the direction of Africa’s resource economy.
At the centre of that conversation is the second edition of the Africa Raw Materials Summit (ARMS 2026), scheduled for October 19 and 20 at the Abuja Continental Hotel, Abuja, under the theme: “From African Feedstock to African Factories.”
Organised by the Raw Materials Research and Development Council (RMRDC), the summit is being positioned as more than another gathering of policymakers and industry stakeholders. It is intended to provide a platform for confronting the structural challenges that have kept African raw materials largely disconnected from local manufacturing.
Africa has for years operated largely within a “pit-to-port” economic model, exporting raw materials while importing expensive finished products.
Speaking at a press conference ahead of the summit on Tuesday in Abuja, the Director-General and Chief Executive Officer of RMRDC, Prof. Nnanyelugo Martin Ike-Muonso, said the event would bring together policymakers, investors, researchers, technology providers and industrialists to develop practical strategies for transforming Africa’s abundant natural resources into industrial wealth.
The challenge, therefore, is not simply the abundance of resources, but the continent’s ability to transform those resources into industrial value, employment, technology and wealth within Africa.
Nigeria alone, according to the RMRDC, has more than $582.4 billion in documented non-renewable natural resources, while the wider continent possesses substantial deposits of critical minerals, agricultural raw materials and industrial feedstock.
Yet, the benefits of this resource endowment have often been constrained by inadequate processing capacity, weak infrastructure, limited technology, financing gaps and fragmented regional value chains.
From Dialogue to Industrial Action
ARMS 2026 builds on the maiden edition held in May 2025, which attracted more than 1,000 delegates from across the world.
The inaugural summit also witnessed the unveiling of the Ten-Year Raw Materials Transformation Roadmap (2025–2034) by the Minister of State for Industry, Senator John Owen Enoh.
The roadmap was designed around areas including technological capability, climate-resilient processing and backward integration, establishing a policy framework for greater domestic utilisation of Africa’s raw materials.
The second edition is expected to move the conversation further by bringing policy, capital, technology and industrial stakeholders around practical mechanisms for turning raw materials into locally manufactured products.
One of the major proposals highlighted by the RMRDC is the 30 per cent Mandatory Value Addition Bill, which seeks to establish a statutory minimum level of value addition to Nigerian raw materials before export.
The Council says the proposed framework could support job creation, import substitution, foreign-exchange conservation and increased manufacturing contribution to the economy.
Building the Infrastructure for Value Addition
The industrial transformation envisaged by ARMS 2026 goes beyond legislation.
A major concern is the “missing middle” between where raw materials are produced and where factories are located.
Poor transportation networks, inadequate cold-chain facilities, weak rural roads, limited testing and certification infrastructure and border-related delays can make locally sourced materials more expensive and less competitive.
Consequently, logistics and infrastructure constitute one of the five principal pillars of the summit.
The objective is to develop more reliable corridors connecting farms and mines with processing centres and manufacturing facilities, thereby reducing losses and improving the movement of industrial inputs.
The Digital Dimension
Technology is also becoming an important part of the Council’s strategy.
The RMRDC says it has developed the Nigeria Integrated Information Statistical System for Raw Materials and Products (NISSRAMP), described as a digital repository containing information on feedstock deposits, specifications, production outputs and industrial absorption rates.
The Council has also highlighted its transition towards paperless operations and its certification as a Data Controller/Processor of Major Importance by the Nigeria Data Protection Commission.
Such digital infrastructure could provide investors and manufacturers with better information about the availability and characteristics of raw materials while supporting more informed industrial planning.
Turning Waste Into Industrial Inputs
Another major component of ARMS 2026 is the proposed expansion of the circular economy.
The summit will examine how agricultural by-products, mine tailings, scrap metals and biomass can be recovered and reused as inputs for new production processes rather than being treated simply as waste.
The RMRDC argues that such an approach could lower raw-material costs while supporting more sustainable and climate-resilient manufacturing systems.
For Africa, where industrial expansion must increasingly balance economic development with environmental considerations, waste industrialisation could become an important part of the continent’s manufacturing conversation.
From National Production to African Value Chains
The African Continental Free Trade Area is another important element of the summit’s agenda.
The RMRDC sees AfCFTA as an opportunity to create regional value chains in which raw materials sourced in one African country can be processed and supplied to manufacturers in another.
Under such a model, Africa would move beyond simply exporting commodities to external markets and develop stronger internal networks for supplying chemicals, refined minerals, agricultural inputs and other industrial materials across national borders.
This approach places regional integration at the heart of Africa’s industrialisation strategy.
Bridging Research and Capital
A recurring weakness in many developing economies is the gap between research and commercialisation.
Innovations may emerge from universities, research institutions and laboratories without receiving the financing, equipment or market connections required to become commercially viable.
ARMS 2026 intends to address that gap through technology commercialisation and capital linkages, connecting research outputs with investors, development finance institutions and industrial off-takers.
The RMRDC has also cited partnerships with the Bank of Industry for commercial-scale post-harvest processing and a South-South technology-transfer partnership with the National Innovation Centre par Excellence in Shanghai, China.
A Larger Industrial Conversation
The scale of ARMS 2026 is expected to be significantly larger than the maiden edition.
The organisers project more than 1,800 delegates from all 54 African countries and global industrial partners.
The programme will feature high-level policy dialogues, technical panels, an advanced raw materials and technology exhibition, industrial site visits and the African Raw Materials Industry Awards.
The exhibition, in particular, is expected to showcase locally fabricated processing machinery, advanced domestic materials, green chemicals and engineered commercial inputs.
Beyond the speeches and exhibitions, however, the real significance of ARMS 2026 will ultimately depend on what happens after the summit.
Africa’s challenge has never been a shortage of raw materials. The more difficult question has been how to transform those resources into factories, products, skilled employment, technology and sustainable economic opportunities.
For Nigeria and the rest of the continent, the proposed shift from “pit-to-port” to “feedstock-to-factory” therefore represents a broader debate about the future structure of African economies.
ARMS 2026 seeks to place that debate firmly on the industrial agenda — with value addition, technology, finance, infrastructure, circular production and regional trade at the centre.
If the commitments and partnerships generated by the summit translate into measurable industrial activity, the event could provide another platform for Africa to examine how its enormous resource base can support stronger domestic manufacturing.
The message from the organisers is clear: the continent’s raw materials should not only leave African soil as commodities; they should increasingly become the foundation for African industrial production
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