Business

Introduction of E-Naira will stimulate the economy, CSOs Applaud FG, CBN

Published

4 years ago

September 22, 2021

… Demand arrest of BDC Operators
Tolu Akinsiku

Members of All Civil Society Groups led by Coalition of Civil Society Groups, on Monday, revealed that introduction of E-Naira will no doubt be a boost to the stimulation of economic activities in the country.

To this end, the group thumbed President Muhammadu Buhari and CBN Governor, Mr Godwin Emefiele, towards ensuring that Nigeria’s economy continue to survive despite the unstable low price of crude oil in the international market, Covid-19 pandemic and the multifaceted insecurity challenges facing the country.

Coalition of CSOs stated this on Wednesday, in Abuja, in a mega solidarity rally held at the popular Unity fountain in support of President Buhari and CBN Governor Emefiele in their effort to stabilize Nigeria’s economy.

While addressing the Journalists at the rally, the President of CSO, Etuk Bassey Williams, called for more support to the leadership of the country and the leadership of the CBN.

He said: “We applaud the CBN’s introduction of E-naira, we are confident that this policy will stimulate economic activities that will result into job and wealth creation.

” We hereby call on the Governor to suspend the activities of the BDC operators in totality and supply money to the commercial Banks.

“We also demand that a monitoring Committee that comprises of EFCC, CBN and NFIU be set up to check and arrest BDC operators who go to the banks to buy off the dollar using fake application.”

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Business

TAJBank Emerges Nigeria’s Biggest Non-Interest Bank

Published

2 weeks ago

October 23, 2025

The Gleamer

Cyril Ogar

After five years of operations in Nigeria’s rapidly evolving non-interest banking (NIB) space, TAJBank Limited has become the biggest player in the NIB subsector based on its total assets and gross earnings values.

Disclosing this during his paper presentation on the key performance indices in the non-interest banking space over the past few years at a seminar organized by Leaders Corporate Services with the theme “Roles of Non-Interest Banks In SMEs’ Financing” for SME entrepreneurs yesterday in Abuja, an investment expert, Mr. Olabode Akeredolu-Ale, maintained that based on the non-interest banks’ approved financial statements for the half year 2025, TAJBank currently remained the biggest in terms of its total assets.

The expert, a chartered stockbroker, specifically confirmed that his recent investment researches on the NIBs and their financial performances showed that TAJBank, with its total assets rising to N1.017 trillion in half year 2025 up from N953.098 billion as of December 2024, which is about N53 billion higher than the nearest NIB’s assets, now ranked top in the banking subsector.

According to him, TAJBank’s gross earnings for H1 2025 also surged to N53.752 billion from N32.86 billion as of December 2024, representing a 64% growth, and higher than the nearest NIB’s gross earnings in the period under review.

This is even as he disclosed that on the NIBs’ earnings per share during the half year, TAJBank reported N61.36 kobo earnings per share, about 92% higher than the earnings per share of the next NIB during the period.

Akeredolu-Ale, who is also a chartered accountant, clarified: “The figures I am reeling out here on the NIBs are sourced from the banking and capital market regulatory institutions’ platforms, which anyone can access to verify.

“I am part of this event because of my research interest in non-interest banking and how the players in the subsector in Nigeria can help to leverage their competencies in innovation and ethical banking to support our MSMEs.

“Today, the MSMEs cannot access DMBs’ loans due to high lending rates and other inclement macroeconomic factors. This is where I think the NIBs have become very crucial to Nigeria’s economic growth.

“Overall, my findings on the NIBs indicated that they are all trying their best with non-interest loans to support entrepreneurs, particularly the MSMEs owners. I have advised those of them at this seminar to explore the cost-friendly financing options of the NIBs to grow their businesses by opening accounts with the NIBs”, the expert added.

Another speaker at the event, Benjamin Chukwudi, also commended the NIBs for their “catalytic roles in helping SMEs to access interest-free loans and providing them the needed financial management advisory, which have been helping them in sustaining their operations in the face of rising cost of doing business in the country.”

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