Business
TAJBank Marks 5 Yrs Of Ethical Banking Prosperity
…Rewards Loyal Staff, Lauds Customers For Loyalty
The Board and management of TAJBank Limited, Nigeria’s leading non-interest bank, have marked the 5th Year Anniversary of the ethical banking prosperity and commended its growing customers for the remarkable achievements recorded by the fastest growing non-interest lender for their patronage and confidence in the quality of its products and services.
L-R: Co-Founder/Executive Director of TAJBank Ltd, Mr. Sherif Idi; a Director of the bank, Alhaji Tata S. Umar; and TAJBank’s Founder/CEO, Mr. Hamid Joda, in joyous mood during the bank’s 5Th Anniversary event held at the Dunes Event Center, Maitama-Abuja on Monday
Speaking to journalists at the bank’s 5th Year Anniversary event held on Monday in Abuja, TAJBank’s Founder/Chief Executive Officer, Mr. Hamid Joda, restated the board and management’s commitment to offering improved techno-powered products and services to the bank’s customers for the purposes of adding value to their businesses and lives in the years ahead.
He described the customers as valued partners whose interests shall consistently be promoted in line with the non-interest lender’s corporate slogan that its only interest is in the customers.
The foremost non-interest banker explained that to ensure this, the management would continue to invest in critical assets, including financial technology (fintech), to enhance service delivery to the customers and strongly position them at the leading edge of market competition in their business sectors.
On the bank’s plans for the customers in the future, Joda assured: “Well, the customers should be looking at ease of doing business which is our cardinal objective and principle in TAJBank. When we came into the market, our disruptive strategy was IT because the industry has changed fundamentally and we made significant investment in financial technology so as to ease operations for customers and that is what we will continue to do in the years ahead.
“Our customers should expect that TAJBank will continue to be ahead in delivering efficient services to them in the years ahead”, he added
Commenting on the bank’s human capital development strategy, the Co-Founder/Executive Director, Mr. Sherif Idi, maintained that TAJBank’s board and management believed that the employees are the biggest asset and the heartbeat of the bank, who should be constantly invested in to achieve the vision of transforming TAJBank into one of the 20 biggest banks in the country within the next few years.
He explained: “So, we shall continue to invest in human capital development and we will do our best to ensure that they have the best training they can get in the non-interest banking space. Why we are doing that is because we aspire to be among the first top 20 banks by the year 2029 and you know that when you have that type of aspiration, you have to hugely invest first, in human resources; and secondly, in technology.”
Earlier in his remarks, one of the Directors of the bank, Alhaji Tata S. Umar, said that the remarkable achievements of TAJBank in the last five years of its operations were due to the quality of the board and management and strong corporate governance and strong strategies adopted that helped the bank in navigating through the micro and macroeconomic environment of this country.
The Director clarified: “As you are aware, today marks the 5th year of our existence. It has not been easy starting from a small project room to a big bank with branches now all over the country. I think the board has done well and the executive management has done very well also and that is why TAJBank today is Nigeria’s leading non-interest bank.”
In appreciation of their contributions to the bank’s growth, the management presented Long Service Awards to several employees and gifts to other non-staff people amid jubilation of scores of workers, who commended the management for the kind gesture and its recognition of employees’ hard work, and corporate governance etiquette.
Business
RMAFC Unveils New Data Rendition Template For Solid Minerals
Joel Ajayi
The Revenue Mobilization Allocation and Fiscal Commission, in conjunction with the Federal Ministry of Solid Minerals Development, has introduced a new solid minerals data rendition template for effective monitoring of revenue from the solid mineral sector in Nigeria.
Speaking during a one day sensitisation exercise on the implementation of the new template on Tuesday in Abuja, Chairman of the Commission Dr. Muhammed Bello Shehu OFR who was represented by the Chairman of the Solid Minerals Monitoring Committee of RMAFC at the occassion reiterated the Commission’s commitment to promoting the diversification of the Nation’s revenue sources in line with the Renewed Hope Agenda of President Bola Ahmed Tinubu GCFR, which aims to harness the country’s revenue potentials from other key sectors of the economy such as solid minerals, tourism, manufacturing and the blue economy.
The Chairman who underscored the importance of the new template said, “The implementation of the new data rendition template could not have come at a better time, given the current economic realities the country is facing.
The need to diversify our national revenue sources cannot be overemphasized, especially considering the nation’s over-dependence on hydrocarbon revenues, which are often affected by fluctuations in the international oil market, as well as challenges such as crude oil theft and vandalism.”
Dr. Shehu disclosed that, in line with its constitutional mandate as enshrined in the 1999 Constitution of the Federal Republic of Nigeria (as amended), the Commission had conducted two nationwide solid mineral revenue monitoring exercises in 2016 and 2022 aimed at boosting revenue generation from the mining sector. He added that the exercises had considerably improved the level of revenue generation from the sector.
He, however, lamented that despite the growing scale of activities in the country’s mining sector, only a negligible amount was being remitted to the Federation Account. This, according to him, was largely due to inadequate and ineffective monitoring of mining operations.
He therefore emphasized his determination to make sure that the Commission under his leadership work assiduously to ensure that all revenues due to the Federation Account from the mining sector were fully and promptly remitted into the Federation Account.
The new data rendition template, he explained, was designed to capture and manage relevant information such as the quantity of minerals produced, details of producing companies and their locations, as well as licenses, fees, and permits paid by mining companies.
The Chairman assured that the proper utilization of this data rendition template will enhance transparency and accountability by ensuring that mining operations and revenues are effectively tracked and managed.
In his remarks, Hon. Ibrahim Shettima, Chairman, Solid Minerals Monitoring Committee and Federal Commissioner representing Niger State in the Commission stated that the event was organized to bridge identified gaps to engender the timely and accurate rendition of revenue data on a state-by-state basis by relevant government agencies and operators in the solid minerals sector.
Speaking further, Hon. Shettima explained that the exercise aimed to establish an independent, reliable data platform for the Commission and serve as a credible source for comparison and policy decision-making.
Other stakeholders such as Director Mining Inspectorate, Federal Ministry of Solid Minerals,Engineer Imam Ganiu, D.G Mining Cadestre Office, Engr. Obadiah Nkom and the President of the Miners Association of Nigeria Mr. Segun Ayanleke acknowledged that Nigeria has the potential to be a key player in the global mining industry if the sector is efficiently and effectively managed. They, therefore, called for proper implementation of policies around the sector so as to achieve optimal results. They also advocate for stronger synergy between government and private stakeholders in the sector.
The high point of the event was the presentation of papers by resource persons on the general overview of the global and nigerian mining sectors, assessment of revenue contribution using data rendition, overview of the functions and activities of the Federal Ministry of Solid Minerals Development (FMSMD) as a major economic driver and the functions and activities of the Mining Cadastre Office (MCO).
Papers were also presented on the role and experience of the Miners Association of Nigeria and the new data rendition template as a requirement for accurate and Timely Data Reporting in the Solid Minerals Sector.
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