Business

TAJBank Meets and Exceeds CBN’s Capital Mandate – CEO

Published

5 days ago

September 26, 2025

…Lauds CBN On Regulatory Policy Initiatives

Cyril Ogar

TAJBank, Nigeria’s fastest growing non-interest banks, has met the Central Bank of Nigeria’s (CBN’s) new minimum capital requirement for national non-interest banks.

The Managing Director/CEO of the bank, Mr. Hamid Joda, confirmed the capitalization feat during his interactive chat with journalists on the sidelines of an investment summit in Abuja.

With the compliance with the required minimum capital base as directed by the CBN, TAJBank has joined the rank of few banks that had already met or exceeded the CBN’s revised capital thresholds scheduled for enforcement from March 2026 by the apex bank.

Speaking on the achievement, the bank’s CEO enthused: “I am happy to report that through the leadership of our bank’s board, which is led by an industry doyen, Alhaji Tanko Isiaku Gwamna, and support of our valued shareholders and investors, TAJBank has fulfilled the mandatory recapitalization requirement and is now fully prepared for a more customer friendly, innovative banking services delivery to our growing customers nationwide.

“Let me also use this opportunity to commend the CBN Governor, Mr Olayemi Cardoso, and the management of the apex bank for the recapitalization initiative, which by all assessment standards, will reposition Nigerian banks for competitiveness in the rapidly changing global banking space.

“I want to assure all our shareholders, new investors and customers that TAJBank will continue to prioritize their interests in our operations in the management’s sustained drive to add value to every kobo invested in the bank.

“Finally, as our mantra says that our only interest is our customers, we shall be investing more in technological assets, solutions and our human resource to surpass the customers, shareholders and other investors’ expectations through real time delivery of world-class and Shari’ah-compliant financial solutions to meet their needs ”, Joda assured.

It would be recalled that the CBN had in March last year announced the increase in minimum capital requirements for licensed banks in the country as part of its regulatory moves to strengthen the banking sector for improved contributions to Nigeria’s economic growth amid growing uncertainties in the global economic system.

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Business

PULA Foundation and Nigerian Government Partner to Revolutionize Agricultural Insurance

Published

19 hours ago

September 30, 2025

The Gleamer

Abuja, Nigeria – The PULA Foundation, in collaboration with the Presidential Food Systems Coordination Unit (PFSCU) and Bayer Foundation, has launched a groundbreaking agricultural insurance initiative to enhance the resilience of Nigeria’s agricultural sector. The partnership aims to provide climate-resilient agricultural risk mitigation methodologies to approximately 248,000 smallholder farmers across eight states, including Ekiti, Plateau, Kaduna, Enugu, Jigawa, Borno, Nasarawa, and Taraba.

This innovative initiative is part of the National Agribusiness Planning Mechanism (NAPM) program, which was co-created by PFSCU, PULA, and Bayer Foundations. The program’s primary objective is to ensure that Nigerian farmers engage in climate-resilient agriculture risk mitigation methodologies, thereby improving crop yields and reducing losses due to climate-related risks.

The partnership has received strong support from state governments, with eight states already onboarded as part of a pilot program. State governors have demonstrated their commitment to indemnifying their farmers with promptly paid premiums, which will be matched by a commitment from PULA and Bayer Foundations for four seasons. Leadway Insurance will act as the preferred insurance agency to harmonize and assure the program’s insurance cover for each farmer.

According to Marion Moon, Executive Secretary of PFSCU, “By engaging directly with those who implement policies and systems, we gain valuable insights into the specific challenges they face. Understanding these pain points is crucial for developing effective solutions.”

Rose Goslinga, Executive Director of PULA Foundation, noted that “across sub-Saharan Africa, small farmers are the bedrock of national and regional economies—unless the weather proves unpredictable and their crops fail. The solution is insurance, at a vast, continental scale, and at a very low, affordable cost.” This visionary approach underscores PULA’s commitment to supporting the Nigerian government and state governors in their quest for food security, sustainable agricultural practices, and climate resilience.

Dr. Michael Enahoro, PULA Nigeria Country Director, emphasized that “enshrining the responsibility of risk mitigation with the individual farmer allows for improvements in productivity, ensures that the agronomic efforts of the farmer are not wasted, and ultimately benefits both government and consumers.”

The partnership is expected to upscale and cover more value chains, integrate more farmers, and support Nigeria’s quest to eradicate climate change-related disasters and drive sustainable food systems. PULA Foundation and its partners are currently focused on ensuring the expansion of the NAPM into the second phase, which is the 2025 Dry Season, and encouraging all state governments to partner with the PFSCU to ensure all Nigerian farmers participate in the 2025 Dry Season farming exercise wherever possible.

State officials, including Hon. Ebenezer Boluwade and Samson Bugama, Commissioners of Agriculture in Ekiti and Plateau states, have expressed their commitment to the program, while Governor Abdullahi Sule of Nasarawa State believes that the state’s participation in the NAPM program will lead to the improvement and sustainable development of agriculture in Nasarawa.

The initiative is a significant step towards enhancing the resilience of Nigeria’s agricultural sector and promoting sustainable food systems. With the support of state governments, PULA Foundation, and its partners, the program is poised to make a lasting impact on the lives of Nigerian farmers.

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