Business

Customer-centric service values, innovation earned us 2022 Award – TAJBank MD

Published

3 years ago

November 13, 2022

Joel Ajayi

For the second consecutive year, judges at the BusinessDay’s ‘Banks and Other Financial Institutions (BAFI) Awards have rated TAJBank Limited, Nigeria’s leading non-interest bank, as the winner of the ‘Islamic Bank of the Year Award’ 2022 for the bank’s impressive performance during the year.

In a pre-award ‘Notification of Shortlisting At BusinessDay Banks and Other Financial Institutions’ (BAFI) Awards’ letter by the management of BusinessDay dated October 13, 2022 to TAJBank management, the awards’ organisers stated: “It would not be an exaggeration to say that 2022 has been the Year of TAJ when the bank has been setting one record after the other.

Having won the Islamic Bank of the Year Award at the 2021 edition of the BAFI Awards, this back-to-back shortlisting would make it a first if TAJBank wins again this year.”

The BAFI Awards’ organisers attributed the nomination of TAJBank for the 2022 Award to the bank’s financial performance; credit rating upgrade to “Bbb” by Augusto & Co reflecting “the Bank’s good liquidity profile, satisfactory capitalization, improving profitability and a growing franchise in the Islamic banking space”, Issue of National Banking License by the Central Bank of Nigeria; and successful issuance of its N100 billion Series 1 Sukuk programme, amongst others.

After several days of appraisal of the nominees for this year’s Award, the BusinessDay management formally conferred the ‘Islamic Bank of the Year Award’ 2022 on TAJBank on November 5 this year at an impressive ceremony where hundreds of the bank’s customers described the award “as well deserved”.

Speaking on the BAFI award to the bank, the Managing Director/Chief Executive Officer of TAJBank, Mr. Hamid Joda, described it as “unequivocal proof that our Board and management, supported by our very resourceful, customer-friendly staff, are on the right track in our sustained drive to re-define non-interest banking in Nigeria, especially in terms of our innovativeness and customer-focused products and services delivery.

“We are excited by the award, which we have won now for the second consecutive year in justly barely less than three years of our operations and we want to assure the regulatory authorities, our stakeholders and customers that we will not relent in our efforts to consistently deliver the best to our customers in services and by so doing, grow our shareholders’ funds and returns on their investments in the years ahead.

“Let me say that this award is earned because our customers, who, are our “only interest” are doing their best to support the bank and we dedicate the award to them and Almighty God that enables us to keep TAJBank growing at all fronts”, Joda added.

TAJBank had won the Leadership Newspapers’ 2020 Bank of The Year’ award barely a little over a year after it debuted as a non-interest bank in Nigeria based on its innovativeness and standardization in products and services delivery.

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Business

Democracy Day: Fiscal Discipline Key To Nigeria’s Sustainable Devt – Auditor-General

Published

6 days ago

June 12, 2025

The Gleamer

…Urges National Assembly to Pass Audit Bill 2022

Joseph Bisi

As Nigerians commemorated a historic milestone in their collective pursuit of a more socio-economically robust nation, the Auditor-General for the Federation (AuGF), Shaakaa Kanyitor Chira, has implored the nation’s leaders and citizenry to intensify their efforts in championing the cause of fiscal discipline and accountability within the public finance system. In a brief conversation with journalists to mark the 2025 ‘Democracy Day’ on Thursday, the AuGF commended President Bola Tinubu’s administration for its ongoing fiscal and tax reform initiatives, describing these measures as essential for enhancing the nation’s revenue generation and budgetary expenditures. Chira explained that transforming the potential benefits of these reforms into tangible gains for the citizenry required more transparent fiscal mechanisms for the monitoring and evaluation of government expenditures, including the auditing processes and the timely appraisal of the Audit report by his Office, free from political interferences. He said: “Today’s Democracy Day is worthy of celebration, given the political history of the country and the prospects for sustainable development. Over the past few years, we have witnessed a series of reform initiatives by both past and present administrations aimed at improving the nation’s fiscal system, particularly under President Bola Tinubu, based on the current Tax Reforms and Fiscal Policy Bills that are being finalized by the National Assembly. “Let me emphasize that these measures are not merely desirable for Nigeria’s sustainable development; the enactment of the four pivotal bills will significantly contribute to stabilizing the financial system while also promoting transparency in public finance and prudent governance at all levels of government throughout the country. “It is imperative to underscore, however, that the role of the Office of the Auditor-General of the Federation (OAuGF) in achieving these laudable objectives may be impeded if the Audit Bill currently before the National Assembly is not enacted into law. “The passage of the Bill, which seeks to augment the AuGF’s role in ensuring accountability, transparency and value for money in government expenditure while empowering the AuGF with administrative and financial autonomy, is crucial for enhancing transparency and accountability within Nigeria’s public finance system that aligns with International Standards of Supreme Audit Institutions (ISSAIs). “Therefore, I seize this opportunity to appeal to our lawmakers in the National Assembly to prioritize the passage of the Audit Bill as a strategic legislative initiative to achieve the commendable goals of the Tax Reforms and Fiscal Policy Bills they are presently finalizing,” the AuGF added.Experts are of the view that the Auditor-General’s call for the passage of the Audit Bill 2022 aligns with the OAuGF Strategic Plan 2024-2028, which encapsulates the objectives of the Office being the Supreme Audit Institution(SAI) of Nigeria, aimed at enhancing public sector governance and accountability. The four principal objectives of the Strategic Plan include Goal 1: Focusing on the enhanced independence and mandate of the OAuGF; Goal 2: to mitigate mismanagement of public funds through more robust follow-up on audit recommendations; Goal 3: to ensure improved financial reporting within the public sector; and Goal 4: to establish the OAuGF as a model institution not only in Nigeria but on a global scale.

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