Business

Financial Inclusion: Tajbank Opens 3 New Branches, NANTS Lauds Drive

Published

4 years ago

May 27, 2021

Joel Ajayi

Tajbank, Nigeria’s Leading Non-Interest Bank, Has Opened Three New Branches In Abuja In Furtherance Of Its Sustained Drives To Deepen Financial Inclusion And Offer Stress-Free Innovative Financial Services To Its Growing Customers Nationwide.

Speaking During The Opening Ceremony Of The Technology-Powered Branches, The Bank’s Chairman, Alhaji Tanko Isiaku Gwamna Told Thousands Of People Who Graced The Occasion To Open New Accounts That The New Branches Were Part Of The Bank’s Mission To Serve As A Catalyst For Micro, Small And Medium Enterprises’ (Msmes’) Sustainable Growth In Nigeria.

He Enthused: “By Launching These Branches In Locations That Are Particular To The Ecosystem Of The Businessman And Women, We Are Fulfilling Our Mission Of Making Seamless Banking Solution Accessible To All Businesses.

“Let Me Assure All Our Old And Potential Customers That Tajbank Will Continue To Serve Your Interest And Support Every Step You Take To Improve Your Business Operations For Profitability And Your Socio-Economic Well Being Through Interest-Free Loans And Unparalleled Quality Service Delivery”, Gwamna Assured.

According To The Bank’s Management, The Three New Branches Located At Wuse Market, Garki Market And Gudu Market Will Help In Leveraging The Non-Interest Lender’s Strives Towards Catalysing Msmes’ Productivity And Profitability Despite The Lingering Impact Of COVID-19 Pandemic On The Economy.

In His Remarks At The Event, The NANTS President, Barrister Ken Ukaoha, Commended Tajbank’s Board And Management For Bringing The Much-Cherished Interest-Free Banking Services To The Market Men And Women Especially At A Time Many Other Financial Services Providers Are Either Closing Their Branch Networks For Flimsy Excuses Or Depressing Traders With High Interest Rates.

“We Are Happy That Tajbank Is Supporting Nigerian Traders And We Will Also Reciprocate Their Goodwill By Encouraging Traders To Do Business With The Bank So As To Facilitate A Win-Win Experience For The Bank And Traders Nationwide. Indeed, We Would Meet To Strengthen The Symbiotic Relationship”, Ukaoha Added.

In The Past Year Of Its Debut As A Non-Interest Bank, Tajbank’s Has Continued To Record Success Since Its Opening In December 2019.

It Would Be Recalled That The Bank Recorded Profit In Its First Year Operation And Is Currently Expanding Its Branch Networks, With Plans To Extend Services To The Six Geopolitical Zones Soon.

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Business

Nigeria, Japan Launch Groundbreaking Youth-Focused Venture Fund

Published

15 hours ago

April 2, 2025

The Gleamer

Joel Ajayi

In a major boost to youth entrepreneurship, Nigeria and Japan have launched a strategic venture capital initiative that will channel Naira-denominated investments into high-growth startups, shielding them from currency risks while unlocking access to long-term concessional financing.

The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, today in his office in Abuja met with officials from the Nigeria Sovereign Investment Authority (NSIA) and the Japan International Cooperation Agency (JICA) to finalise the framework of the fund, which has now received formal approval from the Japanese government.

NSIA CEO Aminu Umar-Sadiq confirmed that the initiative satisfies two key conditions set by the Minister: mitigating foreign exchange volatility by investing in Naira and securing first-loss or grant capital to de-risk private investment.

With JICA’s support, this is not just a proposed solution—it’s a fully approved, ready-to-launch initiative, Umar-Sadiq said.

JICA Director General Takao Shimokawa announced that diplomatic agreements would be signed within weeks, with full implementation expected thereafter.

The Coordinating Minister of the Economy welcomed the development, calling it a timely response to Nigeria’s youthful demography. This fund provides critical financial backing across the capital structure—from equity to debt—and is aligned with President Bola Tinubu’s Renewed Hope Agenda for inclusive economic growth, he stated.

By combining international concessional financing with domestic currency stability, the fund marks a new model for venture capital in Africa, aimed squarely at empowering the next generation of Nigerian innovators.

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