Business

TAJBank Charts Roadmap For future Growth At 3rd AGM

Published

3 years ago

June 29, 2022

…Eyes National Bank Licence
Joel Ajayi
Smarting from the impressive financial and other operational performance indices recorded since it debuted as a non-interest bank in Nigeria two years ago, the Board and Management of TAJBank Limited on Wednesday highlighted indices to ensure its continuous and sustainable growth in the years ahead.

The Managing Director/CEO of the bank, Mr. Hamid Joda, in his report at the bank’s 2022 Annual General Meeting (AGM) held in Abuja, attributed the performances of the non-interest lender over the past two years to innovativeness in key areas of customer-centric service delivery powered by world-class technologies and solutions, human resource capacity building and shareholders and customers’ growing confidence.

Specifically, the seasoned banker listed the key objectives considered crucial to transforming TAJBank into an industry leader in the years ahead as including, securing a license to make TAJBank a national bank by the second quarter of 2022; and promoting financial inclusion by leveraging various channels and touch points, especially through the bank’s electronic platforms.

In addition, Joda told the shareholders that one of their objectives was to make TAJBank to “be recognized as the market leader in the non-interest industry in Nigeria” and that another major strategy is to “expand its branch network across state capitals/major commercial centers in Nigeria to offer non-interest banking product and services to the understand markets.”

L-R: Managing Director/CEO TAJBank Limited. Mr. Hamid Joda; the Board Chairman, Alhaji Tanko Isiaku Gwamma; Acting Company Secretary, Hajia Amina Usman Toli; and Executive Director, Mr. Sheriff Idi; during the bank’s 3rd Annual General Meeting (AGM) held in Abuja yesterday

He also spoke on plans to grow the bank’s agency network to 100,000 agents by 2025 thereby reducing the financial exclusion rate; and to transform TAJBank into a leading digital bank in the country before the end of this year.

He expantiated: “Our success in 2021 demonstrates that we not only kept our commitment to our stakeholders, but we are growing in a sustainable manner so that we can continue to enhance value to society while also generating the revenue our shareholders will appreciate.
“We are constantly improving our operations so that we can respond to our clients’ ever-changing needs in their daily lives more efficiently and effectively. We are also pushing ourselves further beyond our comfort zones to provide a viable financial platform for all our stakeholders”, Joda added.

Earlier in his statement, the bank’s Chairman, Alhaji Tanko Gwamma, reported that TAJBank attracted and retained more customers, and recorded exponential growth in its risk asset base, while it is committed to achieving the required regulatory metrics, as well as pursuing strong growth in its balance sheet items, amongst other positive indices.

He enthused: “I am delighted to inform you that the future of the Bank is outstandingly bright and beautiful. We are confident to state that our exceptional service delivery, robust technological deployment, and responsive operational system yielded the excellent performance we have recorded so far.”

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Business

NEXIM Bank Secures Bbb+ Rating from Agusto & Co., Declares ₦30.47 Billion Operating Profit

Published

4 days ago

October 2, 2025

The Gleamer

By Joel Ajayi

The Nigerian Export-Import Bank (NEXIM) has been assigned a Bbb+ rating by leading credit rating agency Agusto & Co. Limited, affirming its satisfactory financial condition and strong capacity to meet obligations relative to other development finance institutions (DFIs) in Nigeria.

For the year ended 2024, NEXIM Bank reported an operating profit of ₦30.47 billion, more than double the ₦13.75 billion recorded in the previous year. This remarkable growth underscores the Bank’s financial resilience and operational efficiency.

Established to promote Nigeria’s non-oil exports and support import-substituting businesses, NEXIM is fully owned by the Federal Government of Nigeria through equal shareholding by the Central Bank of Nigeria (CBN) and the Ministry of Finance Incorporated (MOFI).

The Bank has sustained strong liquidity and capital adequacy ratios, alongside notable growth in its loan book and equity investments. Key sectors supported include manufacturing, agriculture, solid minerals, and services.

According to Managing Director, Mr. Abba Bello, NEXIM has intensified its intervention in the non-oil export sector, disbursing over ₦495 billion and facilitating the creation and sustenance of more than 36,000 direct and indirect jobs.

Among the Bank’s key initiatives are:The Regional Sealink Project: A public-private partnership designed to improve maritime logistics across West and Central Africa. Promotion of Factoring Services: Offering alternative export financing solutions for SMEs. And Joint Project Preparation Fund (JPPF): Implemented in partnership with Afreximbank to enhance the bankability of export projects.

Additionally, NEXIM is developing tailored financing schemes for the mining sector, including Contract Mining, Equipment Leasing, and Buyers’ Credit/ECA Financing, aimed at unlocking export potential and boosting foreign exchange earnings.

With its renewed drive, NEXIM Bank remains committed to building local processing capacity, advancing Nigeria’s competitiveness in global trade, and strengthening non-oil export revenues by moving up the commodity value chain.

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