Business
TAJBank Earns A1 Credit Ratings By Agusto, Datapro
Joel Ajayi
TAJBank Limited, Nigeria’s biggest non-interest banking services provider, has again blazed new trails in world-class ethical banking standards as Agusto & Co and Datapro rating agencies ranked the non-interest lender A1 in credit risk and operational resilience assessment scorecards, making it among the best rated in the nation’s Non-Interest Banking (NIB) space.
The latest ratings of TAJBank represented a notch up from Bbb+ which Agusto & Co rated it about two years ago, and was attributed to the bank’s high quality balance sheet and robust earnings ratios in the financial year 2025.
Despite the prevailing economic whirlwinds in the country, TAJBank in the year under review was noted to have leveraged its operational efficiency and customer-focused world-class services to climb higher on the ladder of best practice principles in ethical banking in the country.
Commenting on the latest feat of the bank during an interactive chat with journalists at the sidelines of a banking stakeholders’ event on Friday in Abuja, the Founder/CEO, Mr. Hamid Joda, described the improved rating by Agusto & Co and Datapro as a clear demonstration that TAJBank had been prioritizing necessary risk management and operational controls, with clear focus on quality processes relating to first class standards, management, and administration lifecycle.
The banker said: “TAJBank Limited latest ratings by these reputable agencies have again validated the management’s commitment to world-class standardization of the bank’s operations, especially in terms of innovative, real time, techno-powered services and risk management for our growing customers on a sustainable basis.
“As we have consistently maintained, our primary goal is to deploy world-class operational standards and services to protect the interest of our customers with a view to surpassing their expectations and retaining TAJBank at the leading edge of the NIB subsector on a sustainable basis.
“The message these latest best ratings by Agusto & Co and Datapro of our bank is sending to our customers, investors and stakeholders in the non-interest banking space is that with TAJBank, they can be rest assured of safety of their investments, transactions and readiness of the bank’s management to give all that it takes to grow their businesses and support their individual socio-economic wellbeing come rain or shine”, Joda assured.
In his remarks on the ratings, the bank’s Executive Director, Mr. Sherif Idi, enthused: “The A1 ratings by Augusto & Co and Datapro, the foremost ratings agencies in the country, have reaffirmed TAJBank’s management’s unwavering commitment to best practice standards through prioritization of investment in human capital, innovative technologies and branch network expansion to consistently make our bank the preferred choice for customers in the NIB subsector of the banking sector.”
Industry analysts believe that the upgraded ratings of TAJBank is well deserved given its impressive imprint in the nation NIB’s landscape over the past few years, particularly the management’s sustained drive to deepen financial inclusion at the grassroots.
Business
LOTUS Bank, REA Partner To Deepen Renewable Energy Access In Nigeria
Joel Ajayi
LOTUS Bank Limited, one of Nigeria’s leading ethical, non-interest banking service providers, has reaffirmed its commitment to inclusive, sustainable development of the country through a strategic partnership with the Rural Electrification Agency (REA), aimed at expanding access to renewable energy solutions across underserved communities.
In a demonstration of its commitment, LOTUS Bank signed a Memorandum of Understanding (MoU) with the REA on Monday in Abuja, under which it will provide accessible funding of up to N100 billion to empower certified Renewable Energy Service Companies (RESCOS).
Speaking during the signing of the deal, Managing Director/CEO of LOTUS Bank, Dr. Isiaka Ajani-Lawal, described the collaboration as a clear reflection of the Bank’s mission to harness ethical finance to address critical, important and national development needs.
The Banker clarified: “LOTUS Bank was established to redefine the impact that financial institutions can have on the society we serve – not simply through financing, but through partnership, empowerment, and shared prosperity.
“Our involvement with REA and the DARES program underscores our commitment to supporting sustainable development goals, while driving financial inclusion across Nigeria.
We believe non-interest finance must go beyond innovation — it must deliver tangible socio-economic value to all segments of society, Ajani-Lawal assured.
In his remarks at the event, MD/CEO of the REA, Abba Abubakar Aliyu, emphasized the importance of addressing financing barriers for off-grid energy developers.
He said: “While Nigeria has made strides in expanding energy access, financing remains a key constraint for RESCOs. Collaborations like this are essential in unlocking private sector investment and delivering sustainable energy solutions at scale.”
The partnership of the Agency and the Bank is expected to accelerate clean energy project delivery, reduce financing bottlenecks, and stimulate private sector participation — a development that supports Nigeria’s National Electrification Strategy and Implementation Plan (NESIP) and contributes to Sustainable Development Goal 7 (SDG7) for affordable, reliable, and clean energy for all.
LOTUS Bank’s expansion into renewable energy financing aligns with its broader strategy to deepen ethical and inclusive finance by supporting initiatives that have measurable social, environmental, and economic impact.
Since its inception in 2021, the Bank has positioned itself as a “Bank for all” with a strong focus on financial inclusion through innovative non-interest products designed for individuals, women, youth, and MSMEs; community empowerment and CSR initiatives; expansion of digital accessibility and making ethical banking more accessible to people in urban and underserved locations nationwide; and financial literacy campaigns and stakeholder engagement to deepen understanding and adoption of non-interest banking principles.
In recognition of its role in deepening financial inclusion and ethical finance, LOTUS Bank was recently named the “Best Ethical and Financial Inclusion Bank of the Year” at the 2025 BusinessDay Banks and Other Financial Institutions (BAFI) Awards, highlighting the institution’s leadership in inclusive financial innovation
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