Business

TAJBank Gets New Global Rating, Wins Islamic Bank Award

Published

8 months ago

February 24, 2025

Nigeria’s fastest growing non-interest banking services provider, TAJBank Limited, has again consolidated its frontline position as Nigeria’s most innovative and value-driven non-interest lender, has won an award at the just concluded IFN Awards in Dubai.

The ‘Best Islamic Bank in Nigeria’ award was won by TAJBank through a global survey/poll conducted by the IFN.

Speaking shortly after the conferment of the Best Islamic Bank Award on TAJBank in Dubai, which is considered as one of most highly rated awards in the Islamic Finance Industry, the bank’s Managing Director/CEO, Hamid Joda, attributed the global recognition to “our Board, management and staff’s commitment to best industry standards in products and services’ packaging and delivery to our highly cherished and growing customers.

“We want to thank IFN for the very credible poll that indicated that TAJBank is leading the non-interest banking segment of Nigeria and also assure our growing customers that, as our mantra says, TAJBank’s only interest is the customers”, Joda added.

In his brief comments, the bank’s Co-Founder/Executive Director, Sherif Idi, described the IFN award “as a testament to our relentless efforts to ensure that TAJBank is the preferred choice for customers that are looking for the best in service standards powered by a well-groomed professionals and powered by world class technological assets.”

In the last few years of its operations, TAJBank had in 2022 received the Payment Card Industry Data Security Standard (PCI DSS) certification and three International Standards Organisation (ISO) certifications by the Certification Partner Global (CPG), namely ISO 27001, ISO 22301, and ISO 20000 on Information Security, Business Continuity, and IT Service Management Systems.

At the domestic level, the bank has also won several awards, including the Leadership newspaper’s ‘Banker of The Year Award 2020’, BusinessDay newspaper’s ‘Islamic Bank of the Year Award’ for three consecutive years and several others in recognition of its world-class innovative products and services delivery

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Business

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

Published

5 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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