Business
TAJBank, ICD seal pact on capital projects’ financing in Nigeria
Joel Ajayi
TAJBank Limited, Nigeria’s leading non-interest bank, has signed a Memorandum of Understanding(MoU) with the Islamic Corporation for the Development of the Private Sector (ICD), a member of theIslamic Development Bank (IsDB) Group, aimed at attracting funding for major infrastructure projects inNigeria.
The MOU signing between TAJBank and the ICD is to express a convergence of will between both entities and build a relationship between the Nigerian lender and the international organization toexplore avenues of financing key capital projects in the Country.
According to the bank’s board, the Sukuk will be offered in tranches of N10 billion each as soon as regulatory approvals are secured.
Speaking on the MOU after the signing, TAJBank’s Managing Director/CEO, Mr. Hamid Joda, enthused: “We are deeply delighted to have crossed another milestone with the signing of this MOU and especially with the Islamic Corporation for the Development of the Private Sector (ICD), it only further buttresses our intention of stimulating investments in critical sectors of the economy leading to national development.
“As we all know, Nigeria has a huge infrastructure gap that requires funding through long-term fundslike that of the ICD”, Joda added.
In his remarks on the deal, the bank’s Executive Director, Mr. Sherif Idi, also expressed his joy over thedevelopment, stressing that the signing of the MoU further demonstrates that “TAJBank is sustaining its giant strides, and this is seen in this partnership as we hope to do more in securing investments that will further bring about creation of jobs and production for better national advancement.”
TAJBank, a leading non-interest bank in the country, commenced operations about two years ago and has accomplished several milestones, including expanding its branch network to 22 within its franchisearea during the period.
The non-interest banking services provider had a few days ago unveiled plans to launch a private sector targeted N100 billion Sukuk programme under a Mudaraba structure that will afford it the opportunity to grow its capital base and by so doing, position it on a strong pedestal to finance large and long-term projects in Nigeria.
The ICD is a multilateral development financial institution under the IsDB saddled with the responsibilityof supporting the development of its member-countries through the provision of finance for private sector projects, promoting competition and entrepreneurship and encouraging cross border investments, amongst other key responsibilities
Business
FG, Investonaire Academy Unveil National Programme to Equip 100,000 Youths with Financial Skills, Digital Wealth Tools
By Joel Ajayi
The Federal Government, in collaboration with Investonaire Academy, has unveiled a nationwide financial literacy and wealth-building programme targeting more than 100,000 young Nigerians. The initiative is designed to equip participants with practical skills in budgeting, saving, investing, asset building, and long-term financial planning, positioning them for sustainable prosperity in a rapidly evolving economy.
Launched on Tuesday in Abuja, the Honourable Minister of Youth Development, Comrade Ayodele Olawande, described financial literacy as a necessary survival tool for young people confronting today’s economic realities.
He noted that the initiative represents the foundation of a broader vision expected to extend beyond Nigeria to other African nations and global markets.
Reaffirming the Federal Government’s commitment to supporting over 4,000 corps members annually, the Minister said the programme will provide platforms, resources, and skills needed for both job creation and employability.
“The young people who understand money — how to save, invest, build assets, and manage risk — are the ones who will lead Nigeria into prosperity,” he said.
A major highlight of the launch was the expansion of the Nigeria Youth Academy, a digital platform offering mentorship, training, and startup support. According to the Minister, more than 200 startups will receive empowerment through the Academy’s e-app platform before the end of the year.
He stressed the need for deeper collaboration with private organisations, innovators, and youth-focused groups, noting that government alone cannot drive youth development. He further encouraged young Nigerians to embrace skills acquisition, innovation, and digital enterprise, saying these remain critical to reducing the desire for migration and increasing self-reliance.
Outlining the Ministry’s long-term commitments, Olawande emphasized three priorities: supporting youth innovation, equipping them with growth tools, and safeguarding millions of Nigerian youths under the Ministry’s mandate.
Speaking at the launch, Sebastien Sicre, Chief Operating Officer of Investonaire Academy, said the programme was crafted to revolutionize the way Nigerian youths learn and apply financial knowledge. He highlighted the Academy’s gamified Learning Management System (LMS), which offers interactive learning tools, community forums, and real-time mentorship to make financial education engaging and accessible.
Complementing the digital platform is a new 200-square-metre physical training centre in Abuja, opposite the NNPC Towers, where in-person workshops and mentorship sessions will take place.
The curriculum covers key global asset classes — including equities, commodities, forex, and indices — ensuring participants gain a broad understanding of financial markets.
Sicre added that with Federal Government backing, the programme seeks to unlock new opportunities, strengthen youth participation in the digital economy, and reward outstanding participants through a $1 million funding pool to support new and existing ventures.
International Programme Director of Investonaire Academy, Dr. Enefola Odiba, explained that the initiative aims to bridge long-standing gaps in financial education among Nigerian youths. While schools teach many subjects, he said, essential financial skills are often missing.
“Many people can earn money — earning money can be easy. The real challenge is retaining, managing, and growing that money,” he noted.
Referencing the Central Bank of Nigeria’s definition of financial literacy, Odiba stated that implementation remains a major national challenge. He said the initiative brings together government agencies, youth groups, academic institutions, and private-sector partners to translate strategy into measurable impact.
The programme’s curriculum covers budgeting, saving, investing, and financial planning — areas where many young people struggle. By offering practical training, real-world insights, and guided mentorship, the initiative aims to build a generation of financially empowered youth capable of driving innovation, entrepreneurship, and sustainable economic growth.
With this partnership, the Federal Government and Investonaire Academy share a common goal: to empower young Nigerians with the financial intelligence and digital tools needed to build wealth, grow businesses, and transform the nation’s economic future.
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