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TAJBank Marks 5 Yrs Of Ethical Banking Prosperity

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…Rewards Loyal Staff, Lauds Customers For Loyalty


The Board and management of TAJBank Limited, Nigeria’s leading non-interest bank, have marked the 5th Year Anniversary of the ethical banking prosperity and commended its growing customers for the remarkable achievements recorded by the fastest growing non-interest lender for their patronage and confidence in the quality of its products and services.


Speaking to journalists at the bank’s 5th Year Anniversary event held on Monday in Abuja, TAJBank’s Founder/Chief Executive Officer, Mr. Hamid Joda, restated the board and management’s commitment to offering improved techno-powered products and services to the bank’s customers for the purposes of adding value to their businesses and lives in the years ahead.


He described the customers as valued partners whose interests shall consistently be promoted in line with the non-interest lender’s corporate slogan that its only interest is in the customers.


The foremost non-interest banker explained that to ensure this, the management would continue to invest in critical assets, including financial technology (fintech), to enhance service delivery to the customers and strongly position them at the leading edge of market competition in their business sectors.


On the bank’s plans for the customers in the future, Joda assured: “Well, the customers should be looking at ease of doing business which is our cardinal objective and principle in TAJBank. When we came into the market, our disruptive strategy was IT because the industry has changed fundamentally and we made significant investment in financial technology so as to ease operations for customers and that is what we will continue to do in the years ahead.
“Our customers should expect that TAJBank will continue to be ahead in delivering efficient services to them in the years ahead”, he added


Commenting on the bank’s human capital development strategy, the Co-Founder/Executive Director, Mr. Sherif Idi, maintained that TAJBank’s board and management believed that the employees are the biggest asset and the heartbeat of the bank, who should be constantly invested in to achieve the vision of transforming TAJBank into one of the 20 biggest banks in the country within the next few years.


He explained: “So, we shall continue to invest in human capital development and we will do our best to ensure that they have the best training they can get in the non-interest banking space. Why we are doing that is because we aspire to be among the first top 20 banks by the year 2029 and you know that when you have that type of aspiration, you have to hugely invest first, in human resources; and secondly, in technology.”


Earlier in his remarks, one of the Directors of the bank, Alhaji Tata S. Umar, said that the remarkable achievements of TAJBank in the last five years of its operations were due to the quality of the board and management and strong corporate governance and strong strategies adopted that helped the bank in navigating through the micro and macroeconomic environment of this country.


The Director clarified: “As you are aware, today marks the 5th year of our existence. It has not been easy starting from a small project room to a big bank with branches now all over the country. I think the board has done well and the executive management has done very well also and that is why TAJBank today is Nigeria’s leading non-interest bank.”


In appreciation of their contributions to the bank’s growth, the management presented Long Service Awards to several employees and gifts to other non-staff people amid jubilation of scores of workers, who commended the management for the kind gesture and its recognition of employees’ hard work, and corporate governance etiquette.

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Minister of State For Industry Charges NEPZA on Impactful Performance

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Throws Support Behind Current Management

Honourable Minister of State For Industry, Senator John Owan Enoh today Thursday the 19th of December, identified the importance of enhanced performance with direct impact on the lives of the Nigerian people as critical to the implementation of the core mandate of agencies within the Industrial sector of the Federal Ministry of Industry, Trade and Investment.

Speaking when the top management of NEPZA led by the Managing Director/CEO, Dr. Olufemi Ogunyemi paid him a visit in his office to deliver a progress report on the activities of the authority, the Minister of State for Industry, charged the management of NEPZA to pay greater attention on delivering enhanced performance with focus on industrial matters that will impact the Nigerian people in line with the Renewed Hope Agenda of the present administration. While expressing his readiness to work closely with the leadership of the authority to achieve this objective, he called for continued engagement with the management of NEPZA to achieve this shared objective.

Presenting his progress report to the Honourable Minister of State, Dr. Ogunyemi stated that NEPZA is committed to repositioning itself through various initiatives to ensure continued growth and excellence. He stated that in line with the Renewed Hope Agenda of the present administration, the agency has expanded the Free Trade Zones and clusters to 55 across the nation and generated 13,720 jobs in the process

Within the year under review, the authority also registered 39 new enterprises, registered three new trade zones, facilitated the establishment of the Lekki Deep Sea Port development within the Lagos Free Trade Zone in record time and brought in significant Foreign Direct Investment (FDI) inflow into the country’s economy. Within the period under review, the Managing Director informed the Minister that the work of the authority has led to the inflow of $1 billion worth of investment into the country from the trade zones this year alone. This, in addition to the sum of N425 billion, the trade zones paid as customs duty to the Nigeria Customs.

NEPZA, he said, is engaging with the Securities and Exchange Commission (SEC), the Nigeria Stock Exchange (NGX), and other stakeholders to draft regulations for listing Free Zone Enterprises on the Nigerian Stock Exchange.

The listing he said will enable free zone entities, to access additional finance through the Nigerian capital market, create a framework for Free Zone Entities to contribute to the growth of the capital market and enhance NEPZA’s regulatory oversight of listed Free Zone Entities.

He appealed for the support of the Honourable Minister to enable the authority to overcome current challenges. These include outdated legal and regulatory frameworks, limited understanding of the Free Trade Zone concept, multiple taxation by revenue agencies, limited access to foreign exchange, and inadequate infrastructure, among others.

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