Business
TAJBank, NIPOST Collaborate on Public-Private Partnership Initiatives
Nigeria’s fastest growing non-interest banking services provider, TAJBank Limited and Nigerian Postal Service (NIPOST) have formalized a new public-private partnership (PPP) initiative with a view to working together for mutual and the nation’s socioeconomic benefits.
The partnership between the non-interest lender and the postal services agency was formalized at the NIPOST Head Office in Abuja, where both parties met for collaborative discussions on how they can push further on initiatives targeted at public-private endeavours with the aim of adding value to the nation’s financial inclusion drive and enhancement of postal services in the country.
Speaking during the event, TAJBank’s Managing Director/CEO, Mr. Hamid Joda, thanked the Postmaster General/CEO of NIPOST, Ms. Tola Odeyemi, for the opportunity given the bank to partner the Service in the management’s efforts to work hand in hand with the firm, riding primarily on branch expansion with NIPOST offices thus expanding the innovative products and services of the non-interest lender.
The world-class banker told reporters that the collaboration with NIPOST hinges on 3Rs – rent, refurbish and rebrand, while also commenting on the latest network expansion of TAJBank’s services into the Lagos axis that it was “another step taken by the board and management of the bank to add value to individuals and business owners’ efforts in terms of cost-free, real-time services and make accessible to them innovative user experience with a vast bouquet of functionalities.
“Indeed, the point here is that at TAJBank, we are about a strategy of cost-saving, in addition to leveraging our services on world-class ICT infrastructure and solutions nationwide, determined to promote inclusion at the grassroots not through POS or other channels alone but through human interface with prospective customers”, Joda assured. Commenting on the collaboration with TAJBank, the Postmaster General/CEO of NIPOST commended the non-interest lender’s collaboration strategy and expressed optimism that working together would be mutually beneficial to NIPOST and TAJBank. Odeyemi enthused: ‘TAJBank needs no introduction and as soon as I had the opportunity to be a part to this initiative, it was a resounding yes. The brand speaks for itself and is here to provide cost-efficient and interest-free banking services to everyone.
”During a brief chat with journalists at the sidelines of the event, the bank’s Executive Director, Mr. Sherif Idi, maintained that
“what we are doing here today is to demonstrate to Nigerians and indeed the global community that TAJBank is fully determined to show how we intend to redefine non-interest banking services as a customer-focused lender and a collaboration with NIPOST which is a very Nigerian parastatal with history aligns with this strategy – that is ready to give all that it takes to surpass customer expectations wherever we are located.
“As our mantra clearly states, our only interest is our customers and I wish to mention that as a country, our history is key. It gives us a roadmap to where we are coming from and where we are going to. TAJBank is a proudly Nigerian institution and with a partnership with NIPOST, we can rebuild our heritage, re-tell our story and above all contribute significantly to the nation’s economy.”
Business
TAJBank Emerges Nigeria’s Biggest Non-Interest Bank
Cyril Ogar
After five years of operations in Nigeria’s rapidly evolving non-interest banking (NIB) space, TAJBank Limited has become the biggest player in the NIB subsector based on its total assets and gross earnings values.
Disclosing this during his paper presentation on the key performance indices in the non-interest banking space over the past few years at a seminar organized by Leaders Corporate Services with the theme “Roles of Non-Interest Banks In SMEs’ Financing” for SME entrepreneurs yesterday in Abuja, an investment expert, Mr. Olabode Akeredolu-Ale, maintained that based on the non-interest banks’ approved financial statements for the half year 2025, TAJBank currently remained the biggest in terms of its total assets.
The expert, a chartered stockbroker, specifically confirmed that his recent investment researches on the NIBs and their financial performances showed that TAJBank, with its total assets rising to N1.017 trillion in half year 2025 up from N953.098 billion as of December 2024, which is about N53 billion higher than the nearest NIB’s assets, now ranked top in the banking subsector.
According to him, TAJBank’s gross earnings for H1 2025 also surged to N53.752 billion from N32.86 billion as of December 2024, representing a 64% growth, and higher than the nearest NIB’s gross earnings in the period under review.
This is even as he disclosed that on the NIBs’ earnings per share during the half year, TAJBank reported N61.36 kobo earnings per share, about 92% higher than the earnings per share of the next NIB during the period.
Akeredolu-Ale, who is also a chartered accountant, clarified: “The figures I am reeling out here on the NIBs are sourced from the banking and capital market regulatory institutions’ platforms, which anyone can access to verify.
“I am part of this event because of my research interest in non-interest banking and how the players in the subsector in Nigeria can help to leverage their competencies in innovation and ethical banking to support our MSMEs.
“Today, the MSMEs cannot access DMBs’ loans due to high lending rates and other inclement macroeconomic factors. This is where I think the NIBs have become very crucial to Nigeria’s economic growth.
“Overall, my findings on the NIBs indicated that they are all trying their best with non-interest loans to support entrepreneurs, particularly the MSMEs owners. I have advised those of them at this seminar to explore the cost-friendly financing options of the NIBs to grow their businesses by opening accounts with the NIBs”, the expert added.
Another speaker at the event, Benjamin Chukwudi, also commended the NIBs for their “catalytic roles in helping SMEs to access interest-free loans and providing them the needed financial management advisory, which have been helping them in sustaining their operations in the face of rising cost of doing business in the country.”
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