Business

TAJBank opens new branch to deepen financial inclusion

Published

3 years ago

July 13, 2022

…..As excited traders jostle to open account
Joel Ajayi
TAJBank Ltd, a leading non-interest hank, has continued its service and financial inclusion drive with the opening of a new, technology-powered branch in Wuse 2, Abuja.

L-R: TAJBank Limited’s Managing Director/CEO; Mr. Hamid Joda; the bank’s board Chairman, Alhaji Tanko Gwamma; and the Executive Director, Mr. Sherif Idi; in joyous mood as the Chairman cuts the tape to formally open the new branch in Wuse 2, Abuja….recently

The opening of the new branch brings the lender’s growing branch network to 22 within its first two years of operation.
Speaking during the event, which was witnessed by scores of traders and small business owners eager to do business with the non-interest financial services provider, the Managing Director/CEO; Mr. Hamid Joda, said the opening of the Wuse 2 branch aligned with the management’s strategy of deepening financial inclusion by taking banking products and services to millions of unbanked and undeserved populace in the grassroots.

Joda explained: “The opening of the new branch is to continue with our strategy of ensuring that we take the TAJBank brand to all the nooks and crannies of the Country with the aim of addressing the service needs of our teeming customers.

“We understand that Customers want to do business and sometimes someone to give them that advisory service they yearn for which in turn will help to address their financial challenges”, he added.

In his remarks, the bank’s board Chairman, Alhaji Tanko Gwamma, stressed that one of TAJBank’s goals was to increase its visibility at the grassroots in demonstration of its commitment to continuously add socio-economic value to ordinary Nigerians.

According to him, Wuse 2 zone is one of the promising locations in the FCT where businesses are thriving every day and the idea of opening a branch there “is to ensure that customers don’t suffer in their banking transactions as TAJBank will not only give them real time service but also give them advice on how to grow their businesses.”

It would be recalled that TAJBank recently reported a 433% growth in PBT for the 2021 financial year and significant growth in gross revenue, balance sheet and other performance assessment indicators.

The non-interest bank is also set to launch Nigeria’s first private sector Sukuk offering under a N100 billion programme.

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Business

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

Published

4 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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