Business

TAJBank records highest EPS in Banking Industry, N845m PAT

Published

5 years ago

April 24, 2021

….As assets grew 443% growth in first year of operations

TAJBank, Nigeria’s leading non-interest banking services provider, has recorded the highest earning per share (EPS) in the nation’s banking industry with its shareholders earning N11.82 per share, representing an appreciation of 1,182% on every N1 investment by them in the financial year 2020.

This is even as the lender reported N845 million Profit After Tax (PAT) in its first year of operations ending December 2020 just as its other performance indices were upswing, demonstrating the management’s superior financial competencies to create sustainable value for its various stakeholders.

The performance also lends credence to the success and market acceptance of the non-interest banking model.

The bank’s impressive scorecard was posted during the financial year amid the devastating impact of the COVID-19 pandemic on the global, and particularly Nigeria’s economic landscape.

TAJBank’s financial statements already approved by the monetary authorities indicated that the lender, which had achieved its breakeven mark barely nine months after it debuted in the non-interest banking terrain, grew its total assets from N9.2billion in 2019 to N50 billion in 2020, representing a 443% increase and a remarkable growth.

A further analysis of the ethical and value-driven bank’s financials showed 1,495% growth in its deposit base showcasing the lender’s capacity to thrive in the non-interest banking sub-sector through innovation and efficient service delivery in the face of the COVID-19 triggered disruptions in the financial sector.

The Bank has also grown its agency banking network (TAJExpress), to over 3,000 agents within its first year of operations.

Quite remarkably, at a time when electronic frauds are threatening the global banking system, TAJBank has guaranteed the safety of depositors’ and investors’ funds, recording no single incidence of fraud since its inception.

Commenting on the bank’s impressive performance in its maiden year and capacity to break even within nine months of operation, the Founder and Chief Operating Officer, Mr. Hamid Joda, said the feat “is indicative that in this short period of business operations we have received such a massive amount of support and encouragement from various bodies and individuals.

“Breaking even in nine months of operations is a laudable feat and we are appreciative of the enormous support and encouragement that we have received so far. We assure our customers that we will continue to ts explore the business landscape with a view to consistently deliver on our mission to provide the very best of products and services to our customers”, Joda added.

The bank’s Co-founder and Chief Marketing Officer, Mr. Sherif Idi, also enthused: “In our business environment, creating products and services that fully resonate with our customers while addressing their needs is a priority.

“We are delighted with the satisfaction rate and feedback we have received so far on TAJBank, a thought leader in the increasingly dynamic non-interest banking sub-segment of the banking industry, and its numerous value-adding services to customers”, Idi enthused.

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Business

FG, Investonaire Academy Unveil National Programme to Equip 100,000 Youths with Financial Skills, Digital Wealth Tools

Published

5 days ago

November 25, 2025

The Gleamer

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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