Business

TAJBank to kick off N100bn Sukuk bond issuance, lists benefits

Published

3 years ago

August 29, 2022

…..targets N30bn capital base by year end

Umoru Abdulkadri

TAJBank Limited, Nigeria’s leading non-interest lender, has formalized the kick off the bank’s N100 billion Sukuk bond issuance with the signing of all the parties for issuance of the first ever non-interest private Sukuk bond offer in the nation’s capital market.

The Bank has secured all regulatory approvals required for opening the Sukuk to the general public and the bond will be listed on the Nigerian Exchange.

Speaking during the epoch-making event at the bank’s headquarters in Abuja, the bank’s Managing Director/Chief Executive Officer, Mr. Hamid Joda, described the bank’s latest investment initiative as a very important milestone in the annals of Nigeria’s capital market development and assured investors of good returns on their investment in the TAJBank Sukuk bond.

He explained: “The Sukuk bond issuance by TAJ Bank is a very important milestone in the history of Nigeria’s capital market. I believe that after this issuance, we will see a number of companies in the Nigerian market coming out to issue Sukuk bonds and that will lead to deepening of the non-interest market and eventually economic development of Nigeria.

“My message to the investing public is to take advantage of the opportunity in view of its potential for good returns. The instrument is coming out at an expected rate of 15 percent. It is also an ethical instrument and there are very few ethical instruments out there and I believe a lot of investors are looking for instruments that have ethical leaning”, Joda assured.

In his remarks, the bank’s Executive Director, Mr. Sheriff Idi, also stressed the importance of the Sukuk bond to the TAJ Bank’s operations, capacity to provide financial support to needy enterprises with the attendant positive implications for the nation’s economic growth.

The non-interest banking expert clarified: “In the last two years of the bank’s operations we have raised additional capital apart from the Sukuk we are issuing now. With the Sukuk bond issuance, we wanted to raise TAJ Bank’s capital base to about N30 billion by the end of the year and that means we can now finance those sectors that probably some initially thought we cannot provide funding support. That is the essence of this Sukuk bond issuance.”

The bank’s Chairman, Alhaji Tanko Isiaku Gwamna, further clarified: “The funds raised through the Sukuk bond and innovative deployment to needy sectors of the economy will help to create jobs, boost economic activities and improve the non-interest banking sub sector’s contributions to the nation’s Gross Domestic Product (GDP) growth in the years ahead

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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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