Business

TAJBank Wins BusinessDay’s ‘Islamic Bank of The Year’ Award For 3rd Time

Published

2 years ago

November 6, 2023

The Gleamer

….Newspaper’s mgt link award to lender’s world-class services, others

…..Newspaper’s mgt justifies award on lender’s impressive financials, others

Joel Ajayi

TAJBank Limited, Nigeria’s fastest-growing and most customer-friendly non-interest lender, has again won the BusinessDay newspaper’s 2023 ‘Islamic Bank of the Year Award, beating other contenders in the selection process for the prestigious award for the third consecutive year.

Presenting the award to the Bank’s management, represented by the Regional Head, Lagos Mr. Michael Iteye, during the newspaper’s Banking and Financial Institutions (BAFI) awards ceremony held in Lagos, BusinessDay’s representatives at the awards ceremony, Tosin Sanni, GM Emerging Africa; and Frank Aigbogun, Publisher BusinessDay, said that the award was conferred on TAJBank in recognition of “its commitment to world-class services, impressive financial performances and consistently being at forefront in the nation’s financial inclusion drive over the last three years.”

Speaking on the highly competitive award by the newspaper, the bank’s Founder/Managing Director, Mr. Hamid Joda, said: “As the saying goes, hard work pays. So, the Islamic Bank of the Year Award by BusinessDay to our bank this year is a clear indication that the public is aware of the remarkable strides we are making to set new standards in technology-powered and value-laden services and products to our customers.

“We are happy that this award is coming barely four months after TAJBank became a leader in the Tier 1 Capital ranking and posted the highest Profit Before Tax (PBT) of the non-interest banking segment of the Nigerian Exchange in half year 2023.

“As we have said from the beginning as our corporate mantra that “our only interest is the customer”, the BusinessDay newspaper’s award this year is a confirmation that we are on track in terms of innovative service delivery and value-addition to our growing customers globally.

“Let me use this opportunity to thank our customers, the regulatory authorities and other stakeholders in the financial system that we will not relent in our efforts to consistently offer them the best as we continue to expand the frontiers of our operations for financial inclusion to the unbanked and under-banked people, especially those in the grassroots nationwide”, Joda assured.

Commenting on the latest recognition of the bank for its service delivery innovativeness, TAJBank’s Co-Founder/Executive Director, Mr. Sherif Idi, said: “We are excited for bagging this coveted award, which, based on what the newspaper’s management confirmed was bestowed on TAJBank after a rigorous competition and transparent process adopted by the panel of judges.

“As our Board and management have always said, this award is a call on us to do more in terms of innovative services and products’ packaging and I want to assure all stakeholders in the Nigerian and global non-interest banking space, particularly our valued customers, that TAJBank will not let them down, in terms of their expectations for world class services and getting loans without interest as we jointly continue to take the bank to loftier heights”, Idi assured.

It would be recalled that TAJBank had in 2021 and 2022 won the BusinessDay’s awards and before then had also clinched the Leadership Newspapers’ 2020 ‘Bank Of The Year’ award.

In recognition of the non-interest lender’s strict compliance with global best practices, particularly in information security standards in all areas of its operations, TAJBank in 2022 received the Payment Card Industry Data Security Standard (PCI DSS) certification and three International Standards Organisation (ISO) certifications by the Certification Partner Global (CPG), namely ISO 27001, ISO 22301, and ISO 20000 on Information Security, Business Continuity, and IT Service Management Systems

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Business

Democracy Day: Fiscal Discipline Key To Nigeria’s Sustainable Devt – Auditor-General

Published

1 week ago

June 12, 2025

The Gleamer

…Urges National Assembly to Pass Audit Bill 2022

Joseph Bisi

As Nigerians commemorated a historic milestone in their collective pursuit of a more socio-economically robust nation, the Auditor-General for the Federation (AuGF), Shaakaa Kanyitor Chira, has implored the nation’s leaders and citizenry to intensify their efforts in championing the cause of fiscal discipline and accountability within the public finance system. In a brief conversation with journalists to mark the 2025 ‘Democracy Day’ on Thursday, the AuGF commended President Bola Tinubu’s administration for its ongoing fiscal and tax reform initiatives, describing these measures as essential for enhancing the nation’s revenue generation and budgetary expenditures. Chira explained that transforming the potential benefits of these reforms into tangible gains for the citizenry required more transparent fiscal mechanisms for the monitoring and evaluation of government expenditures, including the auditing processes and the timely appraisal of the Audit report by his Office, free from political interferences. He said: “Today’s Democracy Day is worthy of celebration, given the political history of the country and the prospects for sustainable development. Over the past few years, we have witnessed a series of reform initiatives by both past and present administrations aimed at improving the nation’s fiscal system, particularly under President Bola Tinubu, based on the current Tax Reforms and Fiscal Policy Bills that are being finalized by the National Assembly. “Let me emphasize that these measures are not merely desirable for Nigeria’s sustainable development; the enactment of the four pivotal bills will significantly contribute to stabilizing the financial system while also promoting transparency in public finance and prudent governance at all levels of government throughout the country. “It is imperative to underscore, however, that the role of the Office of the Auditor-General of the Federation (OAuGF) in achieving these laudable objectives may be impeded if the Audit Bill currently before the National Assembly is not enacted into law. “The passage of the Bill, which seeks to augment the AuGF’s role in ensuring accountability, transparency and value for money in government expenditure while empowering the AuGF with administrative and financial autonomy, is crucial for enhancing transparency and accountability within Nigeria’s public finance system that aligns with International Standards of Supreme Audit Institutions (ISSAIs). “Therefore, I seize this opportunity to appeal to our lawmakers in the National Assembly to prioritize the passage of the Audit Bill as a strategic legislative initiative to achieve the commendable goals of the Tax Reforms and Fiscal Policy Bills they are presently finalizing,” the AuGF added.Experts are of the view that the Auditor-General’s call for the passage of the Audit Bill 2022 aligns with the OAuGF Strategic Plan 2024-2028, which encapsulates the objectives of the Office being the Supreme Audit Institution(SAI) of Nigeria, aimed at enhancing public sector governance and accountability. The four principal objectives of the Strategic Plan include Goal 1: Focusing on the enhanced independence and mandate of the OAuGF; Goal 2: to mitigate mismanagement of public funds through more robust follow-up on audit recommendations; Goal 3: to ensure improved financial reporting within the public sector; and Goal 4: to establish the OAuGF as a model institution not only in Nigeria but on a global scale.

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