CBN grants national licence to TajBank | Dailytrust

CBN grants national licence to TajBank

From left: Chief Compliance Officer of TAJBank, Mr Saheed Ekeolere; Executive Director, Mr Sherif Idi; Managing Director/Chief Executive Officer, Mr Hamid Joda; Group Head, Shariah Unit, Mr Usama Saleh, and Deputy Chief Risk Officer, Mr Kamoru Adeyemi, during a media briefing on the issuance of National Licence to TAJBank by the Central Bank of Nigeria (CBN) held in Abuja, on Wednesday
From left: Chief Compliance Officer of TAJBank, Mr Saheed Ekeolere; Executive Director, Mr Sherif Idi; Managing Director/Chief Executive Officer, Mr Hamid Joda; Group Head, Shariah Unit, Mr Usama Saleh, and Deputy Chief Risk Officer, Mr Kamoru Adeyemi, during a media briefing on the issuance of National Licence to TAJBank by the Central Bank of Nigeria (CBN) held in Abuja, on Wednesday

TAJBank Limited, a non-interest bank, has secured the approval for nationwide banking operations from the Central Bank of Nigeria (CBN).

The license is coming on the heels of several awards bagged by the bank in the past two years of operations with three International Standards Organisation (ISO) certifications.

Water Resources Bill inconsistent with Nigeria’s constitution — Governors

CNG tackles IPOB over attack on Abia cattle market; traders cry for help

At a media briefing yesterday in Abuja, the Managing Director/CEO of TajBank, Mr Hamid Joda, described it as another feat as the bank has impressive products and services making it a preferred choice in non-interest banking operations.

He said, “I want to assure them (CBN) that with the latest approval by the authorities, we will deploy all human and technological resources to their doorsteps and give real meaning to the National Financial Inclusion Strategy (NFIS) by bringing world-class non-interest banking products and services to their doorsteps for growth and prosperity.”

The CEO also said the national license would help in growing the bank’s agency network to 25,000 by 2025, thereby reducing the financial exclusion rate.

TAJBank’s management had in June unveiled plans to launch Nigeria’s first private sector Sukuk offering under a N100 billion programme under a Mudarabah structure, thereby marking a historic shift from government-dominated Sukuk offerings to a fully private sector-oriented offering in the Nigerian debt markets.

Commenting on the national licence issuance to the non-interest lender, the bank’s Executive Director, Mr Sherif Idi, said: “We are very excited to achieve this feat, especially when the potential benefits to our customers and the nation’s economy cannot be quantified in socio-economic terms.

“For us, it is a call for more services to millions of Nigerians, who are desirous of having access to credit without pain. Let me say it out loud, we shall not disappoint them on this expectation.”

Dear Reader,
Every day, we work hard to provide readers such as you with the most accurate, up-to-date, and comprehensive information. Quality journalism costs money. Today, we're asking that you support us to do more. Your support means that Daily Trust can keep offering journalism to everyone in the world. Sign up for as little as N1,000 to become a member. Learn more about our membership here

Bank transfers can be made to:
Zenith Bank
1017257739
Media Trust Ltd


Please send details of your bank transfer to the email or Whatsapp number below so that we can contact you.

If you have any questions, please let us know.

Inquiries:
Email: membership@dailytrust.com
Whatsapp: +234 806 990 3410