CBN Recapitalisation: Non-Interest Bank TAJBank Meets Target

By Adedapo Adesanya

One of Nigeria’s non-interest banks, TAJBank, has met the new minimum capital requirement of the Central Bank of Nigeria’s (CBN) for national non-interest banks.

The chief executive of the bank, Mr Hamid Joda, confirmed the capitalisation feat during his interactive chat with journalists on the sidelines of an investment summit in Abuja.

This means TAJBank has joined the others which have already met or exceeded the CBN’s revised capital thresholds scheduled for enforcement from March 2026.

“I am happy to report that through the leadership of our bank’s board, which is led by an industry doyen, Tanko Isiaku Gwamna, and support of our valued shareholders and investors, TAJBank has fulfilled the mandatory recapitalization requirement and is now fully prepared for a more customer friendly, innovative banking services delivery to our growing customers nationwide.

“Let me also use this opportunity to commend the CBN Governor, Mr Olayemi Cardoso, and the management of the apex bank for the recapitalization initiative, which by all assessment standards, will reposition Nigerian banks for competitiveness in the rapidly changing global banking space.

“I want to assure all our shareholders, new investors and customers that TAJBank will continue to prioritize their interests in our operations in the management’s sustained drive to add value to every Kobo invested in the bank.

“Finally, as our mantra says that our only interest is our customers, we shall be investing more in technological assets, solutions and our human resource to surpass the customers, shareholders and other investors’ expectations through real time delivery of world-class and Shari’ah-compliant financial solutions to meet their needs, ” Mr Joda told newsmen.

It would be recalled that the CBN had in March last year announced the increase in minimum capital requirements for licensed banks in the country as part of its regulatory moves to strengthen the banking sector for improved contributions to Nigeria’s economic growth amid growing uncertainties in the global economic system.