TAJBank has surpassed CBN’s New Capital Requirement ahead of 2026 deadline.
NewsOnline Nigeria reports that TAJBank Limited, one of Nigeria’s fastest-growing non-interest banks, has announced that it has already met the Central Bank of Nigeria’s (CBN) new minimum capital requirement for national non-interest banks well ahead of the March 2026 enforcement deadline.
The bank’s Managing Director/CEO, Mr. Hamid Joda, confirmed this in Abuja during an investment summit, noting that the milestone places TAJBank among the few industry players that have achieved compliance with the apex bank’s recapitalisation directive.
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“I am happy to report that through the leadership of our board, led by Alhaji Tanko Isiaku Gwamna, and the support of our shareholders and investors, TAJBank has fulfilled the mandatory recapitalisation requirement,” Joda said. “We are now fully prepared to deliver more customer-friendly and innovative banking services nationwide.”
He commended CBN Governor Olayemi Cardoso and his team for what he described as a “forward-looking policy” designed to strengthen Nigerian banks for global competitiveness.
Post-recapitalisation strategy
With its new capital position, TAJBank plans to scale up its technology infrastructure and expand digital financial solutions. Joda explained that the focus will be on real-time delivery of Shari’ah-compliant financial products, supported by robust tech platforms to serve its fast-growing customer base.
“As our mantra says, our only interest is our customers. We will continue investing in technology, solutions, and human resources to exceed the expectations of customers, shareholders, and investors,” he added.
NewsOnline Nigeria recalls that the CBN had in March 2024 directed national non-interest banks to raise their minimum capital base to ₦20 billion by March 2026, part of broader measures to strengthen the financial sector.
TAJBank has been on a strong growth trajectory. Its 2024 full-year results showed an 84% jump in total assets—from ₦518.33 billion in 2023 to ₦953.10 billion. Customer deposits rose 89% to ₦696.34 billion, while gross earnings climbed 80% year-on-year to ₦75.5 billion. The bank also declared a dividend of 20 kobo per share, its third since inception.
Industry analysts, including Fitch Ratings, expect Nigeria’s Islamic finance sector to expand significantly from 2025 to 2026, driven by new capital requirements, sovereign sukuk issuances, and rising demand for Islamic banking products.
