TAJBank, one of Nigeria’s fastest-growing non-interest banks, has met the Central Bank of Nigeria’s new minimum capital requirement for national non-interest banks.

The bank’s Managing Director/CEO, Hamid Joda, confirmed this achievement during an interactive chat with journalists on the sidelines of an investment summit in Abuja. With this compliance, TAJBank has joined the rank of few banks that had already met or exceeded the CBN’s revised capital thresholds scheduled for enforcement from March 2026.

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

He commended the CBN Governor, Olayemi Cardoso, and the management of the apex bank for the recapitalisation initiative, which he believes will reposition Nigerian banks for competitiveness in the rapidly changing global banking space.

The CBN had announced an increase in minimum capital requirements for licensed banks in March 2024, 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. National non-interest banks are required to raise their minimum capital base to N20 billion by March 2026.

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

He also emphasized the bank’s commitment to investing in technology assets, solutions, and human resources to deliver world-class and Shari’ah-compliant financial solutions.

“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,” Joda stated.