TAJBank Exceeds CBN’s ₦20bn Capital Requirement

TAJBank Plc has announced that it has successfully surpassed the Central Bank of Nigeria’s newly approved ₦20 billion minimum capital base for national non-interest banks, positioning the institution as one of the early achievers ahead of the March 2026 enforcement deadline.

The recapitalisation directive, which applies across all categories of banks, requires national non-interest financial institutions to strengthen their capital base to improve resilience, enhance risk bearing capacity, and support broader economic development. TAJBank’s early compliance signals strong financial health and strategic preparedness amid ongoing reforms in Nigeria’s banking sector.

In a note to customers, the bank said the achievement places it in a stronger position to deepen financial inclusion, support large scale economic activities, and expand the delivery of innovative, Shari’ah compliant financial solutions across the country.

The Managing Director and Chief Executive Officer, Hamid Joda, attributed the milestone to sustained shareholder confidence, board level commitment, and a clear long-term growth strategy. He noted that the successful recapitalisation was driven by strategic leadership and strong investor support, adding that customers should expect improved service delivery and expanded product offerings.

With this development, TAJBank joins a growing list of banks that have met or exceeded the revised capital thresholds set by the Central Bank of Nigeria as part of efforts to reinforce the stability and competitiveness of the financial system.

Industry analysts expect that banks with stronger capital buffers, such as TAJBank, will be better positioned to pursue balance sheet expansion, fund larger corporate and infrastructure projects, and scale digital banking solutions. The enhanced capital base is also expected to support TAJBank’s interests in expanding its non-interest banking products across retail, SME, and corporate segments, while strengthening risk management and regulatory compliance.

Joda noted that the recapitalisation initiative would reposition Nigerian banks to compete more effectively in a rapidly evolving global financial environment.

By all standards, the initiative 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 prioritise their interests in our operations, with a sustained drive to add value to every kobo invested in the bank,” he said.

Looking ahead, the bank indicated plans to increase investment in technology infrastructure, digital financial solutions, and human capital development. These investments are expected to support faster service delivery, improved customer experience, and the rollout of world class, Shari’ah compliant products tailored to the evolving needs of individuals, businesses, and institutional clients.