TAJBank Surpasses Central Bank’s N20bn New Capital Base Ahead Of Deadline
TAJBank Plc said it has crossed the Central Bank of Nigeria’s N20 billion new minimum capital requirement for national non-interest banks, positioning it among early movers ahead of the March 2026 enforcement deadline.
The recapitalisation, which affects all categories of banks, requires national non-interest banks to raise their minimum capital base to N20 billion by March 2026.
The bank in a note to its customers assured that by surpassing this target, it is now better positioned to drive financial inclusion, support large-scale economic growth whilst delivering innovative financial solutions.
“As we enter this new era of strengthened resilience, our commitment remains the same. Thank you for being part of our success story,” the bank noted in it’s note to customers
The managing director and chief executive officer of the bank, Hamid Joda, who had announced the this earlier, had noted that the achievement reflected the strong shareholder confidence and board level commitment to the bank’s long term growth strategy, said the successful recapitalisation was driven by strategic leadership and investor support, assuring customers of enhanced service delivery going forward.
With the development, TAJBank joins the growing list of banks that have already met or exceeded the revised capital thresholds announced by the apex bank as part of efforts to strengthen the financial system.
“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 in the management’s sustained drive to add value to every kobo invested in the bank,” he stated.
“As our mantra says, our only interest is our customers. We shall be investing more in technological assets, solutions and our human resource to surpass customers, shareholders and investors’ expectations through real time delivery of world class and Shari’ah compliant financial solutions,” Joda had added.
