Business and Economy
Non-interest TAJBank Reports 433% PBT in 2021 Financial Year
…as balance sheet grows to N110bn
The second non-interest Bank, TAJBank Limited, has recorded more milestones in its second year of operations with its profit before tax (PBT) surging to N1. adsbygoogle || []).push({}); js"> 6 billion in FY2021, representing 433% improvement over the preceding year’s profit.
This is even as the multiple award-winning lenders, which recently received the Payment Card Industry Data Security Standard (PCI DSS) certification in recognition of its globally recognized information security standards in all areas of its operations, also recorded 117% growth in gross revenue from N3.3 billion in FY2020 to N7.2 billion in FY2021.
In the period under review, the bank recorded positive indicators which showed the remarkable growth that the nascent bank continues to achieve. The bank’s financial results showed a rise in its balance sheet figure from N50 billion in FY2020 to N110 billion in the FY2021 recording a 122% growth.
The bank also achieved a leap in shareholders’ funds during the year which also marked some great improvements in the Bank’s financial results coming from the previous year.
The non-interest bank’s audited financial statements also reflected outstanding positive indices which demonstrated its management’s professionalism in handling investors’ funds despite serious economic headwinds.
TAJBank’s drive for deposit base growth showed in the financial results as customer deposits also remarkably grew in the year under review, increasing by 99% over the previous year’s value and representing the highest in the industry.
Also, the bank also rapidly expanded its branch network by 22 new branches and business offices within the period under review.
Speaking on the financial results, the Managing Director/CEO, Mr. Hamid Joda, noted that “since commencing operations two years ago, TAJBank has continued to record giant strides in the financial services industry.
“It is on record that we achieved break-even in our 8th month of business, recorded profit in our first year of operations while also wiping-off preoperational expenses in the first year of operation. Generally, the bank has continued to record excellent financial performance within the short period of its existence”, he added.
The Executive Director, Mr. Sherif Idi, while reacting to the results said: “TAJBank has a healthy appetite for growth and for excellence and these results are a testament to what we portray and what we are about.”
He also stressed that the bank “is not looking at slowing down in its sustained commitment to continue to add value to our shareholders, surpassing our customers’ expectations in innovative products and services delivery and in ensuring that we continue to break frontiers in the Nigerian financial system.”
Author Profile
Latest entries
NewsNovember 15, 2024GTBank Alleged Cyberstalking: Digital Journalists Group Direct Members, Charges Others To Boycott GTB
NewsNovember 14, 2024GTBank Alleged Cyberstalking: 3 SANs Storm Court, Justice Faji Denies Journalists Bail
NewsNovember 13, 2024Kogi State Auditor General for Local Government Urges Newly Eected Chairmen to Emulate Governor Ododo’s Transparency and Good Governance
NewsNovember 11, 2024TREASURE ABAH: Happy Birthday to Our Illustrious Alumna, Mrs. Yaiye Elebiyo Edeni.
Business and Economy
Governor Ododo Endorses GOBO Initiative, Empowering Small-Scale Entrepreneurs and Vulnerable Populations
By Abah Benjamin Eneojoh
The Executive Governor of Kogi State, His Excellency Alh Ahmed Usman Ododo has thrown his weight behind the Governor Ododo Business Outreach (GOBO) initiative, a program aimed at uplifting marginalized groups and providing economic opportunities at the community level.
adsbygoogle || []).push({});
googlesyndication.com/pagead/js/adsbygoogle.js">
During a strategic meeting with the Kogi State Forum of Senior Special Assistants in his office on 06-11-2024, the Governor expressed his support for GOBO, which aligns with his vision of inclusive governance.
Launched on October 31, 2024, GOBO has already shown positive impact, with increased visibility and support among petty traders and small businesses. The initiative provides sustainable business avenues for those previously lacking access to financial resources and market opportunities.
Hon. Yahaya Shehu Ahmed, Chairman of the Kogi State Forum of Senior Special Assistants, thanked the Governor for his encouragement and support.
The Governor commended the forum’s dedication to GOBO and its commitment to improving citizens’ quality of life, assuring continued support and encouraging ways to deepen GOBO’s impact across the state.
The forum also presented an award of excellence to former Governor Alhaji Yahaya Adoza Bello, recognizing his contributions to the state’s growth and effective governance , particularly the choice of Gov Ododo and his Deputy.
This development is consistent with research highlighting the importance of government support for entrepreneurship development in Kogi State.
Shehu noted that Small and medium-scale enterprises have significantly contributed to the state’s economic growth, stressing that the GOBO initiative demonstrates the power of grassroots-driven solutions and inclusive growth, marking a step towards sustainable development in Kogi State.
Author Profile
Latest entries
NewsNovember 15, 2024GTBank Alleged Cyberstalking: Digital Journalists Group Direct Members, Charges Others To Boycott GTBNewsNovember 14, 2024GTBank Alleged Cyberstalking: 3 SANs Storm Court, Justice Faji Denies Journalists BailNewsNovember 13, 2024Kogi State Auditor General for Local Government Urges Newly Eected Chairmen to Emulate Governor Ododo’s Transparency and Good GovernanceNewsNovember 11, 2024TREASURE ABAH: Happy Birthday to Our Illustrious Alumna, Mrs. Yaiye Elebiyo Edeni.
Business and Economy
Kogi State Government Suspends Mining Activities Over Security Concerns
By Abdulrahman Obaje
The Kogi State Government has suspended all mining activities in the state due to the influx of bandits and negative elements in the sector.
This decision was reached during today’s October 4th, 2024 Executive Council meeting, presided over by Governor Alh.
adsbygoogle || []).push({});
googlesyndication.com/pagead/js/adsbygoogle.js">
Usman Ahmed Ododo in Lokoja the Kogi State Capital.
While briefing News men after the State Executive Council Meeting, the Commissioner for Information and Communication, Hon. Kingsley Fanwo said the Ministry of Solid Minerals and Natural Resources will profile legal mining companies to ensure genuine mining data. This clean-up aims to minimize criminal activities.
He further noted that the State Government would collaborate with federal mines officers and security agencies to enforce strict compliance. “We urge all mining companies to cooperate, as we prioritize security”.
We implore all mining companies to bear with us in this circumstance, as we prioritize security” he said.
The Kogi State Government reassures of its commitment to security and will not condone any form of infiltration or illegal activities.
The suspension has been welcomed by stakeholders, who hope it will address long-standing security concerns in the mining sector in Kogi State.
Author Profile
Latest entries
NewsNovember 15, 2024GTBank Alleged Cyberstalking: Digital Journalists Group Direct Members, Charges Others To Boycott GTBNewsNovember 14, 2024GTBank Alleged Cyberstalking: 3 SANs Storm Court, Justice Faji Denies Journalists BailNewsNovember 13, 2024Kogi State Auditor General for Local Government Urges Newly Eected Chairmen to Emulate Governor Ododo’s Transparency and Good GovernanceNewsNovember 11, 2024TREASURE ABAH: Happy Birthday to Our Illustrious Alumna, Mrs. Yaiye Elebiyo Edeni.
Business and Economy
Infrastructure Upgrade: Zenith Bank Apologizes for Disruptions, Assures Customers on Improved Services
by Abdulrahman Obaje
Nigeria’s leading financial institution, Zenith Bank, has reassured its customers of improved services following recent infrastructure upgrades.
In a message posted on Thursday, October 3rd, 2024 the bank apologised for the service disruptions experienced across its e-channels during the upgrade period.
js">
The bank clarified that the glitches were a result of routine information and technology maintenance, which is essential for optimizing service delivery.
Zenith Bank emphasized its commitment to ensuring 100% uptime, stating that it takes this responsibility “very personally” and continuously allocates resources to maintain uninterrupted service availability.
In the statement, the bank expressed its sincere apologies for any inconvenience caused to customers during the upgrade process, highlighting that the information technology enhancements are designed to improve the quality of service for its esteemed clientele.
The message reads in part: “Dear Valued Customer, We sincerely apologise for the service disruptions you experienced recently on our banking channels. This was due to an information Technology upgrade aimed at improving the quality of service we provide.
“We have made significant progress with the upgrade and you can now perform transactions conveniently with the following Zenith bank Channels:
Your Zenith Bank Debit Card
The Zenith Bank Mobile App
The Zenith bank Internet Banking Platform
Zenith Agents nationwide (Agent Banking)
“You can also visit any of our branches nationwide to perform your transactions
Please direct all enquiries to Zenith Direct on +234 201 278 7000, 0700ZENITHBANK, 0904 085 7000 Or via email at Zenithdirect@zenithbank.com. Thank you for banking with us”
Author Profile
Latest entries
NewsNovember 15, 2024GTBank Alleged Cyberstalking: Digital Journalists Group Direct Members, Charges Others To Boycott GTBNewsNovember 14, 2024GTBank Alleged Cyberstalking: 3 SANs Storm Court, Justice Faji Denies Journalists BailNewsNovember 13, 2024Kogi State Auditor General for Local Government Urges Newly Eected Chairmen to Emulate Governor Ododo’s Transparency and Good GovernanceNewsNovember 11, 2024TREASURE ABAH: Happy Birthday to Our Illustrious Alumna, Mrs. Yaiye Elebiyo Edeni.
GTBank Alleged Cyberstalking: Digital Journalists Group Direct Members, Charges Others To Boycott GTB
Share this StoryDigital Journalists group, Guild of digital Journalists, GDJ …
GTBank Alleged Cyberstalking: 3 SANs Storm Court, Justice Faji Denies Journalists Bail
Share this StoryThree Senior Advocates of Nigeria (SAN) have joined …
Kogi State Auditor General for Local Government Urges Newly Eected Chairmen to Emulate Governor Ododo’s Transparency and Good Governance
Share this StoryBy Abah Benjamin Eneojoh Kogi State Auditor General …
TREASURE ABAH: Happy Birthday to Our Illustrious Alumna, Mrs. Yaiye Elebiyo Edeni.
Share this StoryThe 2007 MACOSA Class of Prince Abubakar Audu …
29th Anniversary on the Throne: Ajia Celebrates Emir of Ilorin, Sulu-Gambari
Share this StoryBy Abdulrahman Obaje The President/CEO of Funab Group …
Ancient City of Kabba Agog in a Show of Support for Gov Ododo
Share this StoryBy Abah Benjamin Eneojoh The ancient city of …
Imbibe Humility, Open-Door Policy”, Kogi Deputy Gov Charges Chairmen, Council Leaders
Share this StoryBy Unubi Emmanuel O The Deputy Governor of …
Governor Ododo Endorses GOBO Initiative, Empowering Small-Scale Entrepreneurs and Vulnerable Populations
Share this StoryBy Abah Benjamin Eneojoh The Executive Governor of …
Kogi Govt to Bolster Security, Collaborates With Security Agencies
Share this StoryBy; Unubi Emmanuel O The Kogi State Government …
Alleged cyberstalking: Ogun NUJ direct members to shut down GTBank accounts
Share this StoryHakeem Adegbenro, Abeokuta The Ogun state council of …