1 week ago
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After 5 years of operations successful Nigeria’s rapidly evolving non-interest banking (NIB) space, TAJBank Limited has been adjudged a starring subordinate successful the subsector based connected its full assets and gross net values.
At a seminar successful Abuja focused connected non-interest banks’ roles successful financing tiny and mean enterprises (SMEs), concern adept Olabode Akeredolu-Ale ranked TAJBank Limited arsenic the apical non-interest slope successful Nigeria based connected a five-year show review.
According to Akeredolu-Ale, a chartered stockbroker and accountant, TAJBank led the NIB subsector by full assets and gross net successful the archetypal fractional of 2025.
As of June 2025, the bank’s full assets reached N1.017 trillion, up from N953.098 cardinal successful December 2024, surpassing its closest rival by astir N53 billion.
Also, the bank’s gross net roseate sharply to N53.752 cardinal successful H1 2025 from N32.86 cardinal astatine the extremity of 2024, reflecting a 64 per cent summation and ranking it archetypal among non-interest banks. The slope reported net per stock of 61.36 kobo during the period, astir 92 per cent higher than the adjacent best-performing NIB.
“The information I presented is publically disposable for verification via banking and superior marketplace regulatory platforms. I americium portion of this lawsuit due to the fact that of my probe involvement successful non-interest banking and however the players successful the subsector successful Nigeria tin assistance to leverage their competencies successful innovation and ethical banking to enactment our MSMEs,” said Akeredolu-Ale.
According to him, MSMEs cannot entree deposit wealth slope (DMB) loans contiguous owed to precocious lending rates and different inclement macroeconomic factors. This is wherever I deliberation the NIBs person go precise important to Nigeria’s economical growth. “Overall, my findings connected the NIBs indicated that they are each trying their champion with non-interest loans to enactment entrepreneurs, peculiarly the MSME owners. I person advised those of them astatine this seminar to research the cost-friendly financing options of the NIBs to turn their businesses by opening accounts with the NIBs”, the adept added.
He highlighted the captious relation of non-interest banks successful Nigeria’s economy, chiefly arsenic accepted banks enforce precocious lending rates that restrict MSME entree to credit. Non-interest banks, helium explained, connection ethical, cost-effective financing options amended suited for supporting MSMEs.
Akeredolu-Ale encouraged concern owners attending the lawsuit to see opening accounts with non-interest banks to instrumentality vantage of these financing opportunities.
Another talker astatine the event, Benjamin Chukwudi, besides commended the NIBs for their “catalytic roles successful helping SMEs to entree interest-free loans and providing them with the needed fiscal absorption advisory, which person been helping them prolong their operations successful the look of rising outgo of doing concern successful the country.”
The seminar, hosted by Leaders Corporate Services, aimed to rise consciousness of however non-interest banks tin supply captious fiscal enactment for Nigerian entrepreneurs.
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