News
TAJBank reports 11.3bn profit, as earnings surge by 149%
TAJBank Limited, Nigeria’s foremost non-interest bank, has reported a profit before tax (PBT) of N11.3 billion in its 4th year of operations.
According to the bank’s Founder/Chief Executive Officer (CEO), Mr. Hamid Joda, on Monday, this is the best in the non-interest lending sub-sector of the banking industry in the year.
Joda said that the PBT represented a 122.65 per cent increase over the N5.08 billion PBT it reported in 2022.
He said that the bank had earlier received the Payment Card Industry Data Security Standard (PCI DSS) certification in recognition of its globally recognised information security standards in all areas of its operations.
“It also recorded 149.13 per cent growth in gross earnings from N17.323 billion in 2022 to N43.157 billion in 2023.
“In the year under review, TAJBank also recorded other remarkable feats in its financial results, with the balance sheet figures surging by over 144 per cent from N212.021 billion in 2022 to N518.335 billion in 2023 financial year.
“Similarly, the bank, which a few weeks ago won the Islamic Finance News’ (IFN’s) “Best Islamic Bank in Nigeria 2023”
” It also surpassed analysts’ forecasts by boosting its shareholders’ funds during the year from N19.535 billion in 2022 to N41.825 billion in 2023, representing 114.10 per cent increase year-on-year.
“A further analysis of the non-interest, innovation-driven bank showed that its gross deposits grew by over 128 per cent in 2023 from N161.958 billion in 2022 to N369.337 billion despite the serious whirlwinds in the economy,” Joda said.
He said that TAJBank had also incentivised its shareholders by raising its earnings per share from N31.06 kobo in 2022 to N65.40k per share, indicating 114.56 per cent improvement in the return on investment for the shareholders.
Joda attributed the sterling performance to the management’s proactive strategies and service delivery innovation being adopted to surpass customers’ expectations.
“We thank all our shareholders for their growing confidence in TAJBank’s board and management as the years roll by.
“Our appreciation also goes to our customers, who are consistently appreciating that our only interest is to offer them excellent products and services at all times,” he said.
The bank’s Co-Founder/ Executive Director, Mr Sherif Idi, said that the key financial performance indicators of TAJBank clearly demonstrate that it had an irrepressible zeal for excellence in all areas of its operations.
“The 2023 financial results are clearly a testament to what we portray and what we are,” Idi said.(NAN)
Kano State government has made arrangements to feed 91,000 people in 91 designated centres during the 2025 Ramadan Feeding Programme.
Flagging off the feeding programme in m Fagge Local Government Area on Sunday evening, the Deputy Governor and Chairman of the programme, Alhaji Aminu Abdulsalam, said that that the initiative would run for 27 days.
He said that the programme was aimed at supporting vulnerable residents and would provide daily iftar meals to fasting Muslims, alleviating the challenges faced during Ramadan.
“Since the assumption of office, Gov. Abba Kabir-Yusuf, has institutionalised this initiative to support vulnerable residents by providing daily iftar meals during the holy month of Ramadan.
“The programme, which is part of the state’s annual humanitarian efforts, aims to alleviate the difficulties faced by fasting Muslims during Ramadan.
“Recognising the needs of the state’s large population of Ramadan observers, the Kano State Government remains committed to ensuring that relief reaches those in need,” he explained.
Abdulsalam expressed satisfaction with the seamless commencement of the initiative.
He further urged the catering companies involved to ensure prompt and efficient delivery of meals to all feeding centers, in order to achieve the programme’s objectives.
Abdulsalam was accompanied by key officials, including the Commissioner for Information and Internal Affairs, Ibrahim Waiya, as well as his counterpart in the Ministry of Religious Affairs, Sheikh Tijjani Auwal. (NAN)
National
Insecurity: APC Forum Accuses Governor Dauda Of Failing to Protect Citizens Amid Party’s Abductions
The Zamfara State chapter of the All Progressives Congress (APC) has strongly condemned the recent abduction of five party chieftains by armed bandits, accusing Governor Dauda Lawal of failing in his responsibility to protect citizens.
The kidnapped individuals, all from Kaura Namoda Local Government Area, were reportedly taken on Saturday while travelling to the Marafa area of the state.
The abductees include Yahaya Sani Dogon Kade, chairman of Dan Isah ward, Bello Dealer, chairman of Sakajiki ward, and three others whose names have not yet been released.
In a statement on Monday, its spokesperson Muhammed Ismaila Kaura criticised the governor’s handling of security in the state.
“As the chief security officer of the state, Governor Dauda Lawal bears the ultimate responsibility for ensuring the safety of all citizens, regardless of political affiliation,” Kaura said.
“Unfortunately, he has failed to live up to this duty. This is not the time for excuses, blame games, or empty rhetoric. It is a time for decisive action.”
The party called for immediate and effective measures to secure the release of its members and to tackle the growing wave of banditry in the state.
“The people of Zamfara are tired of living in fear. We are tired of leaders who offer nothing but excuses while our brothers and sisters are being kidnapped, killed, and displaced. The time for action is now,” Kaura added.
The APC also urged security agencies to intensify efforts in tracking down the perpetrators and ensuring justice for the victims.
“This reprehensible act is not only an assault on the affected individuals and their families but also a direct attack on the peace and stability of our dear state,” the statement continued.
The forum reaffirmed its solidarity with the families of the abducted persons and vowed to continue pressing for their safe return.
“To the criminals behind this heinous act, let it be clear: Zamfara State belongs to its people, not to bandits. Your reign of terror must come to an end. And to the Governor, we say: act now, or history will remember you as a leader who failed his people in their time of greatest need.”
There has been no official response from the state government regarding the abductions. However, insecurity has remained a pressing issue in Zamfara, with frequent attacks by armed groups targeting both civilians and public officials under Governor Dauda lawal
In a dramatic turn of events, Mojisola Meranda has stepped down as the Speaker of the Lagos State House of Assembly, ending her short-lived leadership tenure.
The lawmaker, who represents Apapa Constituency I, made the announcement on Monday, coinciding with her re-election as Deputy Speaker by fellow legislators.
Her leadership was marked by a tense political climate, but lawmakers commended her for maintaining stability and fostering peace within the Assembly. Additionally, her decision to step down was seen as an act of discipline and adherence to the principles of the All Progressives Congress (APC).
Meranda’s resignation came after a reported closed-door meeting with influential APC leaders in Lagos, aimed at resolving the prolonged leadership crisis that had disrupted Assembly proceedings.
The crisis intensified on 13th January 2025, when lawmakers ousted Mudashiru Obasa, the representative of Agege Constituency I, from his position as Speaker.
Obasa was removed from office by more than two-thirds of the 40-member Assembly, with allegations of misconduct and administrative irregularities levelled against him. In the wake of his removal, Meranda was elected as Speaker, making history as the first female to lead the legislative body in the South-West region.
Despite being removed, Obasa refused to accept his dismissal, insisting that due process had not been followed. He challenged the legitimacy of the impeachment, citing the use of security forces during the process and arguing that he had been unfairly removed in his absence while travelling outside Nigeria.
The controversy deepened when 36 lawmakers, aligned with Meranda, stood firm in their decision, affirming that Obasa’s removal was final and that she remained the rightful Speaker. The standoff created heightened tensions within the Assembly, leading to an indefinite adjournment of legislative sessions on 17th February 2025.
The crisis escalated further when security personnel clashed with Assembly staff over control of the complex. Emotions ran high as lawmakers loyal to Meranda expressed their frustration over attempts to reinstate Obasa. In response, they passed a strong vote of confidence in her leadership, reinforcing their stance against his return.
However, Obasa re-emerged at the Assembly Complex on 27th February 2025, escorted by a heavy security detail. His return marked his first physical presence in the chambers since his impeachment, sending shockwaves through the political landscape. His insistence that he was still the Speaker reignited opposition from his colleagues, who maintained their support for Meranda and rejected his claims to the leadership position.
With Meranda stepping down and Obasa continuing to challenge his impeachment, the leadership of the Lagos State House of Assembly remains in limbo.
Political analysts suggest that further negotiations within the APC may determine the final outcome of the power struggle.
Whether the lawmakers will rally behind a single leader or remain divided along political lines remains to be seen.