Shareholders approve Jaiz bank’s N150bn additional capital raise
By Ginika Okoye
Shareholders of Jaiz Bank Plc have backed the move to raise N150 billion additional capital through various financial instruments for the bank.
The shareholders gave the backing at the bank’s 14th virtual Annual General Meeting in Abuja on Tuesday.
A shareholder, Balogun Okelana, commended the bank management and board for their efforts toward ensuring and sustaining the growth of the bank.
Okelana assured the bank of the shareholders’ continued support and backing for any good decision towards the growth of the financial institution.
Mrs Bisi Bakare, the National Coordinator, Pragmatic Shareholders’ Association, urged all shareholders to support the bank in its quest to raise additional capital through various financing instruments.
Bakare said that shareholders’ support would help the bank to achieve greater results.
Another shareholder, Alhaji Kabiru Tambari, commended the bank’s management for the progress so far recorded, expressing optimism about the 2026 financial year.
Speaking on the capital raise, Dr Haruna Musa, the Chief Executive Officer (CEO) of the bank, said the capital would be raised in two or three tranches.
Musa said that the capital would be deployed to agriculture, especially cocoa farming, food preservation, green energy, among others.
According to him, Jaiz Bank is the first non-interest bank to reach the Central Bank of Nigeria (CBN) regulatory threshold.
”We intend to be at par with conventional players in the industry,” he said.
He said that the 2025 financial year was a period of remarkable growth and progress for the bank, despite challenging macroeconomic environment characterised by inflationary pressure, exchange rate volatility, among others.
He said that the results recorded by the bank in the 2025 financial year reaffirmed the strength of their business model.
According to him, it also reaffirms the confidence of their customers and the increasing acceptance of ethical and non-interest banking across the country. (NAN)(www.nannews.ng)
Edited by Remi Koleoso/ Kadiri Abdulrahman