₦airaland Forum

Nigeria’s premier and largest non-interest bank, Jaiz Bank Plc has achieved the new minimum capital requirement stipulated by the Central Bank of Nigeria (CBN).

The emergence of Jaiz Bank as one of the first to meet the new capital base came after the CBN, Securities and Exchange Commission (SEC) and Nigerian Exchange (NGX) cleared the bank’s N10.04 billion new equity funds.

Jaiz Bank had raised N10.04 billion through a private placement. The listing of the shares that arose from the private placement on the NGX marked the conclusion of the issuance process and confirmed Jaiz Bank’s early success ahead of the June 2026 deadline.

Speaking on the successful capital-raising exercise, Chief Executive Office, Jaiz Bank Plc, Dr. Haruna Musa, described the successful attainment of the new minimum capital base as a reflection of the bank’s dedication to delivering value-driven ethical finance solutions.

He noted that the bank’s strong financial position is underpinned by a diversified and resilient balance sheet with total assets currently at N1.06 trillion and shareholders’ funds at N47.9 billion.

“This achievement underscores the commitment of the board and management to adding value to our customers by providing bespoke ethical finance solutions.

“Jaiz Bank is well-positioned to compete effectively on all fronts, fulfilling customer needs through ethical and innovative financing. Despite a challenging operating environment, we have demonstrated resilience and achieved remarkable growth across financial and non-financial metrics. This positions us firmly on track to becoming the leading ethical bank in Africa,” Musa said.

He outlined that the bank would focus on its strategic priorities aimed at becoming Africa’s leading ethical bank.

“Looking ahead, we will continue strengthening relationships with our loyal customers while attracting new ones. Through our digital platforms, innovative products, and services, we aim to support individuals, businesses, and communities alike.

Our journey to lead the future of ethical finance in Africa remains unwavering, as we stay committed to excellence and delivering long-term value to all stakeholders,” Musa said.

According to him, the successful capital-raising and listing further solidify Jaiz Bank’s leadership in ethical banking, reinforcing its commitment to providing innovative financial solutions and driving sustainable growth in Nigeria’s banking sector.

He added that with this strategic positioning and strong financial footing, Jaiz Bank says it remains poised to expand its market share and contribute to the development of ethical finance across Africa.

The CBN had in March 2024 released its circular on review of minimum capital requirement for commercial, merchant and non-interest banks. The apex bank increased the new minimum capital for commercial banks with international affiliations, otherwise known as mega banks, to N500 billion; commercial banks with national authorisation, N200 billion and commercial banks with regional license, N50 billion.

Others included merchant banks, N50 billion; non-interest banks with national license, N20 billion and non-interest banks with regional license will now have N10 billion minimum capital. The 24-month timeline for compliance ends on March 31, 2026.

Under the new minimum capital base, CBN uses a distinctive definition of the new minimum capital base for each category of banks as the addition of share capital and share premium, as against the previous use of shareholders’ funds.

While several banks have shareholders’ funds in excess of the new minimum capital base, their share premium and share capital significantly fall short of the new minimum definition.
Jaiz Bank had been adjudged as the ‘Global Most Promising Islamic Bank in 2024’.

Godblessme1:
Useless religious bank.


No wonder all the Islamic world is filled with violence and war.

Islamists terrorists and their evil bank

Carndidlaydid:
Who owns this bank

The major shareholder

femisplash:
Jaiz bank, a silent achiever, no noise maker.
The journey to a $1 trillion economy gradually kick started. God bless Nigeria.

Carndidlaydid:
Who owns this bank

The major shareholder



May God deliver you from the spirit of hate...
Amin Amin Amin

Godblessme1:
Useless religious bank.


No wonder all the Islamic world is filled with violence and war.

Islamists terrorists and their evil bank

Mccullum:
Accept Islamic religion for your salvation on this earth and hereafter. Allah loves you. Do not delay it, tomorrow may too late.

samnet123:
Need to check in asap

AK481:
1 trillion economy.. like this .?

Doctors are now trekking .

mejetov422:
Can a non Muslim open account with the bank.

Godblessme1:
may God destroy Allah for bringing so much evil in this world.


May urine be upon Allah and his evil prophet

Mccullum:
Accept Islamic religion for your salvation on this earth and hereafter. Allah loves you. Do not delay it, tomorrow may too late.

Godblessme1:
may God destroy Allah for bringing so much evil in this world.


May urine be upon Allah and his evil prophet

femisplash:
Jaiz bank, a silent achiever, no noise maker.
The journey to a $1 trillion economy gradually kick started. God bless Nigeria.

commoditiesnig:
Good achievement by Jaiz.


Lol.. Ofcourse yes. It's open to every customers irrespective of religious affiliations