Abuja: 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 their approval at the bank’s 14th virtual Annual General Meeting in Abuja on Tuesday.
According to News Agency of Nigeria, a shareholder, Balogun Okelana, commended the bank’s management and board for their efforts in sustaining the bank’s growth. Okelana assured the bank of the shareholders’ continued support and backing for any positive decision aimed at the financial institution’s growth.
Mrs Bisi Bakare, the National Coordinator of the Pragmatic Shareholders’ Association, urged all shareholders to support the bank in its quest to raise additional capital through various financing instruments. Bakare emphasized that the shareholders’ backing would help the bank achieve greater outcomes.
Another shareholder, Alhaji Kabiru Tambari, praised the bank’s management for the progress made so far and expressed optimism about the 2026 financial year. Speaking on the capital raise, Dr Haruna Musa, the Chief Executive Officer (CEO) of the bank, mentioned that the capital would be raised in two or three tranches.
Musa stated that the capital would be allocated to sectors such as agriculture, with a focus on cocoa farming, food preservation, and green energy. He noted that Jaiz Bank is the first non-interest bank to reach the Central Bank of Nigeria (CBN) regulatory threshold and aims to compete with conventional players in the industry.
He highlighted that the 2025 financial year was a period of significant growth for the bank, despite a challenging macroeconomic environment marked by inflationary pressure and exchange rate volatility. The results achieved by the bank in 2025 reaffirmed the strength of their business model, the confidence of their customers, and the increasing acceptance of ethical and non-interest banking across the country.