LAGOS – Shareholders of Jaiz Bank Plc, Nigeria’s premier non-interest lender, have approved a plan to raise 150 billion naira ($101 million) in fresh capital to support market expansion.
The decision was ratified during the bank’s 14th Annual General Meeting in Abuja, enabling the pioneer Islamic finance institution to aggressively scale up its corporate and retail lending operations.
Managing Director Haruna Musa stated that the capital injection will be executed in two or three tranches, with the initial implementation scheduled to commence before the end of September.
The capital drive follows the Central Bank of Nigeria’s March directive mandating recapitalization across the banking sector, forcing local lenders to significantly fortify their minimum capital thresholds.
Jaiz Bank has already met its specific regulatory capital baseline, meaning the new funding will act purely as a growth catalyst rather than a defensive regulatory compliance mechanism.
Management plans to deploy the fresh liquidity into agricultural value chains, cocoa farming, food preservation, renewable energy projects, and collateral-free digital lending platforms for small businesses.
Jaiz Bank recently reported a 28% increase in full-year 2025 profit before tax to 31.24 billion naira, while gross earnings climbed 24% to hit 102.81 billion naira.
The bank’s total asset base expanded 19% to 1.29 trillion naira in 2025, driven by a 24% surge in customer deposits reflecting wider acceptance of ethical banking.
Operational efficiency improved during the period, with the lender’s cost-to-income ratio declining to 58.09% from 60.42% in the previous financial year.
The bank’s capital adequacy ratio strengthened to 26.89%, positioning the company favorably ahead of the upcoming multi-tranche share issuance program.
