TAJBank opens another branch in Kano, assures customers world-class service

TAJBank the first corporate to list Sukuk bond on the bourse in Nigeria.

Speaking during the Kano branch opening event, the bank’s Managing Director/CEO, Mr. Hamid Joda, told hundreds of businessmen, artisans and individuals who expressed their interest to be among the first customers of the bank, that the management decided to further consolidate on the bank’s operations in the state “to support all Nigerians who desire to have banking services delivered to them at no interest and offer them opportunities to grow their enterprises and meet the needs of their families.

“As you may be aware, we just opened our Apapa-Lagos branch a few days ago. Coming to Kano to open this new branch, along with the existing ones here, is a demonstration of TAJBank board and management’s commitment to offer what no other bank is offering now to customers. I want to assure you that, as our operations mantra says, ‘our only interest is you’, our highly valued customers”, he added.

Joda said that with the licensing of TAJBank by the CBN to operate nationwide, more of TAJBank’s branches would be opened before the end of the first quarter of the year across the six geo-political zones to deepen the nation’s financial inclusion and by implication, lift millions of Nigerians out of poverty level through customized products and services delivery by the bank to its growing customers.

Commenting on the strength of the bank in terms of its customer-friendly services, strong information and Communications Technology (ICT) assets and highly skilled and courteous staff while opening the branch, Alhaji Ali Balarabe, said the experiences of customers at TAJBank’s branches everywhere attested to the fact that the bank was out to really serve its customers in ways no other bank is doing now.

Balarabe, who is Dangote Industries’ biggest distributor in Nigeria, enthused: “I have been part of TAJBank’s sweet stories over the past three years and given the international and local awards by this bank so far, I can boldly say that TAJBank is the bank setting the pace in innovative products packaging and services delivery to customers.

“I encourage all Kano big business owners, MSME entrepreneurs, artisans, traders and individuals to do business with TAJBank and they will never regret doing so”, he added.

In his brief closing remarks, the Executive Director/ECO of the bank, Mr. Sherif Idi, told the hundreds of people queuing to open accounts in the branch that “identifying with TAJBank brand is the surest guarantee to a fulfilling future for all our customers in the country. Do it today, you won’t regret it.”

Capital market developing products to attract youths -SEC DG

Abuja

The capital market is working to develop products that would make the market attractive to the younger generation in a bid to further deepen the market.

Director General of the Securities and Exchange Commission, Mr. Lamido Yuguda stated this in an interview weekend.

Yuguda who was represented by the Head, Office of the Chief Economist of the SEC, Dr. Okey Umeano, stated that this is one of the provisions made in the revised capital market plan in a bid to make further products available to the populace.

“I must tell you that the demographic in our market is graying and it is a source of worry. That is one of the things we are covering in the Revised Capital market master plan. We are encouraging Capital Market operators to develop technology. The youths do not want to come in and start filling five page forms because they want to access the market, they want to pick their phones and make their investments.

“That is why we are improving our Know Your Customers;we are improving so many things to make it easier for them. That is why we are introducing these Fintechs. We are allowing these Fintechs to come because we see the Fintech as an important gateway for youths to enter the market. We are conscious of that and we are working towards it.

Yuguda said that the youths must understand that the capital market is a viable platform for wealth creation assuring them that the SEC and the market is working on how best to serve them.

“We are striving to improve the way we deliver our products, to improve market efficiency and to make the market attractive to them. Most importantly, we are doing all we can to ensure that investors are adequately protected in the market and that they are able to get the benefits of their investments” he stated.

He further stated that the SEC is working to ensure that the commodities market gets all the support required to grow and support the economy.

“We have about 6 commodities exchanges and we are doing a lot to bring them up to standard. We cannot say that we want to grow the agricultural part of our economy if we do not have a market to support it and that is what we are doing. That market is growing in leaps and bounds, so that is another achievement.

“We are beginning to see some results of these our efforts in that area. Before now, when we did not have this market, farmers were not able to get good price discovery for their products. Therefore, if you have a good commodities exchange, it helps price discovery and it helps credit to flow to the farmers.

Umeano stated that because there is good price discovery, people can now ascertain what they can get if they farm a particular produce within a particular period. That is what the value chain that commodities segment of the market is opening up.

Naira redesign: Kaduna directs agencies to accept payments in old and new notes

By Abubakar Yunus Abuja

The Kaduna state government has directed its ministries, departments and agencies to ensure revenue collection agents accept payments made in old and new notes.

The order was contained in a statement on Sunday, signed by Muyiwa Adekeye, special adviser to the governor on media and communication.

The state government said the directive was in line with the subsisting order of the supreme court.

“In line with the subsisting order of the supreme court, the Kaduna state government has directed its ministries, departments and agencies to ensure that their collection agents continue to accept payments made in all denominations of the naira, old and new,” the statement reads.

“The laws of Kaduna state do not allow personnel of government agencies to be involved in cash collection of revenues.

“The collection agents authorised by the state government agencies do offer citizens a route for cash payment, and are expected to comply with the subsisting court order.”

President Muhammadu Buhari had announced the extension of the validity of the old N200 notes till April 10.

Buhari, in a televised nationwide address on Thursday, said all existing old N1000 and N500 have ceased to be legal tender, but noted that the denomination remain redeemable at the Central Bank of Nigeria (CBN) and designated points.

This came less than 24 hours after the supreme court insisted that the old notes were still valid, and adjourned the case filed by several states — including Kaduna — challenging the deadline on the old notes till February 22.

In a counter directive following the president’s national broadcast, Nasir el-Rufai, governor of Kaduna, said all the old and new notes remain legal tender in the state pending the supreme court’s decision.

Meanwhile, the CBN has commenced the collection of the old naira notes as ordered by Buhari.