Another Nigerian Bank Meets CBN Recapitalisation Target, CEO Sets New Goal
- Jaiz Bank has announced a new capital goal of N150 billion after crossing CBN’s recapitalisation threshold
- The non-interest bank said it plans to raise its capital beyond CBN’s ceiling to entrench itself as a trust financial institution in Nigeria
- Jaiz Bank disclosed this new bold initiative at the unveiling of its new corporate identity in Abuja on Tuesday, August 19, 2025
Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.
Jaiz Bank Plc has joined the growing list of Nigerian banks which have crossed the recapitalisation target set by the Central Bank of Nigeria (CBN).
At the last count, about eight Nigerian banks have crossed the recapitalisation hurdle, a previous Legit.ng report says.
Source: UGC
Jaiz Bank sets a new bold mission
Jaiz Bank, one of Nigeria’s non-interest banks, said it plans to raise its capital base to N150 billion, confirming compliance with the CBN’s recapitalisation directive.
According to the bank’s MD/CEO, Haruna Musa, on Tuesday, August 19, 2025, the bank had already surpassed the apex bank’s regulatory hurdle but was working beyond the capital ceiling.
The Jaiz Bank boss disclosed this at the unveiling of the bank’s new corporate identity in Abuja.
Moving beyond CBN’s recapitalisation target
He outlined the bank’s next step, to include a plan to raise a minimum of N100 billion and, in the next three years, to a minimum of N200 billion.
“So, we will recapitalise Jaiz Bank beyond the minimum regulatory requirement,” Musa said.
Punch reports that Musa described the bank’s new identity as more than a cosmetic change.
Jaiz Bank unveils a new look
He said that the exercise showed the bank’s commitment to modernising its platforms while holding on to its values.
The new look features a redesigned logo with a new palette of deep blue, yellow and grey, which the bank says symbolises trust, optimism, and balance.
Musa said that the bank’s long-term strategy is to become one of the biggest and most efficient Islamic banks in Africa.
The Jaiz CEO hinted at a regional expansion, having crossed CBN’s recapitalisation hurdle.
He said the bank has been invited to establish a presence in two African countries, including Ghana and Sierra Leone.
According to Musa, Jaiz Bank would prioritise financing small businesses.
A modest financial performance
Despite a modest dip in assets, the bank recorded stronger profits, underscoring resilience amid its recapitalisation push.
Jaiz’s financials as of June 30, 2025, show that it posted total assets of N964.09 billion, lower than the N1.08 trillion recorded in the same period last year.
Its liability stood at N892.62 billion from the N1.01 trillion recorded the previous year, while its equity stood at N71.47 billion.
Source: Twitter
Jaiz Bank’s second quarter 2025 gross earnings rose to N45.19 billion from N36.16 billion, raising its pre-tax profit to N14.76 billion relative to N11.56 billion in 2024, with profit after tax hitting N14.45 billion from N11.28 billion.
Earnings per share stood at 32.46 kobo from 32.67 kobo in the same period last year.
Two banks enter secret merger talks to beat deadline
Legit.ng earlier reported that as the recapitalisation deadline set by the CBN approaches, two national banks are reportedly said to have begun merger talks to meet the regulatory deadline and remain competitive.
More and more banks are facing intense heat, with six banks having about N965 billion funding gap, a prior report by Legit.ng disclosed.
Already, five banks have scaled the recapitalisation hurdle and will proceed with their operations.
Source: Legit.ng
