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TAJBank Maintains Industry Growth as Total Assets Grow by 84%

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By Tony Obiechina, Abuja

TAJBank Limited, Nigeria’s fastest growing non-interest bank, sustained its record-breaking feat in the nation’s banking history with the payment of 20 kobo per share dividend to its shareholders at the end of financial year (FY) 2024, being the third investment reward for the investors in its five years of operations.

Available industry data on dividends paid to shareholders by most banks during the year under review showed that TAJBank’s dividend, based on earnings per share, represented one of the best in terms of dividend ratio to share value of banks nationwide.

The major highlights of the TAJBank’s financial results in FY 2024 showed that the bank’s Total Assets grew from N518.33bn in 2023 to N953.10bn in 2024, representing 84% growth year-on-year; while its Gross earnings also increased to N75.5bn in the year under review from N43.2bn in 2023, indicating 80% growth.

Similarly, the multiple award-winning non-interest bank also recorded impressive performance in its deposit base, which surged by 89%, from N369.33bn in FY2023 to N696.34bn in FY 2024.

In the year under review, the bank’s gross earnings rose to N467.38bn from N271.92bn recorded in 2023 financial year, representing 72% year-on-year on growth just as the profit before tax (PBT) grew by 61% to N18.2bn from N11.3bn in the preceding year, among other impressive financial indices.

Commenting on the bank’s FY2024 financial results, particularly on dividend payment to the shareholders despite the inclement operating environment, TAJBank’s Founder/CEO, Mr. Hamid Joda, said: “With the payment of the third dividend to the shareholders within five years of operations, TAJBank’s Board and management have again demonstrated that investors’ interest remains a priority in their drive to sustain the bank at the forefront of non-interest banking space in Nigeria.

“The sterling performances of TAJBank these past years clearly attest to the management’s proactive strategies and innovativeness in service delivery and I want to assure our investors that their interests will always be prioritized in our operations at all times”, Joda added.

In his remarks, the bank’s Co-Founder/Executive Director, Mr. Sherif Idi, said: “The payment of the third dividend to our shareholders at the end of FY2024 is historic and aligns with the primary goal of TAJBank being in business, which is to continually serve the interests of our shareholders, customers, and the public.

“We want to thank all our shareholders for contributing to the growth of the bank and also urge them to encourage their friends to invest in TAJBank as doing so will guarantee them sustained benefits”, the banker assured.

General News

NiMet Forecasts Three-day Dust Haze, Sunshine from Today

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The Nigerian Meteorological Agency (NiMet) has predicted dust haze and sunshine from Monday until Wednesday across the country.

‎NiMet’s weather outlook released on Sunday in Abuja, envisaged moderate dust haze over parts of Kebbi and Kano States of the northern region on Monday.

‎It predicted horizontal visibility of 2km to 5km over the region with the rest of the northern States to be under sunny and hazy skies throughout the forecast period.

‎”For central region, moderate dust haze with horizontal visibility of 2km to 5km is anticipated over parts of the Federal Capital Territory and Niger states, while the rest of the states in the region should be under sunny and hazy skies throughout the forecast period.

”For southern region, sunny skies with a few patches of cloud are anticipated over the region with prospects of afternoon/evening thunderstorms with light rains over parts of Bayelsa, Lagos, Cross River and Akwa Ibom States,” it said.

‎According to NiMet, a slight dust haze is anticipated over parts of Kano and Kebbi States of the northern region on Tuesday, while the remaining states in the region are expected to have sunny and hazy skies throughout the forecast period.

The agency envisaged sunny and hazy skies over the central region throughout the forecast period with chances of isolated thundery activity over parts of plateau state during the afternoon and evening hours.

‎It anticipated sunny skies with patches of cloud over the southern region with prospects of afternoon or evening thunderstorms with light rains over parts of Ogun, Ondo, Edo, Bayelsa, Rivers, Lagos, Cross River and Akwa Ibom States.

‎NiMet forecasts sunny and hazy skies over the northern region throughout the forecast period on Wednesday.

‎The agency predicted sunny and hazy skies over the central region throughout the forecast period.

‎According to NiMet, sunny skies with a few patches of cloud are anticipated over the southern region with prospects of afternoon or evening thunderstorms with light rains over parts of Oyo, Ogun, Ondo, Edo, Bayelsa, Rivers, Lagos, Delta, Cross River and Akwa Ibom States.

‎”Dust particles are in suspension; the public should take necessary precaution; People with asthmatic health conditions and other respiratory issues should be cautious of the present weather condition.

‎”Driving under the rain should be with caution. Airline operators are advised to get airport-specific weather reports (flight documentation) from NiMet for effective planning in their operations,” it said

‎The agency urged residents to stay informed through weather updates from NiMet, and visit its website on www.nimet.gov.ng.

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General News

FG Declares Holidays for Christmas, New Year Celebrations

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The Federal Government has declared Thursday, December 25, and Friday, December 26, 2025, as public holidays to mark Christmas and Boxing Day.

It also announced Thursday, January 1, 2026, as a public holiday for the New Year celebration.

The announcement was made in a statement issued on Monday by the Permanent Secretary of the Ministry of Interior, Dr.

Magdalene Ajani, on behalf of the Minister of Interior, Olubunmi Tunji-Ojo.

According to the statement, the minister urged Nigerians to reflect on the values of love, peace, humility, and sacrifice associated with the birth of Jesus Christ.

Tunji-Ojo also called on citizens, regardless of faith or ethnicity, to use the festive season to pray for peace, improved security, and national development.

He further advised Nigerians to remain law-abiding and security-conscious during the celebrations and wished them a Merry Christmas and a prosperous New Year.

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Otu Receives New Charts for Bakassi Deep Seaport

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From Ene Asuquo, Calabar

The Cross River State Government has recorded a major breakthrough in its quest to transform the state into a maritime hub with the official presentation of the Hydrographic, Geotechnical, geophysical Report and New Navigational Chart for the proposed Bakassi Deep Seaport project.

Out, who spoke at a formal ceremony held in the State Executive Council Chamber in Calabar, described the event as a “historic milestone” that not only affirms Nigeria’s maritime boundaries but also sets the stage for an economic revolution across the Gulf of Guinea.

“This is truly a historic day, not just for Cross River State but for the entire country,” Governor Otu said. “What we have achieved today replaces charts dating back to 1903 and settles long-standing debates about Cross River’s status as a littoral state. This chart clearly affirms our coastal status.”

Otu emphasized that the updated maritime chart now aligns with S-100 international standards, positioning Cross River for deepwater commerce and international shipping operations.

“When we connect this with the ongoing coastal highway, we’re looking at a completely different city,” he said. “The economic potential is enormous.”

Otu acknowledged the foundational work of former NDDC Chairman Professor Eyo Etim Nyong, describing the seaport project as a dream revived and revitalized.

“We picked up this dream where the former governor, Professor Ben Ayade left off. Public funds had been committed, and we could not allow it to die. Today is another giant step toward its full realization,” he said.

With the technical phase complete and the report formally presented, Governor Otu disclosed that the project now awaits a final seal of approval from the Federal Executive Council (FEC).

“Once we get that FEC seal, work starts almost immediately,” he assured. “Cross River is ready, and this project is not just for us, it is for Nigeria and for West Africa.”

The presentation was led by Rear Admiral Ayo Olugbode, Hydrographer of the Federation and CEO of the National Hydrographic Agency of Nigeria, alongside senior naval officers including the Chief of Naval Staff, Vice Admiral Emmanuel Ogalla, and Rear Admiral Anyo Olokunle.

Rear Admiral Olugbode described the report as the culmination of an intensive multi-year effort, beginning with a formal flag-off on December 21, 2024, and followed by rigorous data acquisition starting January 6, 2025. The survey, he said, covered hydrographic, geophysical, and geotechnical dimensions, all aimed at ensuring safety, precision, and international compliance.

“This is more than just a technical report. It is the bedrock for constructing and operating the Bakassi Deep Seaport,” he said. “It provides essential data for engineering design, dredging, breakwater construction, and navigation safety.”

He added that the data would boost investor confidence, enable effective ocean governance, and contribute to global initiatives such as Seabed 2030, a project that aims to map the entire seafloor of the world by 2030.

Olugbode also praised the Cross River State Government for its unwavering support.

“Your Excellency, your administration’s commitment and facilitation of logistics created an enabling environment for the success of this complex operation,” he noted.

The Bakassi Deep Seaport is expected to catalyze investments in shipping, logistics, trade and tourism, while creating jobs and strengthening Nigeria’s position in the global blue economy.

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