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TAJBank Sukuk Bond Records 185.5 Per Cent Oversubscription

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By Tony Obiechina, Abuja

TAJBank Limited, the fastest growing non-interest bank in Nigeria, has again demonstrated its frontline visibility in Nigeria’s non-interest banking investment market with its latest N20 billion Mudarabah Sukuk bond offer recording 185.15% oversubscription rate.

The data just released by the investment market authorities on the performance of the bond indicated that the debt instrument, with annual profit rate at 20.

5% per annum, recorded N57,029,771  billion allotment, representing 185.15% oversubscription and highlighting the growing investor confidence in the bank.

On the performance of the bond, TAJBank’s Founder/Managing Director, Hamid Joda, described the N20 billion Mudarabah Sukuk bond subscription rate, which is the second tranche of the bank’s N100 billion Sukuk bond programme, as impressive given the current micro and macroeconomic factors in the economy, which continue to rob off on the real income of Nigerians and other residents in the country.

He said: “Let me say that this outstanding performance of the Sukuk bond is a clear demonstration that the bank is enjoying growing investor confidence and this can only be attributed to the quality of innovative products and services, value addition TAJBank is delivering in the non-interest banking subsector of the banking system, especially when analyzed within the context of the current realities in the debt instrument market today.

“I want to thank the board, management and staff of the bank, the regulatory authorities and the investors for their contributions to the success of the bond issuance. I also assure them that TAJBank shall continue to protect their interest to ensure a win-win experience for all stakeholders as we sustain our drive to sustain the bank as the leading player in the nation’s non-interest subsector of the banking system”, he added.

In his remarks, the bank’s Co-Founder/Executive Director, Sherif Idi, noted: “This investment feat is a clear demonstration of investors’ trust in TAJBank and we will continue to do our best to surpass their expectations through world-class products and services. As always, our interest in the customers and investors.”

Analysts in the investment market believe that with the outstanding success of the latest TAJBank’s N20 billion Mudarabah Sukuk bond, more investors, businesses and bank customers will be encouraged to do business with the bank for the purposes of exploring the opportunities in its innovative products and services and good returns on their investments.

Since the TAJBank debuted in the non-interest banking space in Nigeria about five years ago, it has, through investor-customer centric products and services delivery, been promoting world-class ethical non-interest banking in line with the management’s vision to transform the bank into one of Nigeria’s first top 20 banks by year 2029.

In recognition of its commitment to best practices in non-interest banking globally, TAJBank has won several awards, including the Global Islamic Finance Award (GIFA) 2023 for its ‘Best Sukuk Deal of the Year 2023’. Before then, it had won BusinessDay newspaper’s ‘Islamic Bank of The Year’ awards for 2021, 2022 and 2023 and before then clinched the Leadership newspapers’ ‘Bank Of The Year Award’ in 2020, amongst other laurels. 

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Benue Govt, UNICEF Train Master Trainers on Digital Learning to Boost Classroom Innovation

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From Attah Ede,  Makurdi 

A four-day capacity-building programme aimed to strengthen digital education in Benue State has commenced in Makurdi, with education stakeholders undergoing intensive training on digital literacy, blended learning and the deployment of the Nigeria Learning Passport (NLP) platform.

The training, organised by the Benue State Ministry of Education and Knowledge Management in conjunction with UNICEF Enugu Field Office, is being held at Trust Resort Hotel, Makurdi, and target selected participants as master trainers who will cascade knowledge to teachers across the state.

Speaking at the event, the Nigeria Learning Passport Coordinator, Dr Harold Kpojime, explained that the initiative is designed to build a technical team that will drive digital learning adoption in Benue.

“We are here in Benue State today, because we just constituted a new technical team to support Nigeria and in passport in Benue State. So, this team will undergo for four days,” he said.

Kpojime added that the training covers “digital literacy, the use of NLP, digital literacy I’ve mentioned, blended in strategies for teachers and generative AI,” noting that the participants would serve as master trainers. So, they are the master trainers. For this training, they will conduct the training of trainees,” he stated.

According to him, the trained participants are expected to step down the knowledge to about 1,000 teachers across all local government areas in the state within the coming weeks, in collaboration with the State Ministry of Education and the State Universal Basic Education Board (SUBEB).

Highlighting the rationale behind the programme, he said, “The whole idea for this training is, we want our teachers to be digitally literate in the 21st century.  And you will agree with me that learning is changing. We no longer have to learn within the four walls of the classroom. Learning can be done remotely as well.”

He linked the initiative to lessons from the COVID-19 pandemic, noting that Nigeria lacked adequate structures for remote learning at the time, which led to the development of the Nigeria Learning Passport by Microsoft, UNICEF, the Global Partnership for Education and the Federal Ministry of Education.

Kpojime disclosed that since its launch in March 2022, 24 states have adopted the platform, with over 2.3 million users, including 1.9 million learners, and more than 16,000 curriculum-aligned lessons available for use by students, teachers and administrators.

On infrastructure support, he said development partners have facilitated connectivity for about 2,400 schools nationwide, while over 13,000 tablets have been provided, including 660 allocated to Benue State to support classroom deployment.

“Currently, Benue State out of the 1.23 million users on the platform Benu State has about 45,000 users on the platform, which is very, very encouraging,” he said.

He further revealed that efforts are ongoing to reconfigure and redeploy tablets to schools, adding that the programme is not intended to replace traditional teaching but to complement it.

“With NLP, it is not meant to replace classroom teaching but just to complement it. And it works both in online and offline mode,” he explained.

Kpojime, however, called for stronger government support and improved infrastructure, pointing out challenges such as poor connectivity, inadequate school facilities, and risks of theft of digital equipment.

“So, we are calling on the state government to key in into the idea, support development partners as well. And then we will also need political will so that these resources are used effectively,” he said.

On the role of the state government, UNICEF Desk Officer at the Ministry of Education, Emmanuel Ngulum, said the ministry is responsible for coordinating the programme and mobilising participants.

“The role of the ministry of education in the training is that ministry is the one that hosts the programme. UNICEF comes in to support. So, they provide the technical support to us, they are providing facilitators, while we come in to organise everything, invite participants that will come in and participate, and later on help in the education sector. That is the role of the ministry of education,” he said.

Ngulum noted that participants had shown strong engagement with the training and expressed optimism that they would replicate the knowledge at the grassroots.

“The programme, digital literacy, is a good programme, it’s a programme that everybody has to come in. Now, we are in the digital era, so we cannot run away from it,” he added.

Participants drawn from SUBEB, the Ministry of Education, and tertiary institutions also expressed satisfaction with the training.

A lecturer at the College of Education, Katsina-Ala, Labeh Innocent, described the experience as impactful.

“So far, so good, the training on Digital Literacy, Blended Learning and Configuration of NLP Tablets is key. In fact, there are some things I have just discovered here, even though I’m in computer science, there are some things I’m just discovering now,” he said.

Labe emphasised the importance of leveraging digital tools for learning, noting that devices such as smartphones can serve as instructional materials beyond social media use.

Also speaking, a SUBEB participant, Precious Terhemba, said the training had enhanced her understanding of the NLP platform.

“I have learned a lot. Like, on my personal self, I have learned navigating the Facebook, WhatsApp, WPS and so many things, considering that I didn’t know before now. so leaving here, we are going to transfer the knowledge to other colleagues and maybe teachers,” she said.

The training is expected to strengthen digital capacity among teachers in Benue State and accelerate the integration of technology into teaching and learning across schools.

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Kogi Residents Lament Abandonment of Idah Township Roads Project

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From Joseph Amedu, Lokoja

Residents of Idah, headquarters of Idah local government of Kogi State have called for the intervention of Governor Usman Ododo and his deputy Salifu Oyibo over the abandonment of Idah township roads by the contractor handling the project.

The residents in save our soul petition to the Governor, lamented that the contractor had virtually abandoned the project and disappeared from sight, leaving residents with untold hardship.

According to the petition signed by an Idah-based group known as “Ane-Igala Socio Cultural Development Association (AISCDA)” led by

Chief Akwu Goodman, “The people of Idah wish to bring to your urgent attention the deeply unsatisfactory state of the ongoing Idah Township Road Construction Project.

The petitioners said, “It is both disheartening and unacceptable that the contractor handling this critical infrastructure project has demonstrated gross incompetence and has abandoned the site.

“Even more troubling are credible concerns that some engineers and technical officers assigned to supervise the work have compromised standards and deviated from approved specifications.

“A project that was awarded nearly a year ago has, sadly, remained the way it was the day the governor flagged off its construction since July last year. There is little to show for the time, resources, and taxpayers’ money invested so far.

“This situation is not only disappointing but also a disservice to the good people of Idah and Kogi State at large.

We, the host and beneficiary community, can no longer stand by and watch this level of inefficiency and apparent neglect. We therefore respectfully call on the Kogi State Government to immediately terminate the contract due to non-performance.

“We also demand that the contractor be compelled to resume work immediately or the contract be re-awarded to a more competent and capable contractor with a proven track record of efficiency and capacity.

“We also demand a deployment of an independent team of engineers to the site to verify these claims and assess the current state of work.

“Furthermore, we expect the Deputy Governor, being a son of the constituency, to take a more active and supervisory role in ensuring that this project is delivered efficiently and to standard.

“Given that Idah is the seat of the revered Ata Igala, it is only proper that development projects within the kingdom reflect dignity, quality, and timely execution.

“We trust in your leadership, Your Excellency, and urge you to take swift and decisive action to address this matter in the interest of the people.

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Nigeria, Egypt, Madagascar Open with Wins at ITTF Championships

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Nigeria, Egypt and Madagascar opened their 2026 ITTF World Team Championships campaigns with hard-fought victories at Copper Box Arena in London.

Egypt started strongly but had to dig deep to beat Thailand 3-1.

Madagascar’s Fabio Rakotoarimanana proved decisive in a thrilling 3-2 win over Mongolia, while Nigeria edged Saudi Arabia 3-2 early Wednesday.

Nigeria’s victory hinged on talisman Quadri Aruna, who inspired the comeback after youngster Matthew Kuti lost both his matches.

Aruna and Olajide Omotayo stepped up to secure the opening group win, placing Nigeria in a strong position to reach the knockout stage.

Nigeria next face top seeds Hong Kong on Thursday, before concluding group matches against South Africa on Friday.

The top two teams in each group will progress to the knockout rounds.

Madagascar’s Group 3 clash with Mongolia was a rollercoaster encounter, swinging dramatically between both sides.

Rakotoarimanana and Antoine Razafinarivo gave Madagascar a 2-0 lead, but Mongolia rallied to level through Ankhbayar Bilguun and Temuulen Myandal.

 “With everything at stake, Fabio held his nerve,” officials said, as he beat Manlaijargal Munkh-Ochir in three tense deuce games.

In Group 6, Greece overcame a scare against Algeria to secure a 3-1 victory.

Ioannis Sgouropoulos opened with a 3-0 win over Stephane Ouaiche, before Mehdi Bouloussa levelled after edging Panagiotis Gionis 3-2.

Milhane Jellouli threatened an upset, but Georgios Stamatouros responded strongly to win 3-1 and restore Greece’s advantage.

Gionis redeemed himself in the fourth match, defeating Ouaiche in straight games to seal victory for Greece.

Meanwhile, Egypt remain the only African side to win in the women’s competition’s opening round.

Nigeria, Algeria and Rwanda all suffered defeats, leaving Egypt to carry Africa’s hopes in the early stages.

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