Olufemi Adeyemi 

Jaiz Bank Plc has announced plans to raise its capital base to N150 billion, positioning itself ahead of regulatory requirements while unveiling a refreshed corporate identity that signals a new phase of growth for Nigeria’s premier non-interest bank.

At a press briefing in Abuja, the Managing Director and Chief Executive Officer, Haruna Musa, explained that the move aligns with the Central Bank of Nigeria’s (CBN) recapitalisation directive but goes beyond mere compliance. According to him, the bank has already surpassed the new minimum threshold set by the apex bank, making it one of the first in the industry to meet the requirement.

“Jaiz Bank is fully compliant with the capital directive of the Central Bank of Nigeria, well ahead of the stipulated deadline,” Musa said. “But we are not stopping there. Our shareholders had earlier approved recapitalisation up to N150 billion. Within the next one year, we are targeting a minimum of N100 billion, and within three years, we plan to scale up to N200 billion. This positions Jaiz Bank well above the regulatory minimum.”

The unveiling of the bank’s new brand identity, Musa noted, was more than a visual refresh. With a redesigned logo and a modern colour palette of deep blue, yellow, and grey, the rebrand aims to capture Jaiz Bank’s values of trust, optimism, and balance. Its new tagline, “With You for Life,” underscores the bank’s ambition to strengthen customer loyalty while modernising its platforms.

“This rebrand is a bold statement of intent,” Musa said. “It reflects who we are, what we stand for, and the future we are building.”

Alongside the capitalisation drive and brand overhaul, Jaiz Bank is relaunching its international card services in partnership with MasterCard from September 1, 2025. The bank had suspended international card usage in line with industry-wide constraints during the 2023 dollar scarcity. Musa linked the relaunch to recent foreign exchange market reforms under the current administration, which have restored relative stability.

The Managing Director, JAIZ Bank Plc, Haruna Musa at the unveiling of the bank's new corporate identity on Tuesday at the Corporate Head office, Abuja
To deepen customer engagement, Jaiz Bank also announced plans for a new digital platform, including a mobile app with enhanced features such as WhatsApp banking. “Through WhatsApp, customers will be able to conduct all their transactions seamlessly,” Musa said.

Looking ahead, the bank intends to expand beyond Nigeria into other African markets. Musa disclosed that Jaiz Bank has received invitations from the central banks of Ghana and Sierra Leone to establish operations, though its immediate priority remains consolidating its presence in Nigeria. A key part of that strategy is increased financing for small businesses, which the bank sees as a driver of economic inclusion.

Financial results for the first half of 2025 show a bank on steady footing. As of June 30, Jaiz Bank reported total assets of N964.09 billion, with liabilities of N892.62 billion and equity standing at N71.47 billion. Gross earnings for the second quarter rose to N45.19 billion from N36.16 billion in the same period of 2024. Profit before tax climbed to N14.76 billion, while profit after tax grew to N14.45 billion, reflecting robust income from financing and investment activities.

Earnings per share stood at 32.46 kobo, nearly flat compared to 32.67 kobo in the same quarter last year, even as profitability strengthened.

With stronger capital buffers, a revitalised brand, and fresh digital offerings, Jaiz Bank appears set to strengthen its role not only as Nigeria’s pioneer Islamic bank but also as a contender for regional leadership in Africa’s non-interest banking landscape.