Jaiz Bank seeks CBN approval of new executive directors

WorldStage Newsonline– Jaiz Bank, Nigeria’s premier non-interest (Islamic) bank has appointed some executive directors and forwarded their names to the Central Bank of Nigeria (CBN) for approval.

The national bank and a quoted public company owned by over 26,000 shareholders spread over the six geo-political zones of Nigeria in a note to the Nigerian Stock Exchange (NSE) on Monday  confirmed that its board of directors had an emergency meeting on July 22, 2020 where the decisions on the appointment and other issues  were taken.

The note signed by Mrs Ruskayat  Dahiru, the company Secretary did not disclose the names of the directors that are leaving and the ones stepping in, but promised to inform the public them when approvals are obtained from the apex bank.

Jaiz  Bank which grew  balance sheet from N12 billion in 2012 to about N62 billion, with asset financing of over N30 billion currently has 13 directors, mostly from the northern part of Nigeria.

They include Alhaji (Dr.) Umaru Abdul Mutallab- Chairman

Prominent business leader and former Minister of the Federal Republic of Nigeria, Chartered Accountant and Banker; former Executive Vice Chairman and Managing Director of United Bank for Africa (UBA) – the third largest bank in Nigeria and an affiliate of BNP Paribas. Also former Chairman of First Bank of Nigeria Plc, the oldest and biggest bank in Nigeria. He is a holder of one of the highest National Awards in Nigeria – Commander of the Order of the Niger (CON).

Hassan Usman- Managing Director/CEO

A trained accountant, Mr. Hassan Usman graduated with a first class degree in Accounting in 1985 from Ahmadu Bello University, Zaria, Nigeria and became an Associate Member of ICAN in 1989. He obtained a Post Graduate Diploma in Management in 1995 from Maastricht School of Management.

Mahe Mahmud Abubakar-bDeputy Managing Director

A seasoned banker of standing repute with over 20 years cognate banking experience, Abubakar Mahe is steering the business development drive of Jaiz Bank Plc. He is also a qualified Dealing Clerk of the Nigerian Stock Exchange.

Abdulfattah Olanrewaju Amoo- Executive Director, Operations/CFO

Mr. AbdulFattah Amoo is a shrewd professional banker, astute strategic planner and executor. He is vast in both Islamic and Conventional banking systems. His knowledge in professional Accounting practice, Banking and Finance spanned to about three decades, of which 15 years was at senior management positions.

Dr. Aminu Alhassan Dantata- Member

A renowned business man, he began his career as produce buyer in 1949 in the family business of Alhassan Dantata and Sons Limited. He became the Chairman and Managing Director of the Company, in 1960, a position he holds till date.

Seedy Njie Mohammed- Non-Executive Director

Mr. Seedy Mohammed Njie holds a Masters’ degree in Business Administration from the School of Oriental & African Studies, University of London. He is a fellow of the Association of Chartered Certified Accountant – UK as well as an Associate Professional Risk Manager amongst other professional certifications.

Alhaji (Dr.) Muhammadu Indimi- Member

He is a distinguished and highly successful businessman. Dr. Indimi is the sole Founder and Chairman of Oriental Energy Resources, Limited. He has over 20 years’ experience in the Nigerian Upstream Oil and Gas sector. Dr. Indimi is an astute business man with a notable presence in the international business arena.

Mallam Falalu Bello- Member

A 1978 Law graduate from Ahmadu Bello University, Zaria. Nigeria. He started his Legal career with the Kaduna State Government as Magistrate II and subsequently moved to Northern Nigeria Investment Company Limited as Senior Executive/Acting Company Secretary. He was later appointed Kaduna State Government Commissioner for Trade and Industry.

Hrh, (Engr.) Bello Mohammed Sani-Member

HRH, Emir of Bakura, Engr. Bello Muhammad Sani, OON, is a holder of Bachelor’s Degree in Engineering from the prestigious Ahmadu Bello University, Zaria, Nigeria. He is also a holder of M.Sc (Civil Engineering) from the University of Dundee Scotland – 1977.

Alhaji (Dr.) Musbahu Mohammad Bashir-Member

He is s the Chairman of Althani Group of Companies, and Cobalt International Services Limited since 2004. He is also a Director in the following companies, Bento Drill Nigeria Limited 1995, Offshore Technologies International Limited 1995, and Resource Capital Group 1995. Cobalt International Services Limited is a pre-shipment Inspection Agent for dry goods and bulk liquid cargos.

Alhaji (Dr.) Umaru Kwairanga- Member

Umaru Kwairanga (Sarkin Fulanin Gombe) holds a B.Sc (Hons) in Business Administration; MBA from the University of Maiduguri and M.Sc Finance & Governance from Liverpool John Moores University U.K (LTMU) Liverpool United Kingdom.

Alhaji Mukthar Sani Hanga- Member

He is a renowned business man and an administrator. He was one time Managing Director of Hanga Line Limited, Special Adviser to Governor Kabiru Gaya of Kano State on Sport and Youth Development, Member Board of Directors NISER Ibadan, Chairman NYSC Committee, Kano, Chairman Kano State Export Actualization Committee and Director, Northern Nigeria Investment Limited, Kaduna.

Alhaji Ibrahim Mamun Maude- Non-Executive Director

Alhaji Maude holds a Masters degree in Banking and Finance from the Bayero University Kano. He started his career after NYSC in 1979 as a Principal Accountant at the Kaduna State Water Board.

The bank’s half year results ended June 30, 2020 showed that profits for the period increased from N814.3 million in half year 2019 to N1.171 billion, signifying 43.87 percent increase.

The Bank’s balance sheet size increased by 11.57 percent from ₦167.273 billion as at December 31, 2019 to ₦186.625 billion at the end of June 30, 2020.

The Bank also grew its total income by 29.3 percent from N4.82 billion as at June 2019 to N6.23 billion at the end of June 2020, while earning per share rose by 174.48 percent from ₦1.45 in the first half of 2019 to ₦3.98 in the first half of 2020.

Shareholders of Jaiz Bank at its 8 th Annual General Meeting (AGM) in July approved the first dividend payment of N0.03 kobo per 50 kobo ordinary share for the year ended 2019.

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