Tag: Jaiz Bank Plc

The board and management of Jaiz Bank Plc have notified the Nigerian Exchange Limited (NGX), its shareholders and all relevant stakeholders, of the appointment of a new Company Secretary in the person of Mr. Shehu Mohammed.

In a notice dated 7th October, 2021 and signed by an Executive Director of the Bank in charge of its Business Development in North, Sirajo Salisu, the Non-interest bank announced that Mr. Mohammed will also serve as its Legal Adviser.

Mr. Shehu Mohammed’s appointment took effect from 6th October, 2021. He took over from Mrs. Rukayat Dahiru who was recently promoted to Chief Compliance Officer .

The newly appointed Company Secretary brings on board a wealth of experience as a senior legal adviser with extensive knowledge of the banking industry.

About Mr. Shehu Mohammed

Shehu Mohammed is an experienced legal practitioner with over 25 years’ experience. His areas of technical competence include but not limited to; litigation management, company secretariat functions, corporate governance, among others.

He started his Banking career in 2001 with NUB International Bank Ltd as Legal Officer and later Assistant Company Secretary/Legal Adviser. He worked in other Banks and Fin Insurance Ltd where he held positions of Acting Group Head Legal and Substantive Company Secretary/Legal Adviser respectively. In February 2017, he was appointed Company Secretary of Unity Bank Plc, a position he held until the end of 2019. He later joined Al-Fill Legal Consult as a Managing Partner.

Mohammed is an alumnus of the prestigious Ahmadu Bello University, Zaria and Bayero University, Kano. He is a member of various reputable professional bodies such as the Nigerian Bar Association (NBA), the Institute of Chartered Economists of Nigeria (ICEN) and the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN).

In addition, he has attended many relevant trainings including but not limited to the Anti-Money Laundering and Drug Abuse, Securities and Credit Documentation, among others.

In conclusion, the Board and Management of the Bank wished him all the best on his new role.

 

 

JAIZ Bank Plc released its earnings forecasts for the fourth quarter of the year ending 31st of December, 2021 (Q4, 2021).

• Gross earnings projection of N7.15 billion.
• Interest income is projected at N6.8 billion.
• Net operating income is projected at N4.7 billion.
• Operating expenses projection of N3.53 billion.
• Tax is projected at N114.8 million.
• Profit after tax is projected at N1.03 billion.

See link to forecasts.

Jaiz Bank Plc has secured an additional $25million line of financing (LOF) from Islamic Corporation for the Development of the Private Sector (ICD),  to support Small and Medium Enterprises (SMEs) in Nigeria.

This is according to a statement signed by the bank’s secretary, Mrs Rukayat Dahiru, and uploaded on the website of the Nigerian Exchange Limited (NGX).

According to the notice, the non-interest bank had been in partnership with the ICD since 2018, when it granted a $20m Line of Finance (LOF) to support SMEs in the country. Having effectively disbursed the funds to eligible SMEs and subsequently repaid the LOF, Jaiz Bank approached and obtained an additional $25m from ICD for onward disbursement.

The bank further revealed that it secured the $25m LOF earlier in February this year, but could not proceed with the signing ceremony due to COVID-19 restrictions. However, the formal agreement was signed on the 2nd of September, 2021 during the recently concluded Islamic Development Bank (IsDB) annual meeting which was held in Tashkent, Uzbekistan. The meeting afforded Chief Executives of both institutions the opportunity to meet and finalize the deal.

What you should know:

• The Islamic Corporation for the Development of the Private Sector (ICD) is a multilateral development financial institution and a member of the Islamic Development Bank (IsDB) Group. ICD was established in November 199 to support the economic development of its member countries through the provision of finance for private sector projects, and promotion of competition/entrepreneurship, while encouraging cross border investments.

JAIZ Bank Plc has notified the Nigerian Exchange Group Limited that Alhaji Aminu Alhassan Dantata, a Non-Executive Director in the bank, has acquired 178,827,232 additional units of its shares, worth ₦101.9 million.

This is contained in a notice signed by the company’s secretary, Rukayat Oziama Dahiru, and forwarded to the Nigerian Exchange Limited (NGX).

According to the disclosure, the transaction which took place on the 19th and 23rd of July, 2021 at the floor of the NGX, saw the director purchased additional 178.83 million shares at a price of 57 kobo per share. This put the total consideration for the shares purchased by the Non-Executive director at ₦101,931,522.24.

It is pertinent to note that the disclosure is in line with The Exchange’s policy on insider dealings. It is imperative because it helps to engender transparency and maintain public trust in the financial system. Trade by insiders, particularly purchases, often demonstrates confidence in the financial performance of the companies that they run.

What you should know:

• As at June 2021, Alh. Aminu Alhassan Dantata holds about 1,565,210,516 units of Jaiz Bank shares, translating to about 5.31% of the total shareholding in the bank. The recent addition thereby raises his total shareholdings to 1,744,037,748 units.
• Jaiz Bank Plc closed trading today 18th of August, 2021 at 60 kobo/share on the floor of the Nigerian Exchange Limited (NGX).

 

 

JAIZ Bank Plc has announced that its board of directors would meet on Tuesday, August 24, 2021 to consider among other things, the appointment of new directors into its board.

Consequently, the firm also announced that it would observe its closed period from August 6, 2021 until the outcome of the meeting is published with the Nigerian Exchange Group Limited.

This is according to a disclosure signed by the Bank’s secretary, Rukayat Dahiru and sent to the Nigerian Exchange Group Limited (NGX).

Accordingly, the announcement of a closed period is in line with Rule 17.18(a) (Closed Period Rules) of the NGX’s Rule Book (2015). During this period, individuals with sensitive information about stock performance such as; Directors, managers, employees, consultants and their connected persons, are prohibited from trading in the shares of the bank either directly or indirectly.

What you should know:

• JAIZ Bank Plc had earlier posted an impressive half year performance, recording an 83% increase in its profit after tax figures for the period ended June 30, 2021 (HY, 2021). During the aforementioned period, the bank posted a PAT of N1.99 billion.
• The bank closed trading for the week ended 6th of August, 2021 with a share price of 62 kobo.

For more information about the board meeting, click HERE.

Jaiz Bank Plc has released its earnings forecasts for the third quarter of 2021 (Q3 2021).

• Gross Earnings is projected to hit N6.9 billion.
• Interest income is projected to hit N6.57 billion.
• Net operating income projection of N4.64 billion.
• Operating expenses projections of N3.54 billion.
• Tax is projected at N110.5 million
• Profit after tax is projected at N994.88 million.

See link to forecasts.

The Board of Directors of JAIZ Bank Plc has proposed a sum of N884 million as dividend to be paid to shareholders for the period ended 31st of December 2020.

This is according to a disclosure signed by the company’s secretary, Rukayat Dahiru, and sent to the Nigerian Stock Exchange.

According to the notice, the approval of the proposed dividends will see the Non-interest bank pay out a dividend of 3 kobo for each of the outstanding 29,464,249,300 ordinary shares of the company, held by its shareholders.

Despite posting double-digit growth in most of its key financial metrics in FY 2020, such as; PAT (+19%), PBT(+45%), etc., it is pertinent to note that JAIZ Bank’s proposed dividend remained unchanged when compared with what it declared last year (FY 2019: 3 kobo)

It is also worthy to note that the proposed dividend if ratified will be disbursed to qualified shareholders’, whose names appear in the Register of Members as at close of trading on 10th of June, 2021.

In addition, shareholders are urged to complete the e-dividend registration and submit to the Registrar (Africa Prudential Plc) or their respective banks.

What you should know:

• Jaiz Bank Plc earlier reported a profit after tax of N2.9 billion in FY 2020
• It closed trading yesterday 8th of April, 2021 with a share price of 62 kobo

For more information about the proposed dividend, click HERE.