Economy
TAJBank Ready To Issue N20bn Mudarabah Sukuk, Eyes N100bn Programme

TAJBank Ready To Issue N20bn Mudarabah Sukuk, Eyes N100bn Programme
TAJBank ready to issue N20bn Mudarabah Sukuk, eyes N100bn programme. TAJBank, Nigeria’s leading non-interest bank, is set to issue a ₦20 billion Mudarabah Sukuk bond as part of its strategy to strengthen its Additional Tier 1 capital and support its business expansion.
The bond issuance is part of the bank’s ₦100 billion Sukuk programme and follows the successful launch of Nigeria’s first-ever ₦10 billion Sukuk bond on the Nigerian Exchange (NGX) in 2023.
The latest offering provides individuals and institutions with a unique opportunity to invest in an ethical financial instrument with an attractive 20.5% annual return.
The Mudarabah Sukuk is structured to provide a stable and ethical investment avenue, allowing investors to participate in profit-sharing ventures while reinforcing TAJBank’s commitment to financial inclusion and innovative financial solutions.
According to the bank’s management, the terms and conditions of the Sukuk are undergoing final regulatory approvals and will be accessible to both individual and corporate investors. The initiative aims to offer a convenient and reliable income source, easily accessible online.
Speaking on the upcoming ₦20 billion Sukuk listing on the NGX, TAJBank’s Founder/CEO, Mr. Hamid Joda, expressed excitement about the investment opportunity, stating:
“We are thrilled to bring this Mudarabah Sukuk to the market, providing investors with a compelling ethical investment option.

TAJBank
Listing on the NGX will broaden investor participation and enable them to benefit from our profit-sharing model.”
Interested investors are encouraged to consult their financial advisors or visit www.tajbank.com for more details on the Sukuk issuance and listing process.
Economy
Strike: NASU Gives WAEC 7-Day Ultimatum

Strike: NASU Gives WAEC 7-Day Ultimatum
Strike: NASU gives WAEC 7-day ultimatum. The Non-Academic Staff Union of Educational and Associated Institutions (NASU) has issued a seven-day ultimatum to the West African Examinations Council (WAEC) management to address a four-point demand related to workers’ welfare and alleged victimization of labor leaders.

NASU Gives WAEC 7-Day
Speaking at a press conference in Lagos on Monday, NASU General Secretary, Prince Peters Adeyemi, warned that all WAEC offices across the country would be shut down from Monday, March 24, if the demands are not met.
Economy
Akwa Ibom LG Chairman Sets To Report Construction Company For Poor Performance

Akwa Ibom LG Chairman Sets To Report Construction Company For Poor Performance
Akwa Ibom LG Chairman sets to report construction company for poor performance. Ikot Ekpene Chairman, Hon. Aniefiok Nkom, has threatened to send digital copies of the Ikot Ekpene – Aba road one-lane construction to Senate President, Senator Godswill Akpabio, despite allegedly underperforming as a council chairman in recent months.
Nkom, whose achievements have been limited to painting the old Ikot Ekpene council secretariat, grading truck parks, and providing limited educational support JAMB forms, made this announcement during a peaceful demonstration by students of Akwa Ibom State Polytechnic, Ikot Osurua.
The students were protesting persistent brutality and harassment by officers from the Nigerian Police Force, Ikot Ekpene Division, and QIU, Ikot Ekpene Division.
The council chairman accused the construction company, Messrs CGGC Global Projects Nigeria Limited, of building a one-lane carriage instead of the approved dualized road, referencing Contract No.6569 and Project Code ERGP12141436 under the Federal Ministry of Works and Housing, awarded in 2019.
Nkom stated, “For those of us from Ikot Ekpene, you have seen this road. For those coming from Aba, you can see where they stopped the dual carriage.
Now, they are constructing a single lane to Ikot Ekpene. This is what we are talking about when we mention injustice.”

Akwa Ibom
He further mentioned his intention to document the road’s condition with NTA and send the footage to the Senate President, calling the situation a serious embarrassment to Akwa Ibom State.
Addressing the issue of police brutality against Akwa Ibom State Polytechnic students, Nkom asserted that any policeman or army officer who harasses a student without any offense will face consequences, urging students to always carry their identity cards.
Economy
PenOp Vows To Comply With PenCom’s 3-Day Pension Payment Directive

PenOp Vows To Comply With PenCom’s 3-Day Pension Payment Directive
PenOp vows to comply with PenCom’s 3-day pension payment directive. The Pension Fund Operators Association of Nigeria (PenOp) has assured the National Pension Commission (PenCom) that its members will comply with the recent directive to settle all pension benefits within three working days.
The National Pension Commission has mandated Pension Fund Administrators (PFAs) and fund custodians to approve and pay pension benefits to eligible applicants within three working days of receiving complete applications.
Oguche Agudah, chief executive officer of PenOp, speaking in Lagos, said that the directive was positive and could foster accountability.
Mr Agudah said PenOp members were fully aligned with PenCom’s efforts to enhance the efficiency and effectiveness of the pension system in Nigeria.
He said, “This is a good development for pensioners, Pension Fund Administrators (PFAs), and the entire system.

PenOp Vows To Comply
“PFAs are going to comply with this new directive, which is set to begin in June. We will ensure service levels are maintained, and we will also ensure people get their money as and when due.
“We recognise the importance of timely payment of pension benefits to retirees, and we are committed to working with PenCom to achieve this goal.”
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