In a statement from the bank, it revealed that the programme, a first of its kind in Nigeria, is an additional tier-one capital Mudarabah Sukuk with loss-absorbency features designed to help TAJ Bank strengthen its capital adequacy ratio and general corporate business activities.
“The oversubscription of this Issuance demonstrates that the investment culture in the Country is still vibrant and there is sustained confidence in Nigeria’s path to economic recovery and stability. It also validates TAJ Bank’s position as a leading non-interest financial services provider.”
