TAJBank Wins A1 Credit Ratings From Agusto & Co, Datapro

TAJBank Limited has secured A1 credit ratings from Agusto & Co and Datapro, an upgrade from its previous Bbb+ assessment, reflecting stronger earnings, improved asset quality, and tighter risk controls in the 2025 financial year.
The ratings were announced in a Sunday statement issued on February 22, 2026, in Abuja, signed by the bank’s management, and reported in national media the following day. The award is final and reflects a higher degree of creditworthiness, indicating the bank’s improved capacity to meet financial obligations.
The agencies cited TAJBank’s high-quality asset base, operational efficiency, and strengthened risk management framework as key drivers of the upgrade. Analysts also noted the bank’s resilience amid a challenging macroeconomic backdrop, marked by currency volatility, inflationary pressure, and tighter liquidity conditions.
Founder and Chief Executive Hamid Joda said the upgrade validates the bank’s strategic focus on operational discipline and technology-led service delivery. He highlighted the bank’s commitment to real-time, technology-enabled banking services and robust risk management systems to sustain growth while safeguarding depositors and investors.
Executive Director Sherif Idi said the A1 ratings underscore sustained investment in human capital, digital infrastructure, and branch network expansion. He added that the upgrade affirms the bank’s governance and compliance frameworks meet evolving industry standards.
Industry analysts say the ratings strengthen TAJBank’s position in Nigeria’s non-interest banking segment, which has grown steadily as customers seek Shariah-compliant financial products. The improved rating may also reduce funding costs and enhance the bank’s ability to attract institutional deposits and strategic partnerships.
In September 2025, TAJBank announced that it had surpassed the revised minimum capital requirement set by the Central Bank of Nigeria for national non-interest banks. Under the thresholds introduced by the regulator in March 2024, banks were required to raise their capital base to N20 billion by March 2026 to strengthen financial system resilience. By exceeding this requirement ahead of the deadline, TAJBank signalled balance sheet strength and readiness for expansion.
As part of its post-recapitalisation strategy, the bank plans to deepen digital offerings and scale technology-driven services, investing in core banking systems and customer-facing platforms to consolidate its market position.
For investors and counterparties, the dual A1 ratings from Agusto & Co and Datapro provide independent validation of asset quality and governance standards. In a competitive banking environment shaped by regulatory tightening and rising credit risk, the stronger ratings can influence funding access, pricing, and market perception.
While Nigeria’s broader economy remains volatile, TAJBank’s upgraded credit profile positions it to compete more aggressively within the non-interest segment and to support financing activity across retail and commercial markets.