• Tuesday, July 16, 2024
businessday logo


Sirajo takes over as MD of Jaiz Bank


Sirajo Salisu takes over from Hassan Usman as Managing Director/Chief Executive Officer of Jaiz Bank Plc. He is expected to begin his tenure on Monday, October 17, 2022.

The pioneer Islamic, non-interest bank issued a press statement on Saturday, to formally announce the change of leadership to shareholders, staff, the banking community, and the general public.

“Dr. Sirajo Salisu, today, assumed duty as Managing Director/Chief Executive of Jaiz Bank Plc. He takes over from Hassan Usman, whose tenure ended after retirement on 15th October,” the statement reads.

Sirajo assured stakeholders of building on the achievements of the former MD to propel the bank to a greater height.

“As we look ahead into the next phase of our bank, we will continually show up as our best selves and meet the challenges of our world so that we can build a future in which we thrive together,” Sirajo said in the statement.

Read also: Jaiz Bank mulls Holdco structure after 10 years of banking

The bank sees Sirajo’s appointment as not only the right step in the right direction but as a way of rewarding highly talented staff who have driven professionalism and the ethos of the Islamic banking profession to their zenith.

The bank revealed that until his appointment, “Sirajo had held several senior and executive positions in the bank, such as Regional Manager South, Chief Risk Officer, and Executive Director, Business Development North, where he served diligently in providing key strategic direction to grow the bank’s business in the northern region of the country.”

“Prior to joining Jaiz Bank Plc. in 2016, Sirajo served as the Managing Director/CEO of Arab Gambian Islamic Bank (AGIB), a position he held for six (6) years,” the bank noted.

“Sirajo is a 1991 BSc. Economics graduate from Bayero University Kano. He has an M.Sc. in Monetary Economics from the University of Port Harcourt and a Ph.D. in Agricultural Economics from Abubakar Tafawa Balewa University, Bauchi.

“He also obtained another Master’s Degree in Islamic Banking and Finance from Bayero University Kano.

“He is also a Fellow of the Institute of Credit Administration (FICA) and an Honorary Senior Member of the Chartered Institute of Bankers of Nigeria (CIBN).”

The bank used the opportunity to wish him success in his new position as their MD/CEO.

“The Board and management wish him success in this role and are optimistic that this appointment will positively impact the bank.” The bank concluded.

Meanwhile, the bank, which has been the seventh most traded stock on the Nigerian Stock Exchange over the past three months (July 18-Oct 14, 2022), is expected to continue on its upward movement following this change.

Jaizbank has traded a total volume of 533 million shares—in 2,524 deals—valued at N453 million over the period. The closing share price of the bank as of Friday, October 14, 2022 was N0.90. This is according to information gathered from the Nigerian Exchange Limited.