Jaiz Bank Plc has announced plans to introduce collateral-free financing products for small and medium-scale enterprises (SMEs), pending approval from the Central Bank of Nigeria (CBN).
Speaking after the bank’s 14th Annual General Meeting in Abuja, the Managing Director and Chief Executive Officer, Dr. Haruna Musa, said the proposed products would allow the bank to assess borrowers based on their cash flow rather than requiring traditional collateral.
According to him, the initiative is designed to improve access to finance for SMEs and retail customers while promoting financial inclusion. The bank also plans to leverage technology to enable customers to apply for and access financing remotely through digital channels.
Musa explained that the new lending model could rely on loan guarantees and signed Global Standing Instruction (GSI) mandates instead of conventional collateral requirements, making it easier for small businesses to obtain funding.
He added that the initiative aligns with the bank’s broader strategy of supporting agriculture, SMEs, and underserved communities across Nigeria through digital banking and agency banking networks.
The Jaiz Bank chief also disclosed that shareholders approved plans to raise an additional ₦150 billion in capital to strengthen the bank’s balance sheet and support larger investments in agriculture, manufacturing, export trade, renewable energy, and food security projects.
He noted that the bank’s total assets grew by about 19 per cent to nearly ₦1.3 trillion in 2025, while customer deposits rose by more than 24 per cent to over ₦1.12 trillion. Profit before tax increased by 28 per cent to ₦31.24 billion during the year.
