Lotus Bank Limited, a Nigerian non-interest bank, has announced that it met the Central Bank of Nigeria’s (CBN) new minimum capital requirements even before the revised thresholds were introduced. The bank’s Executive Director, Isiaka Ajani-Lawal, representing Managing Director Mrs. Kafilat Araoye, shared this update at a media parley in Lagos, affirming the bank’s solid capital position as a national bank.
The CBN recently set the minimum capital requirement for national non-interest banks at N20 billion and N10 billion for regional non-interest banks. Ajani-Lawal emphasized Lotus Bank’s commitment to ethical banking, focusing on financial inclusion and broadening non-interest banking options for Nigeria’s banked, unbanked, and under-banked populations.
Lukman Rajih, Shariah Auditor at Lotus Bank, highlighted the bank’s mission to serve all Nigerians, regardless of religious backgrounds, through digital innovation and customer-focused services aimed at fostering value and growth across the country.
