Additionally, the Board has approved an annual income of N20
million for each non-executive director.
These decisions were disclosed in an official statement
signed by the bank’s Secretary, Mohammed Shehu, and filed with the Nigeria
Exchange Limited on Thursday.
Jaiz Bank, established in 2012, is a leading non-interest
financial institution in Nigeria. We offer ethical banking services to
individuals, corporate entities, and government organizations.
“That the director’s fees for the financial year ending 31st
December 2024 be and is at this moment fixed at N24m per annum for the chairman
and N20m per annum for every other Non-Executive Director,” he stated.
Shehu emphasized that the bank’s competitive remuneration
structure ensures adequate compensation for board members’ oversight and
strategic guidance responsibilities. The resolution on directors’ fees,
approved by shareholders at the AGM, reflects their trust in the board’s
leadership and decision-making capabilities.
Furthermore, the bank has declared a dividend of 4 kobo per
share, which will be distributed to shareholders registered in the company’s
records as of July 1, 2024.
“That a final dividend of 4 kobo per share be and is hereby
sanctioned and the directors be and are hereby authorized to pay the same on
Tuesday, 16” July 2024 to shareholders whose names appeared in the Company’s
Register of Members by close of business on Ist July 2024 subject to the
deduction of the appropriate Withholding Tax at the time of payment, as
recommended by the Board.”
Shehu noted that shareholders expressed their appreciation
for the dividend declaration, recognizing it as a positive result of Jaiz Bank’s
operational efforts in a challenging economic climate.
He further reported that shareholders re-elected both
Muhammadu Indimi and Muhammad Abdulmutallab to serve as Non-Executive
Directors. These directors, having completed their previous terms, were
eligible for re-election and received overwhelming support from shareholders to
continue their roles on the bank’s board.