Dangote’s 6.85% Stake in Jaiz Bank Hits N25.3bn
Aliko Dangote’s stake in Jaiz Bank Plc, Nigeria’s pioneer non-interest bank, has risen to an estimated N25.34 billion, reflecting the value of his 6.85 per cent ownership in the financial institution.
Dangote Industries Limited holds 3.05 billion shares in Jaiz Bank, making the billionaire one of the major investors in the bank.
Based on Jaiz Bank’s share price of N8.30, the stake is valued at approximately N25.34 billion, equivalent to about $18.2 million at an exchange rate of N1,390 to the dollar.
The valuation also puts Jaiz Bank’s market capitalisation at about N370 billion.
Dangote’s investment comes as the bank continues to expand its operations and strengthen its financial performance.
Jaiz Bank operates under Islamic finance principles and does not charge or pay conventional interest. Instead, it provides financing through structures based on profit-sharing, asset-backed transactions and other Sharia-compliant arrangements.
Jaiz Bank records stronger financial performance
The bank reported significant growth in its financial performance in the first half of 2026.
Its total assets increased to N1.63 trillion as of June 30, 2026, from N1.28 trillion at the end of 2025, driven largely by higher cash balances and growth in financing assets.
Gross earnings rose to N57.94 billion during the six-month period, compared with N45.54 billion recorded in the corresponding period of 2025.
Profit before tax also increased to N15.42 billion from N14.75 billion, while earnings per share improved to 33.85 kobo from 32.4 kobo.
The bank’s customer current deposits stood at N831.05 billion, while unrestricted investment accounts reached N655.50 billion.
Jaiz Bank’s full-year 2025 performance was also strong, with revenue increasing to N102.8 billion from N82.9 billion.
Profit before tax rose by 28 per cent to N31.2 billion, while profit after tax climbed to N30.2 billion from N23.5 billion.
Dangote not the bank’s largest shareholder
Despite his sizeable investment, Dangote is not Jaiz Bank’s largest shareholder.
Mohammed Indimi, founder of Oriental Energy Resources, holds approximately 29.4 per cent of the bank, while the Islamic Development Bank, based in Jeddah, Saudi Arabia, owns about 5.6 per cent.
Dangote’s holding represents one of his notable investments outside his core interests in cement, sugar, salt, flour and oil refining.
The investment also comes at a time when Jaiz Bank is positioning itself for further growth in Nigeria’s expanding non-interest banking market.
With its growing asset base, rising earnings and increasing customer deposits, the bank has continued to attract attention from investors seeking exposure to Nigeria’s Islamic finance sector.
