UBA, GTBank-trained Staff Haruna Musa Becomes CEO of Jaiz Bank

UBA, GTBank-trained Staff Haruna Musa Becomes CEO of Jaiz Bank

  • Haruna Musa is set to replace Ahmed Hassan as the managing director/CEO of Jaiz Bank
  • The new MD has over 28 years of banking experience working across top Nigerian banks
  • In addition to Hassan, Umaru Kwaranga and Alhassan Dantata are also retiring from the bank

Legit.ng journalist Zainab Iwayemi has over three years of experience covering the Economy, Technology, and Capital Market.

Jaiz Bank has appointed Haruna Musa as its substantive managing director and chief executive officer.

The new MD/CEO will succeed Ahmed Hassan, who is set to retire by the end of the year.

According to document signed by Muhammed Shehu on the Nigerian Exchange, Haruna's appointment has been approved by the Central Bank of Nigeria.

UBA, GTBank trained staff Haruna Musa becomes CEO of Jaiz Bank
Haruna Musa, the new MD will succeed Ahmed Hassan who is set to retire by year-end. Photo Credit: Jaiz Bank
Source: UGC

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New MD has decades of experience

The new MD possesses over 28 years of experience in the banking industry. He spent 22 years in GTBank from March 2001 to October 2023, where he led as the executive director for eight years before exiting.

From March 2015 to October 2023, he served separately as a non-executive director with GT Bank, Cote D'Ivoire Ltd, and chairman of the board audit committee.

Before this, he worked with the United Bank for Africa (UBA) from June 1997 to December 1998.

From December 1998 to March 2001, he was a senior banking officer at FSB International Bank.

He also worked at the Federal Ministry of Agriculture, Abuja, as agricultural officer II from January 1993 to June 1997

Haruna is an alumnus of Ahmadu Bello University, Zaria, Bayero University, Kano, and Cranfield University, United Kingdom.

He is in the final stage of a PhD programme in Islamic Banking and Finance at the Universiti Utara in Malaysia.

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Other retirements from Jaiz Bank

Having served a maximum of 12 years comprising three terms and four years each, Umaru Kwaranga and Alhassan Dantata are also retiring from the bank board.

This, according to the bank, complies with the CBN circular dated February 24, 2023.

Legit.ng earlier reported that Nigeria's newest ethical bank, The Alternative Bank, debuted with a multi-city launch in three cities nationwide.

Jaiz Bank, Nigeria's largest Islamic bank, announces highest profit in 5 years

Legit.ng also reported that Jaiz Bank recorded reported its highest profit in five years, according to its 2022 financial statement submitted to the Nigerian exchange.

According to the statement, the bank's profit after tax in 2022 rose to N6.9 billion, 69% from N4.1 billion recorded in 2021.

Jaiz Bank also reported that its pre-tax profit accelerated by 59.5% to N6.6 billion.

Source: Legit.ng

Zainab Iwayemi avatar

Zainab Iwayemi (Business Editor) Zainab Iwayemi is a business journalist with over 5 years experience reporting activities in the stock market, tech, insurance, banking, and oil and gas sectors. She holds a Bachelor of Science (B.sc) degree in Sociology from the University of Ilorin, Kwara State. Before Legit.ng, she worked as a financial analyst at Nairametrics where she was rewarded for outstanding performance. She can be reached via zainab.iwayemi@corp.legit.ng

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