Jaiz Bank taps ex-CBN director to lead compliance as recapitalisation deadline looms

Jaiz Bank Plc has appointed Tukur Galadima, a former director at the Central Bank of Nigeria (CBN), as its Chief Compliance Officer, bolstering its governance structure as the nation’s lenders race to meet stricter capital requirements.

The appointment, effective Dec. 1, places Galadima—a legal expert with over two decades of experience—at the helm of the non-interest lender’s regulatory strategy. His arrival comes at a critical juncture for the Nigerian banking sector, where institutions are grappling with a March 2026 recapitalisation deadline. According to the CBN, only 16 of the 34 licensed commercial banks have so far met the new thresholds, fueling a wave of potential mergers and intensifying the scrutiny on governance.

Galadima, who holds a PhD in Law from Ahmadu Bello University, brings a mix of public and private sector expertise, having served in various capacities across government institutions and private practice. He previously worked at the Central Bank of Nigeria, where he served in managerial roles and rose to the position of Assistant Director before leaving the bank in 2024. His mandate will likely focus on shielding the bank from regulatory headwinds as authorities tighten enforcement on everything from capital adequacy to data privacy.

The move underscores a broader scramble for seasoned compliance and risk professionals in Nigeria’s financial services industry. Traditional banks are increasingly competing with aggressive fintech upstarts for top talent. In February 2025, Moniepoint Inc. launched a recruitment drive targeting executives from major lenders like Access Bank and Stanbic IBTC to staff critical risk and product roles.

Beyond capital targets, financial institutions face mounting pressure from multiple regulators. The Corporate Affairs Commission has vowed to clamp down on unregistered Point of Sale (POS) operators used by agency banking giants like Opay and Moniepoint, while data protection authorities are enforcing stricter compliance protocols to prevent privacy breaches. For Jaiz Bank, Galadima’s appointment is a strategic hedge against this tightening regulatory net, ensuring the bank remains insulated from the punitive measures threatening to disrupt operations across the sector.