Jaiz Bank Plc has appointed former Central Bank of Nigeria (CBN) director, Tukur Galadima, as its new Chief Compliance Officer, strengthening its governance and regulatory framework as Nigeria’s banking industry faces tighter oversight and a looming recapitalisation deadline.
The appointment, which took effect on December 1, places Galadima in charge of compliance and regulatory strategy at the non-interest lender during a critical period for the sector. Nigerian banks are under pressure to meet the CBN’s March 2026 recapitalisation deadline, with only 16 of the 34 licensed commercial banks having met the revised capital thresholds so far, according to the apex bank.
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Galadima brings more than 20 years of legal and regulatory experience spanning both the public and private sectors. He holds a PhD in Law from Ahmadu Bello University and previously served in several managerial roles at the CBN, rising to the rank of Assistant Director before exiting the regulator in 2024.
At Jaiz Bank, his role is expected to focus on navigating increasingly stringent regulatory requirements, including capital adequacy, corporate governance, anti-money laundering controls, and data protection compliance, as enforcement tightens across the financial system.
The appointment reflects a broader industry trend, as banks and fintechs compete aggressively for experienced compliance and risk professionals. In recent months, several fintech firms have stepped up recruitment of senior executives from traditional banks to strengthen governance and risk management functions amid heightened regulatory scrutiny.
Beyond recapitalisation, financial institutions are also contending with overlapping regulatory demands from agencies such as the Corporate Affairs Commission, which is moving against unregistered POS operators, and data protection authorities enforcing stricter privacy standards.
For Jaiz Bank, Galadima’s appointment signals a proactive move to reinforce compliance capacity and safeguard operations as Nigeria’s financial sector enters a more tightly regulated phase.
