Lotus Bank Limited, a Nigerian non-interest bank, has announced that it already meets the Central Bank of Nigeria’s (CBN) new minimum capital requirement for national banks, even prior to the CBN’s recent policy change. At a media gathering in Lagos, Executive Director Isiaka Ajani-Lawal, speaking on behalf of Managing Director Mrs. Kafilat Araoye, affirmed the bank’s solid capital base and commitment to ethical, inclusive banking practices.

The new CBN mandate sets the minimum capital base for national non-interest banks at N20 billion, while regional non-interest banks are required to maintain N10 billion. “Even before the CBN announced the new minimum capital base, we already have it as a national bank,” Ajani-Lawal stated, underscoring Lotus Bank’s preparedness and financial resilience.

Ajani-Lawal highlighted that Lotus Bank is distinguished by its focus on ethical banking principles, prioritizing responsible investments and prosperity aligned with ethical values. “We are committed to deepening financial inclusion and broadening the array of non-interest products available to the banked, unbanked, and under-banked population,” he added, emphasizing the bank’s aim to provide accessible, diverse financial options.

Lukman Rajih, Shariah Auditor at Lotus Bank, echoed this vision, stressing the bank’s dedication to serving Nigerians of all backgrounds. “Lotus Bank is here for Nigeria despite religious differences. We are here to create value and growth for all through digital innovation and best-in-class customer experience,” Rajih said.

Lotus Bank continues to position itself as a leader in ethical, non-interest banking in Nigeria, committed to financial inclusion, innovative services, and creating sustainable value for its customers.