Northern Billionaires split biggest chunk of Jaiz Bank’s N4.91bn dividend

Nigeria’s premier non-interest financial institution, Jaiz Bank Plc recently got shareholders approval for a massive 57 percent increase in its dividend payout to 11 kobo per share following a stellar financial year 2025.

With total assets crossing N1.2 trillion and profits surging 28 percent to cross N30 billion mark, the historic N4.91 billion total dividend pool has triggered a massive multimillion-naira windfall for its investors.

Unsurprisingly, the biggest winners of this payout are an elite circle of Northern billionaires and prominent industrial families who backed the pioneer ethical banking.

The biggest single winner of the dividend hike is Maiduguri-born oil tycoon Mohammed Indimi. Best known as the billionaire founder and chairman of Oriental Energy Resources, Indimi holds the largest individual stake in Jaiz Bank.

As the bank’s leading shareholder, his strategic diversification into ethical banking is yielding spectacular fruit, earning him over a billion naira in a single cash payout. He earned about N1.44 billion ($1.05 million) from his 13.09 billion shares or 29.36 percent controlling interest.

While Mohammed Indimi (from Borno State) and the Dantata family (a famous wealthy trading dynasty from Kano State) come from completely different lineage lines, they became connected as in-laws. One of Mohammed Indimi’s daughters, Rukayat Indimi, married Usman Dantata Jr. Usman Dantata Jr. is the son of the late prominent Kano industrialist and billionaire, Usman Dantata (who was a major pillar of the wider Dantata business empire).

This high-profile marital alliance effectively intertwined two of Northern Nigeria’s wealthiest and most influential billionaire families—meaning that the top two major shareholders of Jaiz Bank are not just boardroom associates, but are also part of the same extended familial network. Mohammed Indimi received approximately N1.44 billion from Jaiz Bank’s dividend payout.

Dantata Investment Securities…

The Dantata Family (Dantata Investment & Securities) is a major Institutional Shareholder in Jaiz Bank. The legendary Dantata business dynasty of Kano remains one of the foundational pillars of Jaiz Bank. Through Dantata Investment & Securities, the family holds a massive volume of shares in the lender. Led by boardroom veteran Tajudden Aminu Dantata, the family’s deep-rooted investment portfolio absorbed a multi-million naira slice of the total N4.91 billion dividend cake.

Dantata is a foundational name when it comes to Jaiz Bank, tied closely to both the bank’s original corporate backing and its current board leadership.

The relationship with the prominent Dantata family breaks down as follows:

Shift from Corporate to Individual Holding

Historically, Dantata Investment & Securities Limited was one of the single largest institutional shareholders in Jaiz Bank, holding roughly 11.65 percent to 12.49 percent of the bank’s total shares in past years.

Following a recent restructuring and recapitalisation of the bank, Dantata Investment & Securities divested its institutional block. Instead, the family’s core holding was directly consolidated under Tajuddeen Aminu Dantata. Along with his direct entity (Dantata Aminu Alhassan), they swallowed up the stake to remain one of the top six vital insider blocks holding the bank.

Because the family—specifically through Tajuddeen Dantata’s interests—maintains a dominant major stake estimated at around 7.97 percent (approximately 3.55 billion shares), they are among the highest earners from the bank’s latest dividend distribution.

The family does not just sit back as passive investors. Tajuddeen Aminu Dantata serves actively as a Non-Executive Director on the Board of Directors of Jaiz Bank Plc, representing the family’s legacy, extensive business network, and deep equity in Nigeria’s premier non-interest bank.

Dantata Investment & Securities Limited remains a prominent institutional block holder. It controls 11.65 percent of the bank’s total issued share capital (amounting to roughly 4.02 billion units of shares).

This makes the corporate entity, Dantata Investment & Securities Limited, the second-largest overall shareholder in Jaiz Bank, sitting right behind billionaire Mohammed Indimi.

With their 11.65 percent institutional stake, Dantata Investment & Securities Limited was a major beneficiary of the bank’s recently approved 11 kobo per share dividend for the 2025 financial year, taking home approximately N442.5 million in total payout.

Aliko Dangote, through Dangote Industries Limited is a major Corporate Shareholder in Jaiz Bank. The Africa’s richest man has long held a substantial interest in the bank through Dangote Industries Limited. While Dangote’s primary focus remains on manufacturing, food production, and energy, his early positioning in Nigeria’s first full-fledged non-interest bank continues to guarantee him and his conglomerate a highly lucrative annual return.

Dangote Industries Limited holds a 7.24 percent equity stake in Jaiz Bank, making it one of the top institutional blocks. On the bank’s recently approved 11 kobo per share dividend payout, Dangote Industries Limited pocketed roughly N354 million based on its substantial multi-billion shareholding.

Alongside other northern corporate titans like Dantata Investment & Securities (which holds 11.65 percent) and the bank’s founder Umaru Abdul Mutallab (10.13 percent), Aliko Dangote’s group has been a core backing pillar of Jaiz Bank since its early days as Nigeria’s premier non-interest bank.

The record massive dividend payout approved during the bank’s 14th Annual General Meeting highlights how the non-interest banking has grown from a niche financial experiment into a highly lucrative powerhouse.

What’s Next? Along with celebrating the heavy dividend payouts, shareholders have also given the green light for Jaiz Bank to raise an additional N150 billion in capital.

Under the leadership of its CEO Haruna Musa, Jaiz Bank aims to deploy these funds to aggressively scale operations in agriculture, green energy, and food preservation to rival conventional commercial banking giants.

What the record on major shareholders shows…

Mohammed Mustapha Bintube: Direct shareholding (25,602,000); Indirect shareholding (9,092,326,811) Estate of Alhassan Aminu Dantata.

Saádat Hamza Mohammed (4,096,154,4893) Althani Investment Limited

Mallam Mustapha Ibrahim (3,053,458,570) Dangote Industries Limited

AhmadIbrahim Mohammed Indimi (13,093,099,656)

Seedy Mohammed Njie 2,506,666,588 (Islamic Development Bank)

Muhammad Hadi Abdulmutallab ( 4,461,382,066) ( Umaru Abdulmutallab)

Ahmed Mohammed Indimi (13,093,099,656)

Tajuddeen Aminu Dantata (9,092,326,811 (Estate of Alhassan Aminu Dantata)

Alhassan Abdulkarim (10,475,050)