Bank Reaffirms Commitment To Lagos Economic Growth

The Board and Management of Tatum Bank have reaffirmed their commitment to supporting Lagos State’s economic growth as the young financial institution strengthens its foothold in Nigeria’s banking industry following a strong early performance and rapid regulatory compliance.

This comes as the bank’s leadership team recently paid a courtesy visit to the Governor of Lagos State, Babajide Sanwo-Olu, where discussions centred on partnership opportunities with Africa’s largest sub-national economy and the bank’s emerging role in the financial services ecosystem.

The delegation, led by Managing Director Niyi Adeseun, included Executive Director George Oko Oboh, Non-Executive Directors Tonya Lawani and Frank Okosun, and other members of management. The visit was part of efforts to formally introduce the institution to the state government while also acknowledging what the bank described as the administration’s developmental strides in strengthening Lagos’ economic base.

Speaking during the engagement, Adeseun highlighted the bank’s identity and early trajectory, noting that its name reflects a core philosophy of trust and safety in financial intermediation.

He explained that the name Tatum was derived from the Latin word Tutum, meaning a safe haven, and added that the institution was built to provide customers with security, trust, and confidence in their financial well-being.

Adeseun further informed the Governor that the Bank, which commenced operations in May 2025, achieved the Central Bank of Nigeria’s recapitalisation milestone within approximately ten months of operation, a feat he described as a strong testament to the confidence reposed in the Bank’s leadership by shareholders and critical stakeholders.

He also disclosed that despite operating for only eight months within the 2025 financial year, the Bank recorded a Profit Before Tax (PBT) of N1.7 billion, underscoring the institution’s strong growth trajectory and sound strategic direction.

Congratulating Governor Sanwo-Olu on the remarkable infrastructural and economic transformation witnessed across Lagos State, the Tatum Bank MD reaffirmed the Bank’s commitment to supporting the State’s developmental aspirations through strategic partnerships and collaborations.

He noted that the Bank had already commenced collaboration with the DAP Experience Centre by providing support for their “I Love Lagos” initiative by provisioning payment gateway infrastructure to drive seamless transaction experiences.

In his response, Governor Babajide Sanwo-Olu warmly welcomed the delegation and acknowledged Adeseun as a longtime friend and accomplished banking professional with extensive industry experience and a distinguished pedigree.

The Governor expressed delight at the story behind the Bank’s name, noting that it demonstrated intentionality in building a brand centred on safety, trust, and customer confidence.

He further emphasised that Lagos remains the largest sub-national economy in Africa and the economic nerve centre of Nigeria, reiterating the State Government’s commitment to supporting businesses and fostering partnerships that deepen financial inclusion and economic prosperity.

Governor Sanwo-Olu wished the Board and Management of Tatum Bank continued success and encouraged them to remain focused and steadfast in delivering value to customers and stakeholders.

Also present during the courtesy visit were the Deputy Chief of Staff to the Governor, Sam Egube, the Commissioner for Finance, Abayomi Oluyomi, and other senior officials of the Lagos State Government.