Tatum Bank Reports N1.7 Billion Profit, Aims to Strengthen Lagos Partnership

Ayodeji Ake

The Board and Management of Tatum Bank have reiterated their commitment to supporting Lagos State’s economic growth as the young financial institution expands its presence in Nigeria’s banking sector after a strong start and swift regulatory compliance.

Although it has operated for only eight months in the 2025 financial year, the bank posted a Profit Before Tax (PBT) of N1.7 billion, highlighting its robust growth trajectory and sound strategic direction.

Managing Director and CEO Niyi Adeseun disclosed these figures during a courtesy visit to Lagos State Governor Babajide Sanwo‑Olu.

Adeseun was accompanied by Executive Director George Oko Oboh, Non‑Executive Directors Tonya Lawani and Frank Okosun, and other members of management.

The visit focused on partnership opportunities with Africa’s largest sub‑national economy and the bank’s emerging role in the financial services ecosystem.

It was part of an effort to formally introduce the institution to the state government and to acknowledge the administration’s developmental strides in strengthening Lagos’s economic base.

Adeseun highlighted the bank’s identity and early trajectory, explaining that the name Tatum derives from the Latin word “Tutum,” meaning a safe haven. He said the institution was built to give customers security, trust and confidence in their financial wellbeing.

According to Adeseun, the bank, which began operations in May 2025, reached the Central Bank of Nigeria’s recapitalisation milestone within about ten months, a testament to the confidence placed in the bank’s leadership by shareholders and key stakeholders.

Congratulating Governor Sanwo‑Olu on the remarkable infrastructural and economic transformation 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 begun collaborating with the DAP Experience Centre, providing payment‑gateway infrastructure for the “I Love Lagos” initiative to enable seamless transaction experiences.

In response, Governor Sanwo‑Olu welcomed the delegation, praised Adeseun as a long‑time friend and accomplished banking professional with extensive industry experience, and expressed delight at the story behind the bank’s name, noting its intentional focus on safety, trust and customer confidence.

The governor also emphasized that Lagos remains the largest sub‑national economy in Africa and Nigeria’s economic nerve centre, reaffirming 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 stay focused and steadfast in delivering value to customers and stakeholders.