Infostride News reports that the appointment of Haruna Musa, a former Executive Director at GT Bank, as the Managing Director/CEO of Jaiz Bank Plc has been approved by the Central Bank of Nigeria (CBN). This corporate development was disclosed through a filing on the NGX website. Musa is slated to succeed Ahmed A. Hassan, who is set to retire at the close of 2023, concluding his tenure as the current CEO of Jaiz Bank.
Haruna Musa brings an extensive banking background of over 28 years to his new role, with a significant portion of his career spent at GT Bank. Notably, he served as an executive director for eight years at GT Bank. His journey in the banking sector commenced in 1997 at United Bank for Africa (UBA), where he held the position of Banking Officer. Subsequently, he transitioned to the now-defunct FSB International Bank (now Fidelity Bank) in December 1998. In March 2001, he joined GT Bank.
His career at GT Bank reached a pinnacle with his role as Executive Director/Divisional Head, North East, Abuja, and North Central. Following the completion of his term, Haruna Musa departed from GT Bank in October 2023. Notably, besides his responsibilities in GT Bank Nigeria, he also served as a Non-Executive Director at GT Bank Cote D’Ivoire and chaired the Ivorian bank’s board audit committee.
Academically, Haruna Musa is an alumnus of Ahmadu Bello University (ABU), where he pursued a course in Agriculture and graduated in 1991. Furthering his education, he obtained an MBA from Bayero University Kano (BUK) in 1998. His academic journey also includes earning an MSc in Finance and Management from Cranfield University, UK, in 2009. Currently, he is pursuing a PhD in Islamic Banking and Finance at Universiti Utara in Malaysia.
Jaiz Bank, the institution Musa is set to lead, operates as the only bank in Nigeria adhering to Islamic banking principles. The bank recorded a notable financial performance for the nine months ending September 2023, with gross earnings reaching N31.1 billion. This figure represents a significant 39% year-on-year growth compared to the corresponding period in 2022.
It is noteworthy that GT Bank has a track record of producing high-caliber banking professionals who often assume leadership roles in other financial institutions. Haruna Musa joins the ranks of notable GT Bank alumni who have gone on to head other banks in Nigeria. This list includes Herbert Wigwe, former Chairman of Access Holdings Plc and current chairman of Access Bank (UK), Aigboje Aig-Imoukhuede, former Managing Director of Access Bank, Roosevelt Ogbonna, current CEO of Access Bank, Bolaji Lawal, Managing Director of Ecobank Nigeria, and Akinola George-Taylor, Managing Director of Heritage Bank.
In conclusion, Haruna Musa’s appointment as the Managing Director/CEO of Jaiz Bank not only marks a significant milestone in his career but also reflects the continued influence of GT Bank in shaping the leadership landscape of the Nigerian banking sector. The move is expected to contribute to Jaiz Bank’s ongoing commitment to Islamic banking principles and its overall growth trajectory. Infostride News will continue to monitor and report on developments in the Nigerian financial industry.
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