Ayodeji Ake
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.
Despite operating for only eight months within the 2025 financial year, the bank recorded a Profit Before Tax (PBT) of N1.7 billion, underscoring its strong growth trajectory and sound strategic direction.
The Managing Director/CEO of Tatum Bank, Niyi Adeseun, disclosed these during a courtesy visit to the Governor of Lagos State, Babajide Sanwo-Olu.
Adeseun led a team that ncluded Executive Director, George Oko Oboh, Non-Executive Directors, Tonya Lawani, Frank Okosun and other members of management.
Discussions during the visit were centred on partnership opportunities with Africa’s largest sub national economy and the bank’s emerging role in the financial services ecosystem.
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.
Adeseun highlighted both the identity and early trajectory of the bank, 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, adding that the institution was built to provide customers with security, trust and confidence in their financial wellbeing.
According to Adeseun, the bank, which commenced operations in May 2025, achieved the Central Bank of Nigeria’s recapitalisation milestone within approximately 10 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.
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 developmental aspirations of the State 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 through the provisioning of payment gateway infrastructure to drive seamless transaction experiences.
In his response, Governor Sanwo-Olu warmly welcomed the delegation and acknowledged Adeseun as a long-time friend and accomplished banking professional with extensive industry experience and 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.
