By Babajide Komolafe

Tatum Bank has intensified moves to establish strategic partnerships with the Lagos State Government as part of efforts to support economic growth, financial inclusion and infrastructure development in the state.

This followed a courtesy visit by the Board and Management of the bank to Lagos State Governor, Mr. Babajide Sanwo-Olu, at the Lagos House, Alausa.

Leading the delegation, Managing Director of Tatum Bank, Mr. Niyi Adeseun, said the visit was to formally introduce the bank to the state government and commend the administration for its developmental strides and contributions to economic growth.

Adeseun explained that the name “Tatum” was derived from the Latin word “Tutum,” meaning “a safe haven,” noting that it reflected the bank’s commitment to security, trust and customer confidence.

According to him, the bank, which commenced operations in May 2025, achieved the Central Bank of Nigeria, CBN, recapitalisation requirement within about 10 months of operations, describing the feat as a reflection of stakeholders’ confidence in the institution.

He also disclosed that the bank recorded Profit Before Tax, PBT, of N1.7 billion within eight months of operations in the 2025 financial year.

He said: “Despite being a young institution, we are focused on building a strong financial services platform that supports businesses, SMEs and individuals while contributing to economic development.”

Adeseun further revealed that the bank had commenced collaboration with the DAP Experience Centre by supporting the “I Love Lagos” initiative through the provision of payment gateway infrastructure to facilitate seamless digital transactions.

Responding, Governor Sanwo-Olu welcomed the delegation and described Adeseun as a seasoned banking professional with vast industry experience.

The governor commended the philosophy behind the bank’s name, saying it reflected deliberate efforts at building a brand anchored on safety, trust and reliability.

Sanwo-Olu reiterated that Lagos remained the largest sub-national economy in Africa and Nigeria’s economic nerve centre, stressing that his administration would continue to support businesses and partnerships capable of deepening financial inclusion and sustaining economic prosperity.

He also wished the bank success in its operations and urged its management to remain focused on delivering value to customers and stakeholders.