Nigeria’s fast-growing population of freelancers and Gen Z professionals has
struggled for years to find banking solutions that match their flexible, digital-first
lifestyles. With most traditional banks built around salaried earners and formal
employment structures, many young Nigerians are left using outdated systems
that don’t reflect how they earn or live.
Now, Jaiz Bank is stepping into that gap. The latest offering is built around flexible account access, ethical banking practices, and a fully digital onboarding process. Designed to remove the barriers that have long excluded independent workers and young professionals from mainstream financial services.
“This generation wants more than convenience; they want banking
that aligns with their values and the way they work,” said a Jaiz Bank
spokesperson. “We are building a solution that is transparent,
digital-first, and inclusive of freelancers and non-traditional earners.”
The digital onboarding process can be completed in minutes using a
smartphone, with only basic identity verification required. There are no hidden
charges, in line with the bank’s Islamic finance model, which also appeals to
many young users seeking ethical and transparent systems.
Jaiz Bank is also strengthening access to products like the Ijara Service, which
helps customers finance essential needs such as school fees, rent, and
medical bills, and the Jaiz Kids Account (Mudarabah), designed to help
children learn savings early and earn profit on deposits. For customers aiming
for property ownership, the Jaiz Home Finance (ijarah muntahiya bittamleek)
provides a partnership model to acquire a home gradually. At the same time,
EnerJaiz Finance offers flexible renewable energy solutions for individuals,
SMEs, and corporations seeking to adopt solar power.
Jaiz Bank is positioning the service as more than just a basic current account.
The bank says it will integrate features tailored to digital earners, including
budgeting tools, simplified payment options, and support for small business
growth.
The emphasis on ethics and transparency is also expected to resonate with
younger customers who are increasingly value-driven in their financial
decisions. “We understand that Gen Z is looking for brands they can trust,
especially when it comes to money,” said the Jaiz spokesperson.
“That’s why we’ve focused on eliminating hidden fees, simplifying
the process, and offering a solution that reflects what they care
about: control, honesty, and ease.”
The new offering reflects a broader trend within Nigeria’s banking sector, as
financial institutions increasingly target underserved segments, such as young
entrepreneurs and informal workers.
With over 60% of Nigeria’s population under the age of 25, experts say banks
will need to modernise not only their platforms, but also their assumptions
about how people earn, spend, and save.
Jaiz Bank’s strategy suggests a recognition that the future of finance in Nigeria
is both digital and personal. By adapting its model to meet the needs of a
younger, more mobile generation, the bank aims to foster long-term loyalty with
users who are often overlooked.
Whether this strategy translates into lasting market share remains to be seen,
but for now, it marks a clear step toward more inclusive banking for Nigeria’s
new workforce.
