Nigeria’s market for interest-free investments has reached a robust valuation of N1.6 trillion, signaling increased trust from investors and broader engagement in Sharia-compliant financial options, according to the Securities and Exchange Commission (SEC).
In a media address held in the capital, SEC Director-General Dr. Emomotimi Agama shared this update as preparations ramp up for the upcoming 7th African International Conference on Islamic Finance (AICIF). Set to take place in Lagos next month, the event is a collaborative effort between the SEC, Metropolitan Law Firm, and Metropolitan Skills Ltd. Its central focus, “Africa Rising: Pathways to Prosperity and Inclusion,” underscores the potential of moral finance to drive economic stability and broad-based growth across the continent.
Dr. Agama emphasized the conference’s relevance, coming at the close of the Updated Nigerian Capital Market Strategy (2021-2025). He positioned it as a pivotal platform for outlining future strategies in eco-friendly and inclusive funding mechanisms throughout Africa.
“The focus of this edition urges us all to leverage principled investing for a fairer and more thriving continent,” Dr. Agama stated.
He pointed to Sukuk bonds as the cornerstone of this segment, noting that a recent offering saw demand exceed supply by more than sevenfold—a clear indicator of growing enthusiasm for these values-driven assets. “Such high levels of oversubscription highlight the solid faith investors place in these sustainable tools and the surging appetite for them,” he added.
Further bolstering the sector, the freshly enacted Investments and Securities Act (ISA) of 2025 has fortified regulatory support for Sharia-based offerings. This legislation equips the SEC with enhanced authority to approve pooled investment vehicles and diversify the range of ethical products on offer.
Looking ahead, the AICIF agenda promises in-depth dialogues on key areas like funding large-scale projects, sustainable and values-aligned ventures, support for farming initiatives, and how digital innovations are reshaping Sharia finance.
Ummahani Amin, Chairperson of AICIF and head of Metropolitan Law Firm, praised the gathering as a premier African forum fostering creativity, ethical standards, and long-term progress in the field of Islamic economics.
