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AICIF 2025: Metropolitan, SEC to Expand Islamic Financing Ecosystem in Nigeria
AICIF 2025: Metropolitan, SEC to Expand Islamic Financing Ecosystem in Nigeria
By: Michael Mike
The Securities and Exchange Commission (SEC) Nigeria has pledged to deepen the country’s non-interest finance market in partnership with Metropolitan Skills Limited and Metropolitan Law Firm. As Africa’s leading Islamic finance platform, the African International Conference on Islamic Finance (AICIF) convened its 2025 Pitch Competition in Abuja on Saturday.
The event, held in Abuja, was part of the pre-conference activities leading up to the 7th AICIF, scheduled for November. It brought together innovators, regulators, investors, and entrepreneurs under the theme: “Africa Emerging: A Prosperous and Inclusive Outlook.”

Delivering her opening remarks, Ummahani Ahmad Amin, Conference Chair and Chairman, Board of Directors of Metropolitan Skills Limited, said the collaboration with SEC was a “historic step” for positioning Nigeria at the centre of Africa’s ethical finance revolution.
“Together, we are working to strengthen the foundation of Islamic finance across Africa, expanding its reach into the capital markets to create new opportunities for inclusive and sustainable growth,” she said.

“Islamic finance is not just an abstract set of ideals. Its principles of fairness, risk-sharing, and social responsibility are practical tools for building economies that serve people, not just profits.”
For the SEC, the collaboration signals its commitment to broadening Nigeria’s financial ecosystem. Abdulkadir Abbas, Director at the SEC, told PRNigeria that the regulator has already developed a robust framework for non-interest capital markets.
“As regulators of the capital market, we are keen on developing all segments, including non-interest finance. We have frameworks that cover fintechs, crowdfunding, and even Sharia-compliant tokenisation. This partnership allows us to create awareness, attract innovators, and build a resilient, ethical finance system in Nigeria,” Abbas said.
He further highlighted the SEC’s 10-year master plan for non-interest finance, which is set to expire this year, noting that the regulator had introduced innovative products such as Sukuk to support infrastructure financing.
Ms Yinlaifa Edolo, Managing Director of Metropolitan Skills Ltd., explained that hosting the pitch competition ahead of the leading conference reflects Metropolitan’s resolve to build an ecosystem where ethical finance drives real innovation.

“The N5 million grant is not just a prize. It serves as seed capital for transforming bold ideas into enterprises that can reshape entire industries. Our focus is to inspire startups, support small businesses, and show that halal and ethical finance can power inclusive growth in Africa,” she said.
Backing this view, Abimbola Ajinibi, Regional Manager, First Trustees, a longtime partner of Metropolitan, said the last decade has witnessed a remarkable transformation in Nigeria’s Islamic finance space.
“Ten years ago, there was little awareness about instruments like Waqf, Sukuk, or ethical crowdfunding. Today, we have federal and state Sukuk projects worth over a trillion naira financing roads, schools, and hospitals. We’ve moved from theory to real impact,” he said.
Industry experts believe that by incorporating Islamic finance principles into Africa’s economic development, countries like Nigeria can establish more resilient financial systems that address unemployment, poverty, and inequality while remaining competitive in global markets.
As preparations build up to the November AICIF conference, the Abuja pitch competition has set the stage for regulators, innovators, and investors to work together in driving Africa’s halal economy and advancing inclusive prosperity.
AICIF 2025: Metropolitan, SEC to Expand Islamic Financing Ecosystem in Nigeria
News
Tension in Kebbi as bandits attack GGCSS Maga, kill vice Principal , abduct students
Tension in Kebbi as bandits attack GGCSS Maga, kill vice Principal , abduct students
By: Zagazola Makama
Tension has gripped the Zuru Emirate of Kebbi State following a late-night attack on Government Girls Comprehensive Senior Secondary School (GGCSS) Maga in Danko/Wasagu Local Government Area, during which bandits killed the school’s Vice Principal, Malam Hassan Yakubu Makuku, and abducted an unspecified number of students.
A resident, Malama Murjanatu Hassan Gishiri, who confirmed the incident on Monday, said the attackers stormed the school at night and operated freely, throwing the community into panic.
She described the invasion as “a heartbreaking tragedy that has thrown the entire region into deep fear and mourning”, adding that the bandits moved in large numbers and overpowered the area without resistance.
Gishiri said the late Vice Principal was shot while attempting to protect students from the attackers.
“People in the community have been offering prayers for his soul, asking Allah to grant him mercy, a peaceful resting place, and to console his family over this painful loss,” she said.
Efforts to get official comments from security agencies proved unsuccessful as of the time of filing this report.
Residents appealed to the government to act swiftly to rescue the abducted students and to strengthen security around schools and communities in the area, which have suffered repeated attacks by bandits.
Tension in Kebbi as bandits attack GGCSS Maga, kill vice Principal , abduct students
News
VP Shettima: Hajiya Sutura Shagari Will Be Remembered For Her Selflessness, Compassion
VP Shettima: Hajiya Sutura Shagari Will Be Remembered For Her Selflessness, Compassion
- Leads FG delegation on condolence visit to the late former president’s family in Sokoto
By: Michael Mike
The Vice President, Senator Kashim Shettima, has described the passing of Hajiya Sutura Shehu Shagari, the last surviving wife of former President Shehu Shagari as a huge loss to Nigeria, saying she will be remembered for her life of compassionate and selfless service to her community and the nation at large.
Senator Shettima spoke on Sunday when he led the Federal Government delegation to condole with the Shagari family over the demise of the matriarch of the Shagari family in their residence in Sokoto State.

Announcing the death of the last surviving wife of the former President, a statement signed by the eldest son of the former President and Sarkin Mafaran Shagari, Capt. Bala Shagari, had noted that the late Hajiya Sutura died at about 3pm on Monday, November 10, 2025, after a prolonged illness at the age of 79.
Commiserating with the Shagari family in Sokoto, the Vice President who said he was in the state at the instance of President Bola Ahmed Tinubu prayed for the repose of Hajiya Sutura’s soul, as well as comfort for the family and the Sultanate.

“We are here at the instance of His Excellency, President Bola Ahmed Tinubu, to condole with the government and people of Sokoto State, His Eminence, the Sultan of Sokoto and the immediate family of our late President, Alhaji Shehu Usman Aliyu Shagari, over the sad event of the passing of his last surviving wife, Hajia Sutura Aliyu Usman Shagari,” he stated.
Vice President Shettima also prayed Almighty Allah to reward the departed with Aljannah Firdaus, as well as the fortitude for the immediate family, Sokoto State and the entire nation to bear the loss.

“May Allah grant her soul eternal rest and reward her with Aljana Firdaus. May Allah also grant the family and the good people of Sokoto and the nation as a whole, the fortitude to bear the irreparable loss,” he prayed.
Earlier, the Governor of Sokoto State, Dr. Ahmed Aliyu Sokoto, thanked the Vice President for the show of love and concern about not only the Shagari family but the entire Sokoto State.
“The visit is a gesture which speaks volumes for having you in our midst today. Distinguished audience, you may recall that the Vice President has been here almost, I can say, four times since the inception of our administration. This is a show of love and the concern.

“We thank you most sincerely; we thank you for your coming. We pray Allah to give you sound health, and to give you courage to continue the good work you are doing for this great country,” the Governor told VP Shettima.
Also, leader of the Shagari family and District Head of Shagari, Capt. Bala Shagari (rtd), thanked the Vice President for leading the Federal Government’s delegation to condole with the family.
He said it was a great honour having the Federal Government’s delegation sent by President Tinubu to condole with the Shagari family in their moment of grief, even as he also thanked the state Governor for taking care of the Shagari family.
Also in attendance were the Minister of State for Works, Senator Bello Mohammed Goronyo; former Attorney -General of the Federation and Minister of Justice, Bello Mohammed Adoke, and former Deputy Governor of Sokoto State, Alhaji Mukhtari Shagari, among other senior government officials.
VP Shettima: Hajiya Sutura Shagari Will Be Remembered For Her Selflessness, Compassion
News
Duke of Edinburgh Visits Nigeria to Host Series of Events, Meets Tinubu
Duke of Edinburgh Visits Nigeria to Host Series of Events, Meets Tinubu
By: Michael Mike
His Royal Highness The Duke of Edinburgh is expected in the country to host a series of events in Lagos, Nigeria from 17 – 23 November 2025 to champion the expansion of the Duke of Edinburgh’s International Award across the world.
He is also expected to meet President Bola Tinubu in Abuja, and get involved in some other activities at the nation’s capital.
According to a statement on Sunday, Prince Edward, as Chairman of the Duke of Edinburgh’s International Award Foundation, will convene almost 200 young people from more than 50 countries over the week, alongside hundreds of leaders delivering the Duke of Edinburgh’s International Award globally, policymakers, and representatives from global youth movements.
Young people will take part in an intensive three-day youth leadership programme, before taking part in the International Award’s triennial Forum focused on expanding access to the Award globally.
Last year almost 1.2 million young people in more than 130 countries took part in the Award. While young people in the UK make up around half of all participants, Kenya has the second-highest number of young people involved in the Award. In Nigeria – where this week’s events are taking place – participation has surged by 37% in the past year, reflecting increasing interest across West Africa.

On the eve of the Duke of Edinburgh’s Award turning 70 next year, new analysis about the global impact of the Award shows that the social value generated by young people completing the Award in the last year has exceeded £1 billion for the first time. The social value is calculated through a robust methodology developed by PWC quantifying the impact of volunteering, improved mental and physical health, and social cohesion.
The Award has gained increasing momentum in recent years, as the likes of the World Bank, World Economic Forum and International Labor Organisation have placed strong emphasis on skills developed beyond the classroom, such as teamwork, communication skills, resilience and problem-solving.
Over the course of the week the Duke of Edinburgh will meet the President of Nigeria in Abuja, convene senior ministers and international development agencies in Lagos to foster deeper collaboration on non-formal education and take part in major events hosted by the Governor of Lagos and the British Deputy High Commissioner in Lagos.
Secretary General of the Duke of Edinburgh’s International Award worldwide, Mr. Martin Houghton-Brown, commented that: “More and more young people across the world are taking on the challenge of the Award, and embracing learning outside the classroom. Through smartphones and AI, young people can access the world’s knowledge in seconds fingertips, but the Award is providing a fresh challenge and helping young people develop the skills that give them the ‘human edge’. From team work to creativity, determination to flexibility, the Award is helping young people across the world become World Ready. Our gathering here in Lagos is focused on significantly increasing opportunities for young people in every country to take on the Award’s challenge and opportunity.”
British Deputy High Commissioner in Lagos, Mr. Jonny Baxter said: “The Duke of Edinburgh’s International Award exemplifies the potential of Nigeria’s young people, and that is important because Nigeria’s success matters deeply to the UK. As partners, we share a commitment to empower the next generation, create jobs, and unlock economic potential. We applaud Nigeria’s bold reforms and are optimistic that these plans will remove constraints on Nigeria’s entrepreneurial spirit and help move Nigeria forward. The UK stands ready to work together to drive growth, stability, and prosperity for the benefit of both our countries.”
The Duke of Edinburgh’s International Award is a global framework for non-formal education, empowering young people to develop skills, resilience, and a spirit of service. It is delivered through schools, youth organisations, and community groups worldwide.
Founded in 1956 by HRH The Duke of Edinburgh, Prince Philip, the Award has grown from a UK-based initiative into the world’s most widely recognised youth achievement framework delivered in more than 130 countries and territories, with 1.2 million participants annually. The Award equips young people aged 14 to 24 with essential skills for life and work, including confidence, empathy, teamwork, resilience and leadership, through experiential learning beyond the classroom.
As the Duke of Edinburgh’s International Award approaches its 70th anniversary, more than 1,500 young people begin their Award journey every day, engaging in activities from environmental restoration and volunteering to skills development and adventurous journeys.
Duke of Edinburgh Visits Nigeria to Host Series of Events, Meets Tinubu
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