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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
Bandits kill two, abduct woman in Chikun, Kaduna
By: Zagazola Makama
Suspected bandits have killed two persons, injured one and abducted a woman during an attack on Rimi Kamazo community in Chikun Local Government Area of Kaduna State.
Zagazola report that the incident occurred on Dec. 28 at about 11:50 a.m. when an unspecified number of armed bandits invaded the community, firing sporadically and causing panic among residents.
Victims of the attack were identified as Zainab Amos Bagoro, 55, and Aminu Amos Bagoro, 25, who were shot and fatally injured. Another victim, Gayus Amos Bagoro, sustained gunshot injuries and is currently receiving treatment.
The attackers also abducted Justina Abednego, 25, and took her to an unknown destination.
Sources said security operatives received information about the attack at about 2:00 a.m. on Dec. 29 and immediately mobilised to the area in collaboration with other security agencies.
The injured victims were rushed to hospital for medical attention, where the two critically injured persons were confirmed dead, while the surviving victim is receiving treatment at St. Gerald Hospital, Kakuri, Kaduna.
The corpses of the deceased were deposited at the hospital morgue for autopsy.
Security forces have intensified efforts to rescue the abducted woman and track down the perpetrators, while investigations into the incident have commenced.
Bandits kill two, abduct woman in Chikun, Kaduna
Mob sets NSCDC office ablaze, kills three suspects in Kano
By: Zagazola Makama
Atleast three suspected motorcycle thieves were killed by a mob while the office of the Nigeria Security and Civil Defence Corps (NSCDC) was raised in Dawakin Kudu Local Government Area of the state.
Zagazola Makama learnt that the incident occurred at about 9:00 p.m. on Dec. 28 at the Danmaje Quarters Divisional Office of the NSCDC in Dawakin Kudu.
According to sources , personnel of the NSCDC attached to the office had earlier arrested three suspects over alleged motorcycle theft.
The source said that following the arrest, angry youths armed with dangerous weapons mobilised in large numbers and stormed the NSCDC office, demanding that the suspects be released to them for lynching.
“They overpowered the NSCDC personnel, chased them out of the office and set both the office and the suspects ablaze,” the source said.
Sources said the scene was later visited by security operatives, while the victims were rushed to the Aminu Kano Teaching Hospital, where they were certified dead by medical personnel.
The corpses were subsequently deposited at the hospital’s morgue.
Mob sets NSCDC office ablaze, kills three suspects in Kano
NESREA Shuts Sunseed Oil Facility in Zaria Over Air Pollution Violations
By: Michael Mike
The National Environmental Standards and Regulations Enforcement Agency (NESREA) has ordered the closure of the Sunseed Oil processing plant in Zaria, Kaduna State, following findings of severe air pollution linked to the facility’s operations.
NESREA said the action was taken after investigations confirmed that the plant was emitting harmful pollutants into the atmosphere in breach of the National Environmental (Air Quality Control) Regulations.
The regulations require industries to install effective pollution control systems and adopt cleaner production methods to minimize environmental and health risks.
A statement by the agency’s spokesperson, Nwamaka Ejiofor on Tuesday, said the level of emissions from the Sunseed Oil facility posed a direct threat to the surrounding environment and residents in nearby communities, prompting immediate intervention to halt further damage.
She noted that the enforcement exercise reflects the agency’s resolve to ensure that industrial operators comply with environmental standards and to protect the public from the dangers associated with uncontrolled industrial emissions and effluents.
Commenting on the development, the Director-General of NESREA, Prof. Innocent Barikor, warned companies operating across the country to adhere strictly to national environmental laws.
He stressed that the agency would continue to take decisive action against facilities whose operations endanger public health or degrade the environment.
NESREA reiterated its commitment to regular monitoring and enforcement, noting that environmental protection remains a critical component of sustainable development in Nigeria.
NESREA Shuts Sunseed Oil Facility in Zaria Over Air Pollution Violations
Bandits kill two, abduct woman in Chikun, Kaduna
Mob sets NSCDC office ablaze, kills three suspects in Kano
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