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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
Troops arrest suspected gun-runner in Taraba, recover weapons and ammunition
Troops arrest suspected gun-runner in Taraba, recover weapons and ammunition
By: Zagazola Makama
Troops deployed at Ibi and the Forward Operating Base (FOB) Wukari have arrested a suspected gun-runner and recovered weapons, ammunition, and other items during an intelligence-led operation in Taraba State.
Security sources disclosed that the troops acted on credible intelligence about a suspicious Peugeot vehicle heading toward the Ibi waterside area. The troops swiftly mobilised to intercept the vehicle and apprehended the suspect.

The suspect, identified as Abubakar Ibrahim, 48, from Barkin-Ladi Local Government Area of Plateau State, was arrested during the operation.
Items recovered from him include six locally fabricated weapons bearing various registration numbers, two rounds of 7.62mm special ammunition, one Peugeot 504 vehicle, a Q Seven mobile phone, seven bottles of perfume with rubbers, seven charms, one mentholatum rub, two small containers of Vaseline, and the sum of N1,400 in cash.
Military sources said the suspect and the recovered items are currently in custody and will be transferred to the Brigade Headquarters for further investigation.
The sources added that the general security situation within the Area of Responsibility remains calm but highly unpredictable, noting that troops’ morale and fighting efficiency remain satisfactory.
The arrest is part of ongoing efforts by security forces to curb the proliferation of illegal arms and criminal activities in Taraba and adjoining areas.
Troops arrest suspected gun-runner in Taraba, recover weapons and ammunition
News
ISWAP kills professor in targeted abduction on Maiduguri-Damboa highway
ISWAP kills professor in targeted abduction on Maiduguri-Damboa highway
By: Zagazola Makama
ISWAP terrorists have reportedly killed Professor Abubakar Mohammed el-Jumma of the Nigerian Army University Biu following a targeted abduction along the Maiduguri-Damboa highway on March 25, 2025.
Sources told Zagazola Makama that the attackers, described as light-skinned foreigners, specifically targeted Professor el-Jumma, suggesting the abduction was premeditated. The perpetrators were reportedly in possession of his photograph before carrying out the attack, confirming that the operation was deliberate and planned.
Authorities have confirmed that no ransom demands were made and attempts to negotiate his release were unsuccessful. ISWAP later informed the family of Professor el-Jumma’s death and that his burial had been carried out within their enclave.
The incident demonstrates ISWAP’s growing capability to exploit local vulnerabilities with the support of spies and sympathizers.
The group’s targeting of high-profile individuals, including academics and community leaders, reflects a shift towards calculated kidnappings designed to spread fear and disrupt governance and education in the North East.
No official statement has yet been issued by Nigerian Army University Biu authorities regarding the incident.
ISWAP kills professor in targeted abduction on Maiduguri-Damboa highway
News
Bayelsa East Leaders, Elders, Women, Youths To Protest Over Marginalization In Sen Douye Diri Administration
Bayelsa East Leaders, Elders, Women, Youths To Protest Over Marginalization In Sen Douye Diri Administration
Leaders, stakeholders, women and youths in Bayelsa East Senatorial District has perfected preparations to stage a peaceful protest against Bayelsa State Governor, Senator Douye Diri over marginalization and neglect in political appointments in the government since inception.
The people of the east also deserves sensitive offices in the government for their resolute support for the government since inception, but they have been marginalized. The office of the deputy governor from the east will balance the political structure.
Marginalization of the east people in sensitive government appointments is an outright disrespect to the former President, Dr. Goodluck Ebele Jonathan, King Alfred Diette-Spiff, Gen. Melford Okilo, and other leaders from the east senatorial district.
Even though the speaker of the state house of assembly is not considered, there are other competent individuals eminently qualified to handle the office of the deputy governor for the remaining years of the government.
The governor should consult former president, and other leaders from the east to chose a deputy governor from either Ogbia, Nembe or Brass.
The eastern region planned peaceful protest is a furtherance expression of dissatisfaction in accordance and solidarity with the group, the Bayelsa State Chapter of the All Progressives Congress Grassroot Movement (BSAGM) condemnation of Governor Diri administration over marginalization of appointments.
According to the eastern people, the governor has consciously and deliberately marginalized the east in sensitive political appointments in the government, pointing out that all the top offices in the government are handled by his relatives from Kolokuma-Opokuma and Sagbama.
For instance; all government house appointments are handled by his relatives, the chief of staff, deputy chief of staff, Director of Domestic, Director of Transport, including S.A Political, and other sensitive appointments in the government.
Governor Douye Diri has deliberately neglected and marginalized the east, we will exercise our constitutional right of a peaceful protest to express our dissatisfaction to the world.
Since the creation of Bayelsa State, successive administrations had maintained political conglomeration across the three senatorial district in the state, but Diri administration had neglected the east from inception.
The east is only been marginalized, and neglected in Diri administration. Alamieyeseigha, Jonathan, Sylva, and Dickson carried out fair, equal appointments, infrastructure across the state, in their administrations.
Successive governments since 1999, had fairly and transparently distributed political appointments across the senatorial district, but the contrary is Diri’s administration.
It is absolutely unfortunate that the east had been undermined by Diri, running a one-sided government of Kolokuma-Opokuma, and the whole state is watching the government.
In exercise of constitutional right of a peaceful protest, the east will carry out a peaceful protest to government house next week to publicly express their dissatisfaction to the world over the undemocratic marginalization of appointments in Diri administration.
Signed:
Chief Samuel Azibator – Ogbia
High Chief Nengi Sylvanus -Nembe
Chief Williams Naworio – Brass
Bayelsa East Leaders, Elders, Women, Youths To Protest Over Marginalization In Sen Douye Diri Administration
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