Connect with us

News

AICIF 2025: Metropolitan, SEC to Expand Islamic Financing Ecosystem in Nigeria

Published

on

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

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Two Worlds, Two Leaders, One Lesson

Published

on

Two Worlds, Two Leaders, One Lesson

By Abiodun Adigun

In London, the Mayor Sadiq Khan just announced: “Due to high cost of living, Londoners will receive £15.45 per hour to reflect the current economic realities.”

15 pounds 45 pence per hour. That is the new London Living Wage.
Not because election is coming. Not because people protested. But because the price of fuel went up, rent went up, food went up, and government said, we must adjust wages to reflect reality. That is what responsible countries do when fuel becomes expensive, they increase what workers earn so workers can survive.

In other countries, when fuel price shocks hit, they give energy support, they cap electricity bills, they give transport palliatives, they reduce taxes for the poor. They understand that high fuel cost without higher income is equal to death for the masses.

Now come to Nigeria.

In Nigeria, the President Bola Tinubu says: “I understand the pains Nigerians are going through, but there is no other way out of the sufferings.”

No other way? There is always another way.
London found another way. America found another way. Even Ghana found another way.
But in Nigeria, there is no other way except for the people to suffer.

How can you say there is no other way when you and other politicians are spending billions every day to campaign for re-election in 2027?
Billboards everywhere, jingles everywhere, defection ceremonies everywhere, billions that could have been used to pay workers or subsidise food.
How can you say there is no other way when you travel abroad for holidays with a large entourage, when you buy a new presidential jet worth over N150 billion, when National Assembly members buy N160 million SUVs each?

You understand the pains, but you don’t feel the pains.
If you felt the pains, you would not increase your own comfort while telling people to be patient in suffering.

In London, when cost of living goes up, wages go up.
In Nigeria, when cost of living goes up, taxes go up. Fuel up, electricity tariff up, VAT up, gas price up.
Everything up except salary and compassion.

London’s Mayor is not more intelligent than Nigerian leaders. He is just more humane.
He knows that leadership is not about telling people to endure hardship you created.
Leadership is about cushioning hardship.

The painful part is this: Nigerians are working harder than Londoners.
A Lagos bus driver wakes by 4am and closes by 11pm.
A market woman sits in sun from morning till night.
But their work can no longer feed them because government removed subsidy without any living wage adjustment.
Minimum wage is N70,000, that is less than 30 pounds a month. London’s hourly wage is almost half of Nigeria’s monthly minimum.

May Nigerians not remain foolish indeed.

Stupid to clap for politicians who tell us to be patient while they live in luxury.
Stupid to vote again for people who said “If we reduce the purchasing power of the people, we can further slow down the economy, let’s widen the tax net” and they actually did it.

Stupid to think there is no other way when other countries have shown us the other way.
There is always another way: cut cost of governance, stop profligacy, increase wages to reflect realities, and stop punishing the people for your reforms.

Two Worlds, Two Leaders, One Lesson

Continue Reading

News

Gombe, UNICEF train 104 health workers to curb newborn deaths

Published

on

Gombe, UNICEF train 104 health workers to curb newborn deaths

By Elizabeth Ogunjobi

The Gombe government and UNICEF have trained 104 frontline health workers to improve newborn survival amid persistently high neonatal mortality across northern Nigeria.

The two-day training covered 48 workers from secondary healthcare facilities, following a separate programme for 56 primary healthcare workers.

Dr Abdulrahman Shuaibu, Executive Secretary of the Gombe State Primary Health Care Development Agency, said strengthening newborn care was critical to reducing preventable deaths.

Speaking in Gombe on Thursday, Shuaibu said many babies were born in communities before being referred to secondary facilities for specialised care.

“Therefore, it is important to strengthen the capacity of healthcare workers at these facilities to provide appropriate care for newborns,” he said.

He said neonatal and infant mortality remained high in the state, requiring coordinated efforts by government, healthcare providers and development partners.

“It is our hope and prayer that this training will contribute to a significant decline in neonatal mortality across our communities,” he said.

Shuaibu urged participants to share their knowledge with colleagues who did not attend, ensuring that more facilities could deliver effective newborn care.

He said the programme complemented government efforts to upgrade primary and secondary healthcare facilities, while commending UNICEF and other development partners for their support.

Mr Oluseyi Olosunde, a UNICEF health officer at its Bauchi Field Office, said the training was organised to commemorate the 2026 World Prematurity Day.

Olosunde said the initiative focused on improving the quality of care provided to newborns, particularly premature babies and those requiring specialised attention.

“Every child deserves to live, and to make every child enjoy this right to life, the quality of care is important,” he said.

He said the training targeted nurses, midwives and doctors involved in caring for women during pregnancy, childbirth and the postnatal period.

“We are training them to ensure that the mother survives, every woman survives, and every child survives,” he said.

Olosunde described newborn deaths as unacceptably high in many northern states, stressing the importance of strengthening healthcare workers’ skills.

He urged participants to apply their knowledge to improve services and protect the lives of mothers and babies under their care.

Dr Raymond Mercy, a consultant paediatrician at the Federal Teaching Hospital, Gombe, also urged healthcare workers to prioritise proper newborn care.

Mercy, a member of the Paediatric Association of Nigeria and the Nigerian Society of Neonatal Medicine, said Nigeria’s neonatal mortality rate stood between 34 and 41 deaths per 1,000 live births.

She said Nigeria had the world’s second-highest burden of neonatal mortality, underscoring the urgency of improving newborn healthcare nationwide.

Gombe, UNICEF train 104 health workers to curb newborn deaths

Continue Reading

News

NHRC Orders Probe into Alleged Misconduct at Uyo Office

Published

on

NHRC Orders Probe into Alleged Misconduct at Uyo Office

By: Michael Mike

The National Human Rights Commission (NHRC) has ordered an immediate investigation into allegations of unprofessional conduct by its personnel at the Akwa Ibom State office in Uyo following a video circulating on social media.

The Commission said the allegations were being treated with serious concern, stressing that its personnel were expected to uphold the highest standards of professionalism and respect for the rights and dignity of complainants, irrespective of provocation.

In a statement issued on Thursday by its Director of Corporate Affairs and External Linkages, Fatimah Agwai Mohammed, the NHRC said its Executive Secretary, Chief Tony Ojukwu, had directed an immediate investigation to establish the facts surrounding the incident.

It said appropriate administrative action would be taken in accordance with existing rules if any infraction was established.

The Commission emphasised that its responsibility to protect human rights must begin with the treatment of people who approach its offices for assistance, adding that every complainant deserved to be treated with dignity, respect and professionalism.

“Our professional training is that at no point in time should a complainant be charged against even if there is provocation,” the statement said.

The NHRC reiterated its commitment to ensuring accessible, free, timely and accountable service delivery, urging members of the public experiencing difficulties in accessing its offices to report such cases through its toll-free line, 6472.

The Commission’s response follows the circulation of the video alleging misconduct at its Uyo office, with the investigation expected to establish the circumstances surrounding the incident and determine whether any disciplinary action is warranted.

NHRC Orders Probe into Alleged Misconduct at Uyo Office

Continue Reading

Trending

Verified by MonsterInsights