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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
Zulum Appoints Engr Peter Samuel as General Manager BOSAMA
By: Our Reporter
Borno State Governor, Professor Babagana Umara Zulum, has approved the appointment of Engr Peter Samuel, MNSE, MNIAE, as the General Manager of Borno State Agricultural Mechanization Authority (BOSAMA).
In a statement by the Special Adviser to the Governor on Media, Dauda Iliya, the appointment was based on Engr Samuel’s outstanding professional competence, proven track record, and experience in agricultural engineering and mechanization.
The statement noted that Engr Samuel possesses the requisite qualifications, technical expertise and leadership capacity required to reposition BOSAMA in line with Governor Zulum’s agricultural transformation agenda.
The newly appointed General Manager is an Agricultural Engineer with academic, professional, administrative, and practical experience in agricultural mechanization, farm power and machinery, irrigation engineering, and agricultural infrastructure development.
He holds a Master of Engineering (M.Eng.) in Farm Power and Machinery from Joseph Sarwuan Tarka University, Makurdi (formerly the Federal University of Agriculture, Makurdi), a Postgraduate Diploma in Farm Management and Production Economics from Nasarawa State University, and a Bachelor of Engineering (B.Eng.) in Agricultural and Environmental Resources Engineering from the University of Maiduguri.
Engr Samuel has distinguished himself through years of meritorious service in teaching, research, agricultural engineering practice, and project implementation. He currently serves as a Lecturer in Farm Power and Machinery at Ramat Polytechnic, Maiduguri.
Over the years, he has held several strategic leadership positions, including General Manager of a commercial agricultural enterprise, Project Coordinator, Programme Coordinator, and Consultant on numerous agricultural development interventions implemented by reputable national and international organisations.
He is a member of the Nigerian Society of Engineers (NSE) and the Nigerian Institution of Agricultural Engineers (NIAE).
Governor Babagana Zulum congratulated the new General Manager on his appointment and urged him to deploy his wealth of knowledge, technical expertise, and experience in agricultural mechanization to strengthen the operations of BOSAMA
Zulum Appoints Engr Peter Samuel as General Manager BOSAMA
Troops Arrest Suspected Military Impostor in Katsina
By Zagazola Makama
Troops of 17 Brigade have arrested a suspected military impostor during a fighting patrol in Malumfashi Local Government Area.
Security sources told Zagazola Makama that the suspect was apprehended at about 1:30 p.m. on July 4 by troops deployed at the Forward Operating Base (FOB) Malumfashi while conducting routine patrols within Malumfashi town.
According to the sources, the suspect was intercepted while wearing a woodland camouflage three-quarter short, raising suspicion among the troops.
A search conducted on the suspect led to the recovery of a fake Nigerian Army identity card, four Automated Teller Machine (ATM) cards, one woodland camouflage three-quarter short, a wristwatch and the sum of ₦17,000.
The suspect and the recovered exhibits are currently in military custody pending further investigation.
Military sources said the arrest forms part of ongoing efforts to curb impersonation of security personnel and other criminal activities within the area.
Troops Arrest Suspected Military Impostor in Katsina
Troops Recover 50 Rustled Cattle, Repel Suspected Rustlers in Kaduna
By Zagazola Makama
Troops deployed at the Forward Operating Base (FOB) Kankomi have recovered 50 rustled cattle after repelling suspected cattle rustlers during an ambush operation in Chikun Local Government Area.
Security sources told Zagazola Makama that the troops responded to a distress call at about 9:55 a.m. on July 4 over the activities of suspected rustlers at Ungwan Gontu community.
According to the sources, the troops swiftly laid an ambush and made contact with the fleeing suspects, forcing them to abandon the stolen livestock and escape into the surrounding area.
During the operation, the troops recovered 50 rustled cattle, which were subsequently identified and handed over to their rightful owner.
Military sources said efforts are ongoing to track down the fleeing suspects as security operations continue to combat cattle rustling and other criminal activities across Kaduna State.
Troops Recover 50 Rustled Cattle, Repel Suspected Rustlers in Kaduna
Zulum Appoints Engr Peter Samuel as General Manager BOSAMA
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Troops Arrest Suspected Military Impostor in Katsina
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