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Islamic Banking: Metropolitan Law Firm roll out an endowment fund for indigent Nigerians
Islamic Banking: Metropolitan Law Firm roll out an endowment fund for indigent Nigerians
By: Michael Mike
The Metropolitan Law Firm has launched an endowment fund under the Islamic Banking guidelines to cater to the education of indigent Nigerians for basic to tertiary institutions.
The fund, called Waqf, is an instrument of Islamic Estate Planning largely designed for charitable and philanthropic activities to solve social problems.
Managing Partner, The Metropolitan Firm, Ummahani Amin, said N60 million seed funding has been committed to the fund and is targeted at the less privileged children, particularly orphans in the northeast by providing scholarships and complementing efforts aimed at dousing the burgeoning number of out-of-school children in the country.
She made this known at the 5th Annual Islamic Estate Planning and Clinic and the official launch of the Metropolitan Waqf fund on Sunday in Abuja organised in partnership with the FBNQuest Trustees, a subsidiary of FBN Holdings
Amin said the philanthropic activity will kick off in the Northeast because it is the region of the country that is most ravaged by insurgency and wanton killings which have left many destitute.
She added that the fund is focusing on education because it is a major social problem in the country that must be addressed for the country to attain desired development.
“We are targeting Northeast right now when it expands, it would be for everyone that meets the criteria. We will start with scholarships, but in the long run, we intend to have schools, especially for that with the best quality education and teachers to nurture and train the children till tertiary level, and we intend to give scholarships to either study in or out of the country at the tertiary level,” she said.
While noting that Waqf is an aspect of Islamic social financing targeted at solving a social problem, she said the fund is open for donations from individuals, and institutions. She equally noted that the Waqf is part of the Corporate Social Responsibility (CSR) of the Metropolitan Law.
Abimbola Ajinibi, Senior Vice President, FBNQuest informed that the non-Muslims can benefit from the endowment fund. He said the role of FBNQuest would be to ensure that the interest of the beneficiaries is protected.
“Waqf is called Islamic trust. It simply means that you have three parties, a set law, trustees, and the beneficiaries. Essentially, the trustees hold assets for the benefit of the named beneficiary. Today, we are launching Metropolitan Waqf which means that we are setting up a trust for the benefit of certain people. So we (FBN Quest) are going to act as delegate trustees to ensure that the interest of the beneficiaries is protected,” he said.
In the same vein, the Senator-Elect of FCT under the Labour Party and the member of the Board for the Metropolitan Waqf Fund, Ireti Kingibe, emphasized that the target is to help out-of-school children in the country, especially from the north.
Kingibe also used the opportunity to assure that she will use her office when she assumes office to ameliorate the plight of the marginalized groups in the FCT, especially the youth, women, and children.
Also in her presentation, Mutiat Olatunji, Private Trust Specialist, while giving an overview of the Islamic Estate Planning and Wealth Transfer defined estate planning as a structure set up during a person’s lifetime to cater to o the needs of both immediate and extended family, charitable and philanthropic activities
She also explained Waqf is a veritable tool for inheritance planning, and also be used to cater to generational wealth transfer, medical needs, and charitable activities among others.
Islamic Banking: Metropolitan Law Firm roll out an endowment fund for indigent Nigerians
Suspected cultists kill 12 in attack on Jos community, Plateau govt imposes curfew
By: Zagazola Makama
Suspected cultists on Sunday night attacked Angwan Rukuba community in Jos North Local Government Area of Plateau State, leaving 12 persons dead, in a fresh outbreak of violence that has prompted authorities to impose a 48-hour curfew in the area.
Security sources said the incident occurred at about 8:00 p.m. when residents of the community came under sporadic gunfire from unidentified armed men, suspected to be cultists, who stormed the area and shot indiscriminately.
Troops of Sector 1, Operation Enduring Peace (OPEP), were immediately mobilised to the scene following a distress call and moved to restore order and prevent further escalation.
A security report indicated that 12 persons were confirmed dead, while several others sustained varying degrees of injuries. The injured victims were said to have been evacuated to nearby medical facilities for treatment.
The troops subsequently cordoned off major access routes to the community and ordered residents to remain indoors while a coordinated search operation was launched to track down the attackers.
Military sources added that clearance operations were ongoing to apprehend the perpetrators and prevent further breakdown of law and order in the area.
In response to the attack, the Plateau State Government, in collaboration with security agencies, announced the imposition of a 48-hour curfew on Jos North Local Government Area with immediate effect.
The curfew, which took effect from midnight of March 29 to April 1, 2026, was aimed at restoring calm and enabling security agencies to carry out intensified operations.
In a statement issued by the Commissioner for Information and Communication, Rt. Hon. Joyce Lohya Ramnap, the government condemned the attack, describing it as “barbaric and unprovoked.”
The statement assured residents that security agencies had been directed to ensure the arrest and prosecution of those responsible, while urging the public to remain calm and cooperate with ongoing investigations.
Security patrols were still ongoing across affected communities as authorities moved to forestall possible reprisal attacks and restore normalcy.
Suspected cultists kill 12 in attack on Jos community, Plateau govt imposes curfew
Troops arrest suspected kidnapper in Damboa LGA of Borno
By: Zagazola Makama
Troops of Operation Hadin Kai have arrested a suspected kidnapper in Azir community, Damboa Local Government Area of Borno State.
Sources told Zagazola Malama that the suspect was apprehended at about 5:00 p.m. on March 28 by troops of 25 Brigade and 19 Battalion (Mechanised) deployed at a Forward Operating Base in Azir.
The source disclosed that the suspect was alleged to have been involved in kidnapping activities within the Damboa and Azir general areas.
“During preliminary investigation, the suspect claimed to be a cattle courier operating within Damboa and its environs,” the source said.
He added that one bicycle was recovered from the suspect at the point of arrest.
The suspect and the recovered item are currently in troops’ custody for further investigation and necessary action.
Troops arrest suspected kidnapper in Damboa LGA of Borno
Troops arrest 58 illegal miners in Edo state
By: Zagazola Makama
Troops of Operation MESA have arrested 58 suspected illegal miners at an illegal gold mining site in Ososo general area, Akoko-Edo Local Government Area of Edo State.
A security source disclosed that the suspects were apprehended at about 1:00 p.m. on March 28 during a fighting patrol conducted by troops of 195 Battalion (Rear).
According to the source, the troops stormed the mining site and arrested the suspects without resistance.
“The suspects are currently in troops’ custody for further action,” the source said.
He noted that the operation forms part of ongoing efforts to curb illegal mining activities and other criminal enterprises within Edo State and its environs.
Troops arrest 58 illegal miners in Edo state
Suspected cultists kill 12 in attack on Jos community, Plateau govt imposes curfew
Troops arrest suspected kidnapper in Damboa LGA of Borno
Troops arrest 58 illegal miners in Edo state
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