The Securities and Exchange Commission (SEC) has announced that Nigeria’s non-interest capital market has grown to N1.6 trillion, reflecting rising investor confidence and expanding participation in ethical finance.
Director-General of the SEC, Dr. Emomotimi Agama, disclosed this in Abuja during a press briefing ahead of the 7th African International Conference on Islamic Finance (AICIF), scheduled for next month in Lagos. The conference, jointly organised by the SEC, Metropolitan Law Firm, and Metropolitan Skills Ltd, is themed “Africa Emerging: A Prosperous and Inclusive Outlook.” It aims to position ethical finance as a catalyst for building a resilient and inclusive African economy.
Agama described the event as timely, aligning with the conclusion of the Revised Nigerian Capital Market Masterplan (2021–2025). He said the forum will chart a new phase of sustainable financial development across Africa.
“This year’s theme is a call to action — harnessing ethical finance to build a more prosperous and equitable Africa,” he noted.
He revealed that Sukuk continues to dominate the non-interest market, with the latest issuance oversubscribed by over 700 percent, underscoring investors’ confidence in ethical financial instruments. “The overwhelming subscription to our Sukuk issuances demonstrates strong investor trust and rising demand,” he said.
Agama highlighted that the new Investments and Securities Act (ISA) 2025 has strengthened the legal framework for non-interest financial products, empowering the SEC to register collective investment schemes and expand available instruments.
The AICIF 2025, he added, will feature high-level discussions on infrastructure, green and ethical investments, agricultural financing, and fintech’s role in transforming Islamic finance.
AICIF Chairperson and Metropolitan Law Firm’s Managing Partner, Ummahani Amin, said the conference has become one of Africa’s leading gatherings promoting innovation, integrity, and sustainable growth in Islamic finance.
The post Non-Interest Capital Market now worth N1.6trn — SEC appeared first on Vanguard News.
