Nigeria’s Non-Interest Capital Market Surges to ₦1.6 Trillion — SEC Highlights Investor Confidence in Ethical Finance
Nigeria’s non-interest capital market has reached a major milestone, hitting a valuation of ₦1.6 trillion, according to the Securities and Exchange Commission (SEC). The SEC’s Director-General, Emomotimi Agama, made the announcement during a press briefing in Abuja ahead of the 7th African International Conference on Islamic Finance (AICIF), scheduled for November 4–5, 2025, in Lagos. The conference will focus on promoting ethical financing and fostering a prosperous, inclusive African economy.
Agama attributed the impressive growth to rising investor participation and growing trust in Nigeria’s regulatory environment. He noted that Sukuk, a Sharia-compliant investment instrument, continues to dominate the market, with recent issuances oversubscribed by more than 700%. This, he said, reflects a “strong appetite for non-interest products” among both institutional and retail investors seeking stable and ethical alternatives.
Highlighting key regulatory progress, Agama pointed out that the newly enacted Investments and Securities Act 2025 has solidified the legal framework for non-interest finance in Nigeria. The legislation empowers the SEC to register non-interest collective investment schemes, thereby broadening access to ethical investment opportunities and enhancing financial inclusion for Nigerians across various sectors.
The upcoming AICIF 2025 conference, organized by the SEC, Metropolitan Law Firm, and Metropolitan Skills Ltd, will bring together policymakers, investors, and financial experts from across Africa. Discussions will center on unlocking capital for infrastructure, green and agricultural financing, and leveraging fintech to advance Islamic finance. The event is strategically timed with the conclusion of Nigeria’s Revised Capital Market Masterplan (2021–2025), positioning it as a catalyst for the next phase of sustainable financial growth.
According to Ummahani Amin, Managing Partner at Metropolitan Law Firm and Chair of the AICIF Planning Committee, the partnership with the SEC reinforces a shared vision to strengthen Africa’s Islamic finance ecosystem. “This collaboration promotes innovation, investor confidence, and financial systems built on integrity and shared prosperity,” she said. With ethical finance gaining momentum globally, Nigeria’s non-interest market is increasingly seen as a model for sustainable economic inclusion in Africa.
source: punch