The Securities and Exchange Commission (SEC) has announced that Nigeria’s non-interest capital market has grown to a valuation exceeding N1.6 trillion, reflecting rising investor confidence and expanding appetite for ethical financial instruments.
SEC Director-General, Dr Emomotimi Agama, disclosed this on Monday during a joint press briefing in Abuja ahead of the 7th African International Conference on Islamic Finance (AICIF), slated for November 4–5, 2025, in Lagos.
Themed “Africa Emerging: A Prosperous and Inclusive Outlook,” the conference is jointly organised by the SEC, Metropolitan Law Firm, and Metropolitan Skills Ltd. It aims to unlock the potential of ethical financing in driving inclusive growth, sustainable investment, and prosperity across Africa.
Dr Agama noted that the timing of the event coincides with the conclusion of the Revised Nigerian Capital Market Masterplan (2021–2025), describing it as a “strategically positioned platform” to chart the next phase of the nation’s financial development.
“The non-interest capital market has attained a valuation of N1.6 trillion. The overwhelming subscription to our Sukuk issuances, oversubscribed by more than 700 per cent, demonstrates strong investor confidence and an expanding demand for ethical financial instruments,” Agama said.
He explained that the enactment of the Investments and Securities Act (ISA) 2025 has strengthened the legal foundation for non-interest financial products, empowering the SEC to register non-interest collective investment schemes and expand the product landscape.
“The new Act is a game-changer. It modernises our regulatory framework, enhances transparency, and gives investors the confidence to engage more deeply with ethical finance,” he added.
The AICIF will feature high-level sessions on unlocking capital for infrastructure, agriculture, green investments, and fintech innovation in Islamic finance. According to Agama, the conference will serve as a “problem-solving platform” to develop actionable strategies for deepening investment flows and shaping future policy.
He emphasised that promoting financial inclusion remains central to the SEC’s agenda, describing ethical finance as “a critical component of Nigeria’s long-term economic transformation plan” capable of funding infrastructure, empowering small businesses, and driving community development.
Also speaking, Ms Ummahani Amin, Managing Partner at Metropolitan Law Firm and Chair of the AICIF 2025 Planning Committee, said this year’s edition represents a landmark collaboration with the SEC aimed at strengthening Africa’s Islamic finance ecosystem.
“AICIF has become one of the most important gatherings for policymakers, regulators, investors, and innovators driving ethical and sustainable finance in Africa. This year’s partnership with the SEC underscores our shared vision for inclusive growth built on integrity and shared prosperity,” Amin said.
She added that the conference will also feature an Awards Night and Pitch Competition to celebrate excellence and spotlight young entrepreneurs shaping the future of Islamic finance on the continent.
As Nigeria positions itself as a hub for ethical and non-interest finance, stakeholders believe the AICIF 2025 will provide the blueprint for mobilising capital towards Africa’s sustainable and inclusive prosperity.
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