… 7Th AICIF To Unlock Ethical Financing For Nigeria’s Prosperity
The Securities and Exchange Commission (SEC) Nigeria has disclosed that Nigeria’s non-interest capital market has significantly grown over the past few years with a valuation of over N1.6tn, signalling growing investor confidence and deepening participation in the ethical finance subsector.
The Director-General of the SEC, Dr. Emomotimi Agama, gave this hint on Monday during a joint press briefing in Abuja ahead of the 7th African International Conference on Islamic Finance (AICIF), scheduled to hold on November 4 and 5, 2025 in Lagos
The conference, which is jointly organized by the SEC, the Metropolitan Law Firm, and Metropolitan Skills Ltd., with the theme “Africa Emerging: A Prosperous and Inclusive Outlook” aims to promote ethical financing as a viable tool for building a resilient and inclusive African economy.
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Agama described the upcoming forum as strategically scheduled to coincide with the conclusion of the Revised Nigerian Capital Market Masterplan (2021–2025), adding that it would serve as a platform for charting the next phase of sustainable financial development across the continent.
He said: “This year’s theme is a call to action, it’s about harnessing ethical finance as a tool to build a more prosperous and equitable Africa.
According to him, the Nigerian non-interest market has shown remarkable momentum, with Sukuk dominating the sector, with the last Sukuk issuance oversubscribed by over 700 percent, underscoring the growing investor appetite for non-interest products and confidence in the regulatory framework.
The investment expert said: “The non-interest capital market has attained a valuation of N1.6tn. The overwhelming subscription to our Sukuk issuances demonstrates strong investor confidence and an expanding demand for ethical financial instruments.”
He described the Investments and Securities Act (ISA) 2025 as a game-changer, providing a strengthened legal foundation for non-interest financial products, empowering the SEC to register non-interest collective investment schemes and broaden the range of instruments available to investors.
Agama maintained that the legislation had modernized the commission’s regulatory framework, enhances transparency, and gives investors the confidence needed to engage more deeply with ethical finance.
He said the AICIF would feature high-level discussions on unlocking capital for Africa’s infrastructure, green and ethical investments, agricultural financing, and the role of fintech in transforming Islamic finance, adding that the sessions are designed to produce practical solutions to some of the continent’s most pressing development challenges.
The Director-General described the AICIF as not just another conference but a problem-solving forum that will deliver actionable strategies to drive new investment flows and inform future regulatory policy by bringing together regulators, senior financial executives, scholars, and representatives of development finance institutions to collaborate on innovative policy frameworks.
According to him, promoting financial inclusion will be a key focus area, ensuring that ethical finance becomes a driver of prosperity for individuals and businesses alike and the insights generated will help shape the next phase of our capital market’s growth, ensuring it remains a strong engine for Nigeria’s economic development.
Agama underscored that the AICIF aligns with the government’s broader agenda of promoting sustainability, inclusivity, and transparency in the financial system, saying that ethical finance is a critical component of Nigeria’s long-term economic transformation plan, capable of funding infrastructure, empowering communities, and stimulating small and medium-scale enterprises.
He maintained that the 7th AICIF remained a premier forum dedicated to advancing non-interest and ethical finance across Africa. It represents a shared commitment to building a financial ecosystem that is prosperous, inclusive, and sustainable, urging stakeholders to actively participate in the Lagos conference, describing it as “a defining moment for Nigeria’s financial sector and a blueprint for Africa’s economic rebirth.”
Also speaking, Managing Partner, Metropolitan Law Firm & Chairman, AICIF 2025 Planning Committee, Ummahani Amin, said that AICIF had grown into one of the most important gatherings for policymakers, regulators, investors, scholars, and innovators who share a common goal to advance ethical, inclusive, and sustainable finance in Africa.
She said: “This year, we are especially proud of our strategic partnership with the Securities and Exchange Commission (SEC), Nigeria’s highest regulator in the capital market. This collaboration underscores our shared vision to strengthen the Islamic finance ecosystem, deepen investor confidence, and support innovation that aligns with integrity and shared prosperity.
“This year’s conference comes at a critical time — as Africa continues to explore innovative, ethical, and sustainable pathways to finance development”, Amin added.
She said Islamic finance had proven to be one of the fastest-growing segments of the global financial system, and AICIF provides a unique platform to bring together policymakers, regulators, scholars, investors, and practitioners to shape that future here on the continent.
Aside the conference sessions, she said the partners would also be celebrating excellence and innovation through its Awards Night, as well as unveiling the winners of the AICIF Pitch Competition, a platform designed to spotlight young entrepreneurs and innovative ideas that can shape the future of Islamic finance in Africa.
