Non-Interest Finance Board spearheads ethical investment growth…
The Nigerian Exchange Limited (NGX) is intensifying efforts to boost market inclusion and transparency in Africa’s Islamic finance sector, reaffirming its leadership role at the 7th African International Conference on Islamic Finance.
In a statement issued to journalists on Friday, Umaru Kwairanga, Group Chairman of the NGX, highlighted the pivotal role of the Non-Interest Finance Board in driving access to Sharia-compliant financial products.
“Our commitment to broadening market participation is unwavering. Through our Non-Interest Finance Board, we are dedicated to expanding access to Sharia-compliant financial instruments that attract investors who value transparency, inclusivity, and sustainability,” Kwairanga said.
The two-day conference, held in Lagos from November 4 to 5, 2025, was organised by Metropolitan Skills Limited in collaboration with the Securities and Exchange Commission (SEC). It brought together policymakers, regulators, development partners, and market participants to discuss policy reforms, innovative product development, and strategies to unlock liquidity across Africa’s Islamic finance markets.
With over N1.3 trillion in listed Sukuk, the NGX is strategically positioned to capitalise on the rising demand for ethical investment products.
NGX CEO, Jude Chiemeka, described the Non-Interest Finance Board as more than a regulatory platform.
“It embodies our commitment to unlocking ethical capital and ensuring sustainable development. By embracing innovation and building strategic partnerships, we are setting the stage for inclusive growth,” he said.
The conference also featured input from Vice President Kashim Shettima, represented by Dr. Tope Fasua, Special Adviser to the President on Economic Matters, who emphasised the role of Islamic finance in promoting equitable prosperity and sustainable development across African economies.
Nigeria’s non-interest capital market has made significant progress, including sovereign Sukuk issuances that have raised over N1.4 trillion to fund national projects, further cementing the country’s influence in shaping the future of Islamic finance on the continent.
In addition, the NGX announced an interim dividend of N1.00 per ordinary share of 50 kobo each, following the approval of its unaudited third-quarter financial statements ended September 30, 2025. The decision was made at the Group’s Board meeting on October 29, 2025.
The NGX Group Plc, successor to the former Nigerian Stock Exchange (NSE) after its demutualisation in March 2021, continues to operate a diversified portfolio of businesses across Nigeria’s financial market ecosystem.
Through these initiatives, the NGX is advancing a transparent, inclusive, and ethical financial ecosystem, fostering sustainable growth and investor confidence in Africa’s Islamic finance markets.
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