AICIF 2025: Metropolitan Skills, SEC to Expand Islamic Financing Ecosystem in Nigeria

The Securities and Exchange Commission (SEC) Nigeria has pledged to deepen the country’s non-interest finance market in partnership with Metropolitan Skills Limited and Metropolitan Law Firm, as Africa’s leading Islamic finance platform, the African International Conference on Islamic Finance (AICIF), convened its 2025 Pitch Competition.

The event, held in Abuja on Saturday was part of pre-conference activities leading to the 7th AICIF scheduled for November. It brought together innovators, regulators, investors, and entrepreneurs under the theme: “Africa Emerging: A Prosperous and Inclusive Outlook.”
Delivering her opening remarks, Ummahani Ahmad Amin, Conference Chair and Chairman, Board of Directors of Metropolitan Skills Limited, said the collaboration with SEC was a “historic step” for positioning Nigeria at the center of Africa’s ethical finance revolution.
“Together, we are working to strengthen the foundation of Islamic finance across Africa, expanding its reach into the capital markets to create new opportunities for inclusive and sustainable growth,” she said.

“Islamic finance is not just an abstract set of ideals. Its principles of fairness, risk-sharing, and social responsibility are practical tools for building economies that serve people, not just profits.”

For SEC, the collaboration signals its commitment to broadening Nigeria’s financial ecosystem. Abdulkadir Abbas, Director at the SEC, told PRNigeria that the regulator has already developed a robust framework for non-interest capital markets.

“As regulators of the capital market, we are keen on developing all segments, including non-interest finance. We have frameworks that cover fintechs, crowdfunding, and even Sharia-compliant tokenization. This partnership allows us to create awareness, attract innovators, and build a resilient ethical finance system in Nigeria,” Abbas said.

He further highlighted SEC’s 10-year master plan for non-interest finance, which is set to expire this year, noting that the regulator had introduced innovative products such as Sukuk to support infrastructure financing.

Managing Director, Metropolitan Skills Ltd, Yinlaifa Edolo, explained that hosting the pitch competition ahead of the main conference reflects Metropolitan’s resolve to build an ecosystem where ethical finance drives real innovation.
“The N5 million grant is not just a prize. It is seed capital for transforming bold ideas into enterprises that can reshape industries. Our focus is to inspire startups, support small businesses, and show that halal and ethical finance can power inclusive growth in Africa,” she said.
Backing this view, Abimbola Ajinibi, Regional Manager, First Trustees, a longtime partner of Metropolitan, said the last decade has witnessed a remarkable transformation in Nigeria’s Islamic finance space.
“Ten years ago, there was little awareness about instruments like Waqf, Sukuk, or ethical crowdfunding. Today, we have federal and state Sukuk projects worth over a trillion naira financing roads, schools, and hospitals. We’ve moved from theory to real impact,” he said.
Industry experts believe that by embedding Islamic finance principles in Africa’s economic development, countries like Nigeria can build more resilient financial systems that address unemployment, poverty, and inequality while remaining competitive in global markets.

As preparations build up to the November AICIF conference, the Abuja pitch competition has set the stage for regulators, innovators, and investors to work together in driving Africa’s halal economy and advancing inclusive prosperity.