Nigeria’s non-interest capital market has expanded in value to N1.6 trillion as of August 2025, the Securities and Exchange Commission (SEC) announced at a press briefing in Abuja.
At the briefing, SEC Director-General Emomotimi Agama said the growth reflects rising investor confidence and deeper participation in ethical financial instruments.
He noted that Sukuk continues to dominate Nigeria’s non-interest market, pointing out that the most recent issuance was oversubscribed by more than 700 percent — a sign of strong appetite for faith-based investment options.
Agama also highlighted the role of the newly enacted Investments and Securities Act (ISA) 2025 in strengthening the legal and regulatory framework for non-interest instruments.
Stakeholders say the milestone is significant for Nigeria’s financial inclusion goals. It signals that ethical finance is becoming more mainstream and offers alternatives for Nigerians previously excluded from conventional capital markets.
Going forward, sustaining momentum will require deeper product diversification, enhanced awareness, and consistent regulatory support. The upcoming African International Conference on Islamic Finance (AICIF) in Lagos is expected to spotlight these issues and drive further collaboration.
