NGX Reaffirms Leadership in Islamic Finance, Commits to Deepening Market Inclusion and Transparency

The Nigerian Exchange Limited (NGX) has forcefully reaffirmed its dedication to enhancing market inclusion and transparency within the Islamic finance sector, following its active participation in the recently concluded 7th African International Conference on Islamic Finance (AICIF), held in Lagos.

In a statement released today, Saturday, November 8, 2025, the NGX emphasized the strategic importance of non-interest finance in driving sustainable economic growth.

The Group Chairman of the Nigerian Exchange Group, Alhaji (Dr.) Umaru Kwairanga, underscored the pivotal role of the NGX’s Non-Interest Finance Board in achieving these objectives. “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,” Dr. Kwairanga stated.

Commitment to Ethical Growth

The Chief Executive Officer of NGX, Jude Chiemeka, further highlighted the strategic significance of the dedicated platform. “Our Non-Interest Finance Board represents more than just a platform; it embodies our commitment to unlocking ethical capital, diversifying investment opportunities, and ensuring sustainable development,” Chiemeka said.

Nigeria’s non-interest capital market has recorded robust growth. Data from the Securities and Exchange Commission (SEC) shows the sector is now valued at over N1.6 trillion, with the sovereign Sukuk program alone having raised over N1.4 trillion to fund critical national road projects. The NGX currently lists over N1.3 trillion in Sukuk, reflecting the growing appetite for ethical and non-interest investments both locally and internationally.

The AICIF conference, which brought together policymakers, regulators, and market participants, focused on policy reforms and product innovation aimed at unlocking liquidity across Africa’s Islamic finance markets. By leveraging this momentum, the NGX is strategically setting the stage for inclusive growth and aiming to position Nigeria at the forefront of the Islamic finance landscape in Africa.