NGX deepens market inclusion, transparency in Islamic finance
The Nigerian Exchange Limited is on a mission to enhance market inclusion and transparency within the Islamic finance sector.
This, according to a press statement sent to PUNCH Online by the NGX on Friday, reaffirming its leadership position at the recently concluded 7th African International Conference on Islamic Finance.
At the conference, the statement quoted the Group Chairman of the Nigerian Exchange Group, Umaru Kwairanga, as emphasising 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”, Kwairanga said.
The two-day conference, held in Lagos from November 4 to 5, 2025, was organised by the Metropolitan Skills Limited in collaboration with the Securities and Exchange Commission, brought together policymakers, regulators, development partners, and market participants.
The discussions centered around vital policy reforms, innovative product development, and strategies aimed at unlocking liquidity across Africa’s Islamic finance markets.
With over N1.3tn listed Sukuk, the NGX is well-positioned to capitalise on the growing appetite for ethical investment.
The Chief Executive Officer of NGX, Jude Chiemeka, commented on the strategic significance of non-interest finance, stating, “Our Non-Interest Finance Board represents more than just a 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.”
The conference also highlighted discussions led by Vice President Kashim Shettima, represented by his Special Adviser to the President on Economic Matters, Dr. Tope Fasua.
He remarked, “Islamic finance is a credible mechanism for fostering equitable prosperity and sustainable development, and broader adoption across African economies is essential.”
As Nigeria’s non-interest capital market continues to expand, significant strides have been made, including sovereign Sukuk issuances that have raised over N1.4tn to fund various national projects.
This underscores Nigeria’s growing influence in shaping the future of Islamic finance across Africa.
In conclusion, with the goals of enhancing market inclusion and ensuring transparent operations in the Islamic finance sector, the NGX is paving the way for a robust financial ecosystem that promotes ethical and sustainable investments across the continent.
NGX earlier announced the declaration of an interim dividend of N1.00 per ordinary share of 50 kobo each, following the approval of its unaudited financial statements for the third quarter ended September 30, 2025.
The decision was reached at the meeting of the Group’s Board of Directors held on Wednesday, October 29, 2025.
The NGX Group Plc is the holding company for a diversified portfolio of businesses operating across the financial market ecosystem in Nigeria.
It is the successor entity to the erstwhile Nigerian Stock Exchange (NSE), which demutualised in March 2021.
