Amaanah Non-Interest Finance Company has officially launched its operations in Nigeria, introducing a range of financing and investment solutions. The company, licensed by the Central Bank of Nigeria (CBN), aims to promote financial inclusion, particularly for micro, small, and medium enterprises (MSMEs). Amaanah's products and services are designed to comply with Sharia principles and CBN regulations. The company's launch event was held on October 1, 2026, in Lagos. Stakeholders emphasize the importance of financial inclusion, ethical finance, SME growth, and digital access.
Dr. Adewumi Oni, Acting Managing Director and Chief Executive Officer of Amaanah, stated that the company has a responsibility to set the tone for Nigeria's non-interest finance subsector. He emphasized that finance must serve a greater purpose, combining finance with purpose while providing solutions that comply with Sharia principles and CBN regulations. The company's name, Amaanah, meaning trust, reflects its commitment to ensuring that funds are channeled into permissible businesses and activities. Amaanah's vision is to become Africa's most trusted and impact-driven non-interest financial services provider.
Amaanah introduced three major financing products: Amana Flexi Wheels for vehicle financing, Amana HomeFlex for household appliances and equipment, and Amana BizFlex for MSME asset and inventory financing. The company also offers investment solutions, including a Goal-Based Investment Solution with a minimum investment of ₦15,000. Other investment products include the Medium Mudarabah Investment Solution and the Mudarabah Term Investment Solution. These products will be accessible through Amaanah's offices in Yaba, Lagos, and Abuja, as well as its website and mobile application.
Dr. Akeem Oyewale, Board Chairman of Amaanah, stated that the launch represents more than the unveiling of a financial institution. He described it as the beginning of a model built around ethics, transparency, responsibility, and shared prosperity. Oyewale emphasized that financial independence is an important complement to national independence. He said Amaanah aims to make ethical financial solutions more accessible to individuals, families, entrepreneurs, and businesses.
The Chairman of NGX Group, Dr. Umaru Kwairanga, expressed support for Amaanah's operations, highlighting its potential to play a significant role in Nigeria's non-interest finance sector. He emphasized the importance of SMEs in a country's development and stated that NGX is ready to partner with Amaanah to help it raise long-term capital. Kwairanga also suggested that Amaanah could potentially be listed on the exchange in the future.
Prof. Taofeeq AbdulAzeez, Imam of the University of Abuja, delivered the keynote address, linking the launch of Amaanah to Nigeria's Independence Day. He emphasized that political freedom should be complemented by financial independence. AbdulAzeez highlighted the benefits of non-interest finance, including promoting risk-sharing and connecting finance with productive economic activities. He also stressed that non-interest finance should not be regarded as a service exclusively for Muslims.
Imam Abdul-Azeez Maaruf Onike, Chief Missioner of Nasrul-lahi-li Fathi Society of Nigeria (NASFAT) and member of Amaanah's Finance advisory board, stated that the launch demonstrates the practical application of Islamic principles to everyday financial activities. He emphasized that Amaanah's focus includes providing ethical and Halal-based financing solutions. The company's products and services are expected to contribute to halal prosperity, social justice, and financial well-being in Nigeria and other African markets.
Key points
- Amaanah Non-Interest Finance Company launches operations in Nigeria with a range of financing and investment solutions.
- The company aims to promote financial inclusion, particularly for micro, small, and medium enterprises (MSMEs).
- Amaanah's products and services comply with Sharia principles and CBN regulations.
