The Securities and Exchange Commission has said Nigeria’s non-interest capital market has grown to over N1.6tn, reflecting investor confidence and participation in finance.

The Director-General of the SEC, Emomotimi Agama, disclosed this on Monday at a joint press briefing in Abuja ahead of the 7th African International Conference on Islamic Finance, scheduled to be held in Lagos on November 4 and 5, 2025.’

The conference, jointly organised by the SEC, Metropolitan Law Firm, and Metropolitan Skills Ltd., is themed ‘Africa Emerging: A Prosperous and Inclusive Outlook.’ It aims to promote ethical financing as a tool for building a resilient and inclusive African economy.

Agama said the non-interest capital market had recorded remarkable momentum, with Sukuk dominating the sector, noting that the most recent Sukuk issuance was oversubscribed by over 700 per cent, demonstrating strong investor appetite for non-interest products and confidence in the regulatory environment.

“The non-interest capital market has attained a valuation of N1.6tn. The overwhelming subscription to our Sukuk issuances demonstrates strong investor confidence and an expanding demand for ethical financial instruments,” he said.

He added that the enactment of the Investments and Securities Act 2025 had strengthened the legal foundation for non-interest financial products, empowering the SEC to register non-interest collective investment schemes and broaden investment options for Nigerians.

According to him, the upcoming African International Conference on Islamic Finance will feature high-level discussions on unlocking capital for infrastructure, green and ethical investments, agricultural financing, and the role of fintech in advancing Islamic finance across the continent.

Agama said the conference was strategically positioned to coincide with the conclusion of the Revised Nigerian Capital Market Masterplan (2021–2025), adding that it would help chart the next phase of sustainable financial development in Africa.

Also speaking, the Managing Partner of Metropolitan Law Firm and Chairman of the AICIF 2025 Planning Committee, Ummahani Amin, said the event had become one of the most important gatherings for policymakers, regulators, and investors advancing ethical and sustainable finance in Africa.

She added that the partnership with the SEC underscored a shared vision to strengthen the Islamic finance ecosystem, deepen investor confidence, and support innovation that aligns with integrity and shared prosperity.