Net Asset Value of Shariah-Compliant Funds in Nigeria on the Rise

Speaking on “Dynamics of Portfolio Investment in Non-Interest Finance”, Chidi Uzo, Head, Investment Strategy & Research at CitiTrust Asset Management Limited, remarked that the net asset value (NAV) of Shariah-compliant funds in Nigeria rose 174% between December 2019 and August 2021.

Why it Matters?

Uzo spoke in detail about investments and how it is not wise to keep large amounts of cash in hand, especially in places that are affected by high inflation. For example, the current headline inflation rate in Nigeria (for August 2021) stands at 17.1%. There are 9 ethical funds in the market, with 78% of them being Islamic and 22% being categorised as ethical.

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