Nigeria’s Overall Market Capitalisation by 2025 Targeted to Include 25% Contribution from Islamic Capital Market

Nigeria’s Securities Exchange Commission (SEC) is working towards achieving a contribution of 25% of the overall market capitalisation from the Islamic capital market by 2025, including 15% from outstanding Sukuk bond issuances.

Why it Matters?

Lamido Yuguda, Director General of the SEC speaking at the 2021 African International Conference on Islamic Finance in Abuja, Nigeria, said that the SEC encourages corporate entities to support the Islamic capital market by providing an environment conducive to investment.  Ibrahim Boyi, Executive Commissioner Corporate Services of the SEC who also spoke at the event, said that due to the asset-based and project-linked investment features, Islamic finance instruments are generally classified globally as ac...