Director General, Securities and Exchange Commission (SEC), Lamido Yuguda, said the non-interest capital market (NICM) is also expected to lead to emergence of 100 retail Shariah-compliant products and more than one million direct investors in Shariah-compliant products with at least N5 trillion investment by institutional investors in Shariah compliant products.
According to Yuguda, the stride and significant achievements recorded by the masterplan is evidenced by the last ranking of Nigerian Islamic Finance in 13th place on the global Islamic Finance Development Indicator 2021, with the assets under management valued at N2.30 billion; which is higher than countries like Bangladesh and Turkey.
