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Amaanah Non-Interest Finance Company has commenced operations in Nigeria, after securing Central Bank of Nigeria’s (CBN) licence.
The company was formally launched yesterday, October 1, 2026, at The Providence Hotel, Lagos, with stakeholders in the financial services, business, investment and non-interest finance sectors in attendance.
Themed, “Financial Independence: Empowering Lives Through Ethical Finance,” the event focused on the role of ethical finance in widening access to capital, supporting businesses and promoting financial inclusion.
The launch was chaired by the Chairman of NGX Group, Dr. Umaru Kwairanga, while the Chairman of the Nigerian Economic Summit Group (NESG), Mr. Niyi Yusuf, served as co-chair. The keynote address was delivered by the Chief Imam of the University of Abuja, Prof. Taofeeq Azeez.
Speaking at the event, Chairman of Amaanah, Dr. Akeem Oyewale, said the company was established to provide financial solutions that align with customers’ values while supporting businesses and individuals to achieve their financial goals.
“Our ambition at Amaanah is to contribute to a financial ecosystem where people can access solutions that align with their values, where businesses can obtain responsible financing to grow, and where individuals can pursue their aspirations with greater confidence and dignity,” he said.
In his keynote address, Azeez said Nigeria needed broader sources of capital to finance infrastructure, expand businesses and create jobs.
He said traditional sources of bank financing and government funding alone could not meet the country’s capital needs, stressing the need for a financial system capable of mobilising funds from multiple sources.
“Nigerians require significant capital to finance infrastructure, expand businesses, and create jobs. Governments and traditional sources of bank financing as we know cannot meet up these requirements alone,” he said.
He added that Nigeria needed financial ecosystems that were “broader, cheaper and more inclusive” and capable of efficiently mobilising capital from multiple sources.
The Acting Managing Director/Chief Executive Officer of Amaanah, Dr. Adewumi Oni, said the company was established to provide purposeful and impact-driven financial solutions while complying with Shariah principles.
“Amaanah is where finance meets with purpose, opportunity meets with principles and prosperity is built with principles,” Oni said.
He said the company was founded around the question of how finance could go beyond providing access to money.
According to him, Amaanah’s solutions are designed to address the financial needs of individuals and businesses while ensuring compliance with Shariah principles.
Its products include Business Asset Financing, designed to help eligible businesses acquire productive assets to expand their operations and capacity.
For households, the company offers HomeFlex to provide financing for essential home appliances, while FlexiWheels provides financing for eligible vehicles for work, business and other productive activities.
Amaanah also offers investment solutions, Wealth Advisory and Funds Management services for individuals and businesses seeking to manage, preserve and grow their wealth through ethical financial structures.
The company said it would deploy technology to widen access to its services through the Amaanah Investment App and Amaanah Marketplace, which connects customers with financing solutions for appliances, vehicles and other eligible assets.
The launch also featured a panel discussion on “Mobilising Local Capital for SME Growth: Challenges & Non-Interest Finance Opportunities.”
The panel examined the financing challenges confronting small and medium-sized enterprises (SMEs) and how non-interest finance could provide alternative sources of capital for business expansion.
Panelists included the President of the Non-Interest Finance Association of Nigeria (NIFAN) and Managing Director of Arthur Group, Dr. Basheer Oshodi; Managing Director of Hilal Takaful, Mr. Abdur-Rasheed Babalola, mni; and non-interest finance expert, Mrs. Sherifat Animashaun.
The session was moderated by the Chief Operating Officer of Amaanah Centre for Entrepreneurship Opportunities, Mrs. Aisha Olowo.
The event also featured a demonstration of Amaanah’s technology platforms and an account-opening drive, allowing participants to experience its digital financial services.
The company said its launch marked the beginning of an institution focused on using finance to support asset ownership, business growth, investment and greater economic independence.
Amaanah said it would seek to contribute to a more inclusive financial system by providing responsible financial solutions to individuals and businesses while operating within ethical and Shariah-compliant principles.
