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Amaanah Non-Interest Finance Company, the first non-interest finance company licensed by the Central Bank of Nigeria (CBN), has officially commenced operations in Lagos with a range of financial solutions targeting individuals and businesses seeking ethical financing, asset acquisition and investment opportunities.
The company’s launch on Thursday brought together stakeholders from the financial, business and economic sectors, with NGX Group Chairman Dr Umaru Kwairanga serving as chairman of the event and Nigerian Economic Summit Group Chairman Niyi Yusuf as co-chair. The keynote address was delivered by the Chief Imam of the University of Abuja, Prof. Taofeeq Azeez.
Amaanah targets values-based financial access
In his welcome address, Amaanah Non-Interest Finance Company Board Chairman, Dr Akeem Oyewale, said the company aims to build a financial institution that connects access to finance with the values and aspirations of its customers.
“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,” Oyewale said.
The launch also highlighted the broader role of ethical finance in expanding financial participation and supporting economic empowerment.
Prof. Azeez said Nigeria requires substantial capital to finance infrastructure, expand businesses and create employment, noting that government resources and conventional bank financing alone would not be sufficient to meet the country’s financing needs.
“We need financial ecosystems that are broader, cheaper and more inclusive – one capable of mobilising capital from multiple sources, and efficiently,” he said.
Non-interest finance targets individuals and businesses
Acting Managing Director and Chief Executive Officer of Amaanah Non-Interest Finance Company, Dr Adewumi Oni, outlined the company’s approach to providing financing and investment solutions across personal, business and wealth-management needs.
“Amaanah is where finance meets with purpose, opportunity meets with principles, and prosperity is built with principles,” Oni said.
He said the company was established around a broader question of whether financial services can provide more than access to capital.
“In answering this core question, we provide purposeful and impact-driven finance solutions, whilst ensuring that Shariah principles are not breached,” he said.
The company’s product portfolio is structured around asset acquisition, household needs, mobility, investment and wealth management.
Through its Business Asset Financing solution, Amaanah provides eligible businesses with financing to acquire productive assets that can support day-to-day operations, increase capacity and facilitate expansion.
For households, HomeFlex offers financing options for essential home appliances, enabling customers to acquire products intended to improve convenience and quality of life.
Financing assets and productive mobility
Amaanah’s FlexiWheels product provides financing for eligible vehicles, targeting individuals who require mobility for employment, business operations and other productive economic activities.
The company also offers investment solutions designed to allow individuals and businesses to participate in investment opportunities through ethical investment structures.
Its Wealth Advisory and Funds Management services are targeted at customers seeking to manage, preserve and grow their assets while taking their financial objectives and ethical considerations into account.
The range reflects Amaanah’s focus on extending non-interest financial services beyond conventional financing into asset ownership, investment and wealth management.
Technology supports access to Amaanah services
Technology is also central to the company’s approach to expanding access to its products.
The Amaanah Investment App is designed to simplify access to investment opportunities, providing customers with a digital channel through which they can engage with the company’s investment offerings.
Amaanah Marketplace provides another digital access point, connecting customers with financing options for products such as household appliances, vehicles and other eligible assets.
By combining non-interest financial structures with digital channels, Amaanah is positioning its platform around broader access to financing, investment and asset-building opportunities.
The company’s launch comes as Nigeria’s financial sector continues to develop alternative financing models aimed at widening participation and providing individuals and businesses with additional options for accessing capital and managing their financial objectives.
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