Newsroom
Policy movement, industry data, member milestones and the research behind our positions on non-interest finance in Nigeria.
7 articles
Non-interest finance is a regulated financial system that earns returns from trade, leasing and partnership instead of interest. It is licensed in Nigeria by the CBN, SEC and NAICOM, and it is open to customers of every faith.
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Murabaha is a cost-plus sale: the bank buys the asset, then resells it to you at a disclosed mark-up payable in instalments. The price is fixed at signing and cannot rise — not with the policy rate, and not if you fall behind.
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Three regulators share the mandate: the CBN licenses non-interest banks, the SEC registers Shariah-compliant funds, and NAICOM licenses takaful operators. The NDIC insures deposits, and the DMO issues sovereign sukuk.
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Yes — non-interest bank deposits are insured by the NDIC up to ₦5,000,000 per depositor, the same limit as conventional banks, and paid from a separate Shariah-compliant fund. Here is exactly what is protected and what is not.
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NIFIAN's third industry webinar, “Transformational Development through Non-Interest Finance.” Update the 2021 exclusion figure to EFInA 2023
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Why risk-and-return sharing performs differently through a downturn. Expand or redirect — currently too thin
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The collaboration with the CBN on Shariah-compliant liquidity instruments — a non-interest master repurchase agreement, non-interest asset-backed securities and non-interest notes.
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Build note: in the WordPress build this becomes the Posts archive template specced in content/09-news-templates.md, with five categories, five reusable article formats and NewsArticle schema per post. All seven articles above are live pages — four explainers written for this build, and three posts migrated from the current nifian.org. Publishing cadence: two posts a month — one explainer, one news item.
Editorial standards
An association asking Nigerians to trust a new financial model cannot quietly rewrite its own record.
Articles are published by NIFIAN for general information about non-interest finance in Nigeria. They are not investment, tax, legal or religious advice, and are not a recommendation to buy or use any product. Speak to a licensed institution and, where relevant, its Advisory Committee of Experts.
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The Secretariat provides industry data, arranges comment from the Executive Committee, and points you to the relevant member institution where a question is institution-specific.
