‘Wealth Must Be Protected’ — Sanusi urges Muslims to embrace ethical investments

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By Hadiza Yusuf

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KANO — The Emir of Kano, Muhammadu Sanusi II, has urged Muslims to diversify and protect their wealth through ethical and Sharia-compliant financial products.

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Sanusi made the call on Thursday at the launch of Afrinvest’s Ethical Wealth Solutions and Stakeholders Session in Kano.

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The Emir said the availability of Islamic financial products would help address concerns that had kept some Muslims away from conventional banking and other financial services.

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He urged Muslims to explore banking, insurance and investment opportunities that comply with Islamic principles, stressing the need for effective wealth management and protection.

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Sanusi also encouraged traders to embrace insurance, particularly in view of the frequent fire incidents recorded in markets across the country.

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“These past few years, we have heard of infernos in markets. It is a natural occurrence. Today it is your neighbour, tomorrow it may be you,” he said.

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“We encourage traders to take up insurance to prevent the loss. When you have a fire, it should not be the end of your business or make you go bankrupt,” the Emir added.

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Speaking at the event, Group Managing Director of Afrinvest West Africa, Ike Chioke, said the company’s expansion in Kano was built around trust, long-term relationships and providing residents with access to diverse investment opportunities.

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“The key message here is one of trust and relationship. Afrinvest is a trusted institution. We have been around for 30 years and have built a business based on reputation, relationships and trust,” Chioke said.

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He disclosed that the Afrinvest Foundation had established a 35-seater Information and Communication Technology (ICT) centre at the Emir’s Palace.

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According to him, the centre is equipped with a 15-kilowatt solar power system and internet connectivity to provide young people with access to digital education and learning opportunities.

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Chioke said the facility would also enable users to access digital resources, including materials from major libraries around the world.

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He added that the Emir’s Palace has a collection of more than 300,000 books, many of which have been digitised, providing access to materials on Kano’s history and culture.

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On Afrinvest’s investment products, Chioke highlighted the company’s Sharia-compliant offerings, including the Afrinvest Halal Fund and ethical stocks available through its digital investment platform.

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He said the Afrinvest Halal Fund was managed under the supervision of a committee of experts to ensure compliance with Islamic principles.

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“Afrinvest is not just a financial advisory firm that sells all manners of financial products and services. We also have Sharia-compliant investment products for Islamic faithful clients,” Chioke said.

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He explained that customers could use the Afrinvestor app to invest in ethical stocks listed on the Nigerian Exchange, as well as access federal savings bonds, commercial papers and treasury bills.

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The session provided a platform for stakeholders to discuss ethical investing, wealth preservation and financial inclusion, particularly among Muslims seeking financial products that align with Islamic principles.

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