Amaanah Finance Secures CBN Licence 

Funmi Ogundare 

Amaanah Finance Company has received its operational licence from the Central Bank of Nigeria (CBN), officially becoming the country’s first licensed non-interest finance company. 

The milestone marks a significant expansion of Nigeria’s financial services landscape and is expected to widen access to Shariah-compliant, interest-free financial solutions for individuals, small businesses, and underserved communities.

The Chairman of the Board, Dr. Akeem Oyewale, in a statement, described the licence as more than regulatory approval, calling it a mandate to reimagine how finance can serve society.

 He said Amaanah would energise the sector with ethical alternatives that uplift everyday Nigerians, empower small businesses, and extend opportunities to those often excluded from the traditional financial system.

“This licence is the foundation of a new financial future for Nigeria, one built on trust, fairness and shared prosperity,” Oyewale noted. “At Amaanah, we believe finance should serve people, not the other way around.”

The company plans to roll out a range of Shariah-compliant products including non-interest savings and investments, ethical financing for SMEs, and partnership-based contracts rooted in Islamic finance principles such as Murabaha, Ijarah, Musharakah, and Mudarabah.

As part of its growth strategy, Amaanah has also established the Amaanah Centre for Entrepreneurship opportunities, designed to nurture investment-ready micro, small and medium enterprises (MSMEs) that meet sustainability and Shariah standards. 

The centre will provide capacity-building, funding access, and business support to ensure long-term viability for entrepreneurs.

With headquarters in Lagos and a corporate office in Abuja, the company said it is preparing to roll out nationwide operations. 

Amaanah’s long-term vision is to become Africa’s most trusted non-interest financial services provider, driving economic inclusion and sustainable social impact across the continent.

“At a time when many Nigerians are seeking affordable, reliable and trustworthy financial services, Amaanah brings a refreshing approach that places people at the heart of finance,” Oyewale added.