Emir Sanusi Urges Nigerians to Diversify Investments as UTLAM Unveils Halal Fund

The Emir of Kano, Muhammadu Sanusi II, has urged Nigerians to diversify their financial portfolios and explore ethical investment opportunities as interest in Shariah-compliant financial products continues to expand across the country.

The call highlights the importance of financial diversification, responsible wealth management and inclusive investment opportunities in Nigeria’s evolving financial sector.

The UTLAM Halal Fund is designed to provide investors with access to professionally managed investment opportunities structured in accordance with Islamic financial principles. According to UTL Asset Management Limited, the fund invests in a diversified portfolio of sovereign and corporate Sukuk, Islamic money market instruments and Shariah-screened equities.

The investment framework excludes interest-based transactions, excessive uncertainty, gambling and businesses considered impermissible under Islamic law. However, the fund is open to both Muslim and non-Muslim investors interested in its ethical investment approach.

UTLAM disclosed that the fund has a minimum investment requirement of ₦100,000, representing 100,000 units priced at ₦1 each. The company also stated that investors’ assets are held by an independent custodian, while an independent Shariah advisory structure oversees compliance with applicable Islamic financial principles.

The development comes amid broader efforts to expand Nigeria’s non-interest finance market and provide alternative investment options for individuals and institutions seeking financial products aligned with their values.

For Nigerian investors, financial diversification can help spread exposure across different asset classes, although investment decisions should be guided by individual financial goals, risk tolerance and a clear understanding of the terms and potential risks involved.

The introduction of specialised investment products such as the UTLAM Halal Fund could broaden participation in the capital market by offering another route to professionally managed investments.

Nevertheless, prospective investors are advised to review the fund’s prospectus, fees, investment strategy and risk disclosures before committing their money. As with other market-linked investments, returns are not guaranteed, and the value of investments may fluctuate.

Nigeria’s expanding ethical finance landscape reflects growing interest in investment structures that combine wealth creation with specific financial and religious principles. The extent to which these products deepen financial inclusion will depend partly on public awareness, investor education, transparency and confidence in regulatory oversight.

Emir of Kano Muhammadu Sanusi II urges Nigerians to diversify their investments as UTLAM introduces its Halal Fund, expanding access to Shariah-compliant and ethical financial opportunities.