AUN’s School of Business and Entrepreneurship (SBE) has hosted a Brown Bag Seminar highlighting the growing relevance of non-interest finance, an emerging financial model increasingly seen as a solution to long-standing gaps in Nigeria’s traditional banking system.
Held recently on the university campus in Yola, the seminar brought together faculty members, researchers, and students for an engaging discussion on how non-interest finance provides a viable alternative to conventional interest-based banking, particularly in addressing persistent challenges within the Nigerian financial sector.
The session was facilitated by Mrs. Aisha Lami Hammani, a Certified National Accountant and faculty member in Accounting and Finance at AUN. Her presentation, titled “Non-Interest Finance in Nigeria: Principles, Evolution, Opportunities, and Challenges,” explored the foundational principles of non-interest finance, its evolution in Nigeria, and the regulatory frameworks that guide its operations.
Mrs. Hammani explained that non-interest finance operates on core principles such as risk-sharing and asset-backed transactions, distinguishing it from traditional interest-based banking models. She noted that the growing adoption of this financial system reflects persistent challenges in Nigeria’s financial landscape, including financial exclusion and limited access to funding for small and medium-sized enterprises (SMEs) as well as infrastructure-related projects.
According to her, although non-interest finance is gaining traction, research in the field remains limited. She emphasized that existing studies are “fragmented and often lack a comprehensive perspective on its principles, growth, and regulatory environment.”
Mrs. Hammani further stressed that non-interest finance should not be viewed solely through a religious lens, but as a “modern financial model capable of promoting financial inclusion, supporting SME development, and contributing to sustainable economic growth.”
Bringing more than 18 years of professional experience in accounting, finance, management, and revenue generation, Mrs. Hammani holds an MBA and an MSc in Accounting and Finance from the University of Nottingham. She is also an entrepreneur and is currently pursuing a PhD at AUN’s School of Business and Entrepreneurship.
The SBE Brown Bag Seminar Series continues to serve as one of AUN’s most dynamic platforms for academic exchange, offering opportunities for faculty and researchers to present ideas, examine emerging trends, and contribute to development-focused conversations within Nigeria and beyond.
Reported by Pwagreno Blessing Moris