Emir of Kano on Poverty Reduction

Yusuf Odukoya
Published: March 3, 2023

Share this post 👇🏽


The Emir of Kano, Muhammadu Sanusi II (CON), on Monday in Kano, charged the management of The Alternative Bank to focus more on Agriculture financing in support of the Federal Government’s goals of diversifying the economy to address the country’s almost total dependence on proceeds from the Oil and Gas sector. The Emir encouraged the bank to remain focused and committed to the agriculture sector in line with its pioneering work.

In 2017, The Bank won the Best Bank in Support of Agriculture Award at the Business Day Banking Awards and Agric Bank of the Year 2017 at the Nigeria Agriculture Awards Committee. The bank also won the Best Agric Finance Bank of the Year 2016 from the Zamfara branch of the Central Bank of Nigeria (CBN) and the Best Performing Bank under the Commercial Agricultural Credit Scheme (CACS).

In his keynote address, at a one-day conference, organized by The Bank in Kano, on Non-Interest Banking (NIB), the Royal Father, also counseled the management of the bank to outline the advantages of Non-Interest Banking to the business community in Kano, the commercial nerve centre of Northern Nigeria.

According to Emir Sanusi II, hitherto, the business community depend on conventional banking models, adding that, with the advent of Non-Interest Banking, the situation has changed, as they can now enjoy profit sharing and have insurance cover on funds while reducing poverty in the society, among other benefits.

”With Non-Interest Banking, it is now inexcusable for people not to be banked or under-banked”, the Emir said.

Also, Sanusi advised the management of Sterling Bank to crisscross the commercial city of Kano to educate the business community that by adopting Non-Interest Banking, they are reducing poverty, as well as imbibing the culture of frugality.

Earlier, in his welcome address, the bank’s CEO urged members of the Kano business community to adopt Non-Interest Banking. He said it will enable them to lend their surplus to the Bank which would in turn extend it to aspiring and emerging entrepreneurs as well as needy members of the public, who will invest it in their respective business enterprise.

Mr. Suleiman disclosed that the essence of the conference is to create awareness of the existence and benefits of Non-Interest Banking to the business community at large. Mr. Abubakar Suleiman, whose elevation as the Managing Director of Sterling Bank, takes effect from April, said all those, who adopt Non-Interest Banking will be covered by insurance in the event of incurring any loss, which is absent in conventional banking.

The Kano State Governor, Alhaji Umar Ganduje represented by the commissioner for Commerce, Industry, Cooperatives, and Tourism, Alhaji Ahmed Rabiu expressed the Government’s commitment to partnering with the bank in sensitizing individuals, farmers, and businesses on the benefits of Non-Interest Banking. Alhaji Rabiu noted that the State Government will support the bank in whatever capacity to amplify the sensitization drive.

Papers related to Non-Interest Banking were presented by scholars at the event.

Share this post 👇🏽

0 0 votes
Article Rating
Notify of
Inline Feedbacks
View all comments

Subscribe to Updates

Be the first to know when we publish new content! Join the Newsletter today.

Tell us your story

Select your OS

Find the perfect app version for your device by choosing your OS below. You will be redirected to your app store.

Abubakar Muhammad Musa


Abubakar Muhammad Musa is currently a Sharia Advisor and Consultant for SHAPE Knowledge Services a consulting firm based in Kuwait. He has been involved in product development, Sharia research and approval of Islamic banking products for different clients. His work covers retail banking, corporate banking and project finance deals.

Formerly, Abubakar worked as a Researcher in different units at International Shariah Research Academy for Islamic Finance (ISRA) in Kuala Lumpur, Malaysia. Besides his primary assignments in ISRA, he taught Shariah Rules in Financial Transactions to Chartered Islamic Finance Professional (CIFP) Masters online Students of International Centre for Education in Islamic Finance (INCEIF), Malaysia. He also taught MBA and BBA Students different Islamic Banking and Finance Subjects at University College of Bahrain.

Abubakar holds two Diplomas with distinction, one in Islamic Law and the other in Arabic Language from Al-Imam University Riyadh. He also holds LLB (Hons) degree in Shariah from the same University. He successfully completed his (CIFP) Professional Masters Degree Programme at (INCEIF), Malaysia. He had his internship program on Islamic Banking & Finance at Fajr Capital in Kuala Lumpur. During the programme, Abubakar conducted research relating to product structuring and market development.

Abdurraheem Ahmad Sayi


Abdurraheem Ahmad Sayi is a legal practitioner and Consultant of over 16 years of active legal practice. He is currently the principal partner, A.A. Sayi & Co. (Qist Chambers) and Qadi, Independent Shari’ah Panel of Lagos State – a platform, through which he has delivered several judgments of in-depth analysis, widely applauded by leading legal and intellectual icons, including learned Judges, professors of law and Islamic Studies.

He is the Executive Director/C.E.O., ClearPath Islamic Centre (Incorporated), Lekki-Lagos and Chief Imam, SilverPoint Central Mosque, Badore, Ajah-Lagos. Fondly called Imam Sayi, Abdurraheem is the designate Chairman, Shari’ah Advisory Committee, Mutual Benefit Takaaful.

Imam Sayi has also authored a few works, some of which include: The Financial Obligations: a compendium of essays on monetary or material obligations under Islamic Law and Waqf (Charity Endowment): The Governing Principles.

He holds a Certificate on Improving Personal Effectiveness from the Lagos Business School (Pan African University) and he is a recipient of numerous awards and certificates of merits.

Abdulkader Thomas


Master of Arts Law and Diplomacy, The Fletcher School of Law & Diplomacy.

Bachelor of Arts Arabic & Islamic Studies, The University of Chicago.

Shariah Board Experience:

Bank Muscat Meethaq (2013 – 2017)

Sterling Bank Nigeria (Since 2013)

University Bank, USA (Since 2006)


Abdulkader Thomas has over 35 years of diversified financial services experience in major markets. With a Master of Arts Law and Diplomacy from The Fletcher School of Law & Diplomacy and a BA in Arabic & Islamic Studies from The University of Chicago. His areas of activity have included trade finance, real estate finance, securities and alternative finance.

As the general manager of a foreign bank branch in New York, he secured the first US regulatory approvals of Islamic mortgage and instalment credit/sale as banking instruments. Later, he secured US regulatory approval for profit sharing deposits. Abdulkader has been involved in the successful implementation of these products in the US market. With more than 17years Shariah Board Experience in Bank Muscat Meethaq, Sterling Bank Nigeria and University Bank USA, Abdulkader has worked on IFTA projects in Europe, Africa, Southeast Asia, and an authority on Islamic deal structures and securities.

He also serves as a director of Alkhabeer Capital in Jeddah and Chairman of Alkhabeer (DIFC). He is a member of the international advisory board of the Securities Commission of Malaysia, a published author, and an active speaker on Islamic finance.