Nigeria’s non-interest banking sector has continued to expand, with total assets reaching ₦4.39 trillion, according to data from the Central Bank of Nigeria (CBN).
The sector also recorded about ₦1.43 trillion in financing and advances, showing growing activity in Islamic and other non-interest financial services.
Non-interest banking provides financial products based on principles that avoid conventional interest charges. In Nigeria, the sector includes institutions such as Jaiz Bank, Lotus Bank and TAJBank.
The growth comes as demand for alternative financial services increases, while regulators continue to strengthen the framework for non-interest banking in the country. The CBN remains responsible for regulating the banking sector and overseeing monetary and financial stability.
