Emir Sanusi Urges Nigerians to Diversify Finances as UTL Unveils Halal Fund

The Emir of Kano, Muhammadu Sanusi II, has urged Nigerians to diversify their finances and embrace ethical investment opportunities, saying individuals and businesses should look beyond conventional savings and loan accounts to strengthen their financial security.

Sanusi made the call on Monday during the unveiling of the UTLAM Halal Fund and the commissioning of the Kano offices of UTL Trust Management Services Limited and UTL Asset Management Limited.

The fund offers investors access to a professionally managed portfolio of selected Shari’ah-compliant investment opportunities designed to support wealth creation in accordance with Islamic principles. The development was disclosed in a statement issued by UTL Trust Management Services and signed by Oduneye Oluwapelumi.

The monarch encouraged individuals and business owners to explore a broader range of financial products, including insurance and investment services, stressing their importance in protecting families, securing businesses and building a lasting legacy.

“I would like to urge every one of us to consider broadening our financial portfolios from just savings and loan accounts to insurance products, exploiting services that are offered by institutions like these,” Sanusi said.

He also highlighted the financial difficulties faced by businesses in Kano following incidents such as fire outbreaks, theft and sabotage. According to him, some businesses have been forced to close after suffering losses without adequate financial support to recover.

Sanusi noted that financial products structured in line with Islamic principles could provide business owners with additional options for protecting their assets and improving their financial resilience.

Speaking at the event, UTL Chairman, Dr Shamsuddeen Usman, said the opening of the Kano office was intended to bring the company’s services closer to residents and businesses rather than simply increase its number of branches. He added that the company had introduced Shari’ah-compliant services for customers in the state, following review and approval by its Shari’ah advisory board.

Usman said the office would provide services including trust management, wills and other Shari’ah-compliant investment opportunities for individuals and institutions. Meanwhile, UTL Trust Management Services Executive Director, Omotoro Olaide, described the opening as an important step in the company’s efforts to expand its services across Northern Nigeria.