The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, hosted the 35th Governing BoardMeeting of the International Islamic Liquidity Management Corporation (IILM) at the CBN Headquarters, Abuja, on Wednesday, December 3, 2025.
The meeting, which is the first time Nigeria has hosted this statutory gathering since the founding of the IILM, coincides with Mr. Cardoso’s tenure as Chair of the IILM’s Governing Board, a role that rotates annually among member institutions. This milestone further highlights Nigeria’s increasing prominence in the global Islamic finance ecosystem and its dedication to enhancing its non-interest financial markets.
The IILM Governing Board, comprising central bank leaders from Indonesia, Kuwait, Malaysia, Mauritius, Nigeria, Qatar, Türkiye and the UAE, alongside the ICD,met in Abuja to review 2025 performance and set new strategic priorities for global liquidity management.
Under Nigeria’s 2025 Chairmanship, the IILM achieved major milestones including stronger sukuk issuances, wider investor participation, and enhanced liquidity tools for Islamic financial institutions. Focused leadership, Strategic impact.
As part of the IILM programme, the CBN hosted a capacity-building workshop on Islamic Liquidity Management for Nigeria’s non-interest banking subsector, boosting technical expertise and deepening market development. 5/8
By hosting the 35th IILM Governing Board Meeting. Nigeria reinforces its commitment to a stronger, more inclusive global financial system.
The meeting was attended by the Deputy Governor, Financial System Stability, Mr. Philip Ikeazor, who was represented by the Deputy Governor, Operations, Dr. Bala Mohammed Bello; the Assistant Governor for Monetary Policy and Financial Stability of the Central Bank of the United Arab Emirates, Mr. Ebrahim Obaid Al Zaabi; the CEO of the Islamic Corporation for the Development of the Private Sector, H.E. Dr. Khalid Khalafallah, CEO of the IILM, Mr. Mohamad Safri Shahul Hamid and senior representatives of member authorities.
It also boosts investor confidence in Nigeria’s rapidly expanding non-interest financial sector, promotes knowledge exchange with leading Islamic finance jurisdictions, and enhances the CBN’s broader financial inclusion agenda by strengthening market structures for Shari’ah-compliant instruments.
#