The Emir of Kano, Muhammadu Sanusi II, has urged Nigerians to diversify their finances and protect their assets through insurance and investment products, warning that businesses risk severe losses when they lack adequate financial protection.
Sanusi spoke on Monday at 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.
He urged individuals and business owners to look beyond conventional savings and loan accounts and explore other financial services, including investments that comply with Islamic principles.
“I would like to urge every one of us to consider broadening our financial portfolios from just savings and loan accounts to insurance products,” the emir said.
He added that financial planning was important not only for individuals and their families but also for those seeking to leave a lasting legacy.
Sanusi said businesses in Kano had suffered substantial losses from fire outbreaks, theft and sabotage, with some forced to close because they lacked access to financial services that could help them recover.
He noted that investment and insurance products compatible with Islamic principles could help business owners protect their assets and improve their financial security.
The newly unveiled UTLAM Halal Fund provides access to a professionally managed portfolio of selected Shari’ah-compliant investment opportunities, designed to support wealth creation in line with Islamic principles.
Chairman of UTL, Shamsuddeen Usman, said the opening of the Kano office was intended to make the company’s services more accessible to residents rather than simply increase its number of branches.
“We are not just opening an office in Kano to add to our number of offices; we are in Kano to bring our services to the doorsteps of the people of Kano,” he said.
Usman said the company had introduced Shari’ah-compliant services for customers in the state, adding that the products had been reviewed and approved by its Shari’ah advisory board.
He said the Kano office would provide trust management, wills and other Shari’ah-compliant investment services to individuals and institutions.
The Executive Director of UTL Trust Management Services Limited, Omotoro Olaide, described the office opening as a significant step in the company’s efforts to serve clients across Northern Nigeria.
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