Bayero University Kano (BUK) is poised to diversify its funding sources by entering into a partnership with Lotus Capital Limited, a leading ethical investment firm in Nigeria that specializes in Islamic finance. This was disclosed during a visit by Lotus Capital’s team to the office of the Vice-Chancellor, Professor Sagir Adamu Abbas, on Tuesday, October 2, 2024.

In his remarks, Professor Abbas welcomed the collaboration, noting that the university is exploring ways to reduce reliance on traditional government funding. “Universities were designed to spend money, but with dwindling federal support, we must seek alternative funding sources,” he explained, pointing to the growing student population and the need for additional resources to meet educational demands.

Prof Abbas requested the team to draft a Memorandum of Understanding (MoU) for review, with the goal of establishing a long-term, mutually beneficial relationship.

 Lotus Capital's Business Development Manager, Aminu Abdul Hakeem, expressed appreciation to the Vice-Chancellor and emphasized the potential synergies between the two institutions. He outlined investment opportunities such as Halal Fixed Income and Mudarabba investments, which are Sharia-compliant and offer quarterly returns.

Earlier, in his speech, Aminu Abdul Hakeem, Business Development Manager said their visit was to explore collaborative opportunities with the University.  He explained the different equitable market investment opportunities that available in LOTUS Capital Investment. “We have Mutual funds or the Halal Fixed and the Mudarabba Investment in line with Islamic equity market,” he said.