Evolve from custodians of mosques to architects of economies – Financial expert urges Islamic leaders

TUNDE ADELEKE, Osogbo

The Founder and President of Sequoia Holdings, Adesola Adeduntan, has urged Islamic leaders in Nigeria to redefine their roles beyond spiritual custodianship and assume active leadership in economic development, describing the move as critical to the long-term empowerment of the Muslim community.

Adedutan, a Nigerian banking executive and former CEO of First Bank of Nigeria made the call while delivering the 15th convocation lecture of Fountain University, themed “From Faith To Fortune” on Tuesday.

He charged the Nigeria Supreme Council for Islamic Affairs (NSCIA), the Muslim Ummah of South-West Nigeria (MUSWEN), and other recognised bodies of authority across the country to evolve in response to Nigeria’s economic realities.

Adeduntan stressed that religious influence should be strategically deployed to stimulate entrepreneurship, capital formation and sustainable wealth creation within the Ummah.

He said, “To our esteemed Islamic leadership – the Nigeria Supreme Council for Islamic Affairs (NSCIA), The Muslim Ummah of South-West Nigeria (MUSWEN), and all bodies of authority: You hold a sacred trust. The community looks to you. Your role must now evolve decisively.

“You must move from being custodians of mosques to architects of economies. Use pulpits to celebrate the ethical entrepreneur as a community hero.

“Do not just organize conferences; organize capital calls. Launch the “Ummah Strategic Investment Fund” with transparency and professional management. Create a permanent Council of Economic Ijtihad, where our finest Ulama sit with top economists, tech founders, and industrialists to solve modern problems.

“Publish and champion a “Muslim Economic Renaissance Plan for Nigeria,” with clear 10-year targets for ownership in the critical sectors of the economy – banking, tech, and industry. Your mandate is no longer just to safeguard our Aqidah (creed), but to empower our Iqtisad (economy).”

Earlier, the Vice Chancellor of the University, Professor Ramota Karim, has reaffirmed the institution’s commitment to advancing knowledge, nurturing sound character and serving humanity with distinction.

She said, “Fountain University remains committed to advancing knowledge, nurturing character, and serving humanity with distinction. Guided by faith and strengthened by partnership and innovation, we will continue to uphold our ideals while responding boldly to global demands. I therefore invite all stakeholders to remain united with us in building an institution that produces ethical leaders and globally competitive graduates.”