The Ansar-Ud-Deen Society of Nigeria has cemented its status as a leading faith-based institution championing education, healthcare, charitable initiatives, and sustainable community development with the launch of a N20 billion legacy fund.
Launched under its new Ansar-Ud-Deen Foundation, the fund is to serve as a perpetual endowment to finance and rehabilitate Ansar-Ud-Deen mosques and religious centres nationwide, infrastructural improvement of Ansar-Ud-Deen schools and educational institutions including Summit University, supporting social welfare, health, empowerment programmes and also serve as investment platform in halal and ethically sound ventures.
The Society also inaugurated a seven-member Board of Trustees to manage the investments and donations transparently in halal ventures to ensure long-term benefits for Muslims.
They include: Alhaji Abdulfatai Kekere-Ekun as Chairman, Alhaji Sulaimon Adedokun, Alhaja Kafilat Araoye, Yusuf Ali, Dr. Mosun Belo-Olusoga, Alhaji Abdulfatah Bank-Anthony and Alhaji Rabiu Isyaku Rabiu.
Speaking at the inauguration, National President of the society, Prince Adeniji Kazeem, said that the foundation was created to ensure sustainable funding for the organisation’s activities across the country, grounded in the noble ideals of Islam and the vision of its founding fathers.
The inauguration of the Board of Trustees, Prince Kazeem stressed, was to attract funds and ensure they are ethically and professionally managed. “Money is very volatile, so you must look for the best people to manage it,” he said, adding, “The Board of Trustees comprises men and women of high integrity and stature who were carefully selected to attract and manage funds for the benefit of the society.”
The National President said expectations for the board were high, adding that members were expected to begin work immediately by mobilising resources to advance the society’s objectives.
“N20 billion is just a target. It could be more, but the idea is to set a clear goal and grow it over time,” he said, stressing that all funds would be managed with transparency and integrity.
In his submission, the Chief Executive Officer of Trust Arthur Group, Dr. Basheer Oshodi, said that the Society is partnering with his firm to help actualise the legacy fund in Shariah-compliant (non-interest) financial services.
The proposed fund, he explained, would move beyond traditional donation models, which he described as largely ineffective, to a more structured and sustainable financing approach involving individuals, corporates, associations and foreign individuals.
According to him, the funding strategy will include targeted monthly contributions from local and corporate bodies, as well as foreign foundations and investors interested in long-term portfolio investments rather than outright grants.
“Some foreign funds are not gifts. They want to invest in a portfolio, earn returns and be repaid over a long period. That requires proper structure and professional management,” he said.
Oshodi explained that the fund’s assets would be diversified across multiple classes, including sukuk instruments issued by corporate bodies and the federal government, investments with banks and asset management companies, income-generating real estate and selected commodities for short-term, high-yield returns.
He stressed that only revenue-yielding assets would be considered, particularly in real estate, noting that, “Not just land, but income-generating commercial properties that provide consistent returns.”
While inaugurating the trustees, the Chief Missioner of Ansar-ud-Deen Society of Nigeria, Sheikh Abdulrahman Olanrewaju Ahmad, charged members to uphold integrity, ethical fundraising and sustainable endowment practices in advancing the objectives of the Ansar-Ud-Deen.
He emphasised the importance of waqf (endowment) as a sustainable funding model, citing historical examples such as Fatima al-Fihri, founder of the University of al-Qarawiyyin, and Uthman ibn Affan’s endowment of a public well in Medina, which continues to benefit communities centuries later.
“The Prophet, in one of his sayings says, when any children of Adam dies, all his accounts are closed except three among which Sadaqah Jariyah, charity is able to perpetuate itself whether or not you are there. It is a sadaqah that you will continue to benefit from for as long as it is beneficial to the people,” he stressed.
In his acceptance remarks, the Chairman of the Trustees, said the team is planning to deploy technology to support its objectives and ensure transparency in fundraising and fund management.
He also expressed his plan to operate both local and foreign bank accounts to facilitate donations and investments, while adopting modern financial system.
“My solemn promise is to operate the foundation with absolute transparency, honesty, discipline and accountability. We thank the President and other executives for finding us worthy of this assignment,” he said.
