AhlulBayt News Agency (ABNA): A group of Nigerian lawyers, financial experts, and Islamic scholars have cautioned against the continued practice of informal and undocumented asset transfers, stressing that such approaches expose families to disputes, loss of wealth, and prolonged legal battles.
The warning was issued during the eighth Annual Islamic Estate Planning Clinic in Abuja, held under the theme, “From Informality to Sustainable Legacy: Structuring Islamic Wealth Transfer.” The event was organized by the Metropolitan Law Firm in collaboration with First Trustees Limited and Al-Ameen Trustees Limited.
Speakers at the forum said the growing reliance on verbal agreements and informal family arrangements often fails to reflect the true intentions of asset owners and creates fertile ground for conflict among heirs.
Hajiya Emahni Amin, managing partner at the Metropolitan Law Firm, said many Nigerian families lack structured estate plans, a situation that leads to asset mismanagement and outcomes that contradict the principles of Islamic inheritance. She noted that estate planning enables individuals to organize their affairs before death and ensures that their wills are implemented within established legal and Shariah frameworks.
Also addressing the event, Professor Isa Pantami, co-chair of the African Union’s Fourth Industrial Revolution Policy Council, criticized verbal arrangements and called for a transition to documented, Shariah-compliant systems. He proposed the use of modern technologies, including blockchain-based platforms, for the registration and preservation of wills.
Hajiya Aisha Babangida, head of the Better Life for Rural Women in Africa program, emphasized the importance of public education on Islamic financial instruments such as waqf, trusts, and sukuk, describing them as essential tools for social development.
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