Wahed Wahed Invest Nigeria

Islamic Investing in Oyo

The Nigerian arm of the global halal robo-adviser. Wahed Ltd is registered with Nigeria's SEC as a fund/portfolio manager and appears on the SEC's fintech list as a licensed robo-adviser, making it one of the few app-based platforms with explicit local registration for Shariah-compliant investing. Users pick a risk level from very aggressive to conservative and Wahed allocates local naira model portfolios across sukuk, Ijarah and Murabaha-based income instruments and screened equities. The all-in fee for Nigeria is 1.50% per annum inclusive of VAT, charged monthly, with no charge on zero-balance accounts. Purification amounts are calculated and reported annually so clients can cleanse impermissible income.

Wahed is the plug-and-play option in Nigerian halal investing. Where Lotus and Stanbic ask you to choose funds yourself, Wahed asks five questions and builds a naira portfolio of sukuk-based income instruments and screened equities, rebalances it, and hands you a purification figure at year-end. Governance is genuinely strong: three named scholars through Shariyah Review Bureau with published annual reports beats most local fund houses' disclosure. Two caveats keep it from a blanket recommendation. The 1.50% VAT-inclusive wrap fee is more than double the Lotus ETF's cost for overlapping exposure, a material drag over a decade. And the public Nigeria site is vague on minimums and exact portfolio contents, so you only see specifics after onboarding into the app. Best for beginners buying discipline and automation; DIY investors can assemble the same exposure cheaper.