Abayomi Susan
First Trustees Limited, a subsidiary of First HoldCo Plc and a leading provider of trust services to individuals, corporates, and government institutions, partnered with The Metropolitan Law Firm and Al-Ameen Trustees to host the 8th Annual Islamic Estate Planning Clinic in Abuja. The event convened prominent Islamic legal, financial, and policy experts to advance discussions on structured wealth transfer.
Held under the theme “From Informality to Legacy: Structuring Islamic Wealth Transfer,” the forum highlighted the growing need for Nigerian families to move away from informal inheritance arrangements toward professionally structured, Sharia-compliant estate planning frameworks. The objective, speakers noted, is to facilitate seamless wealth transfer, safeguard assets, minimize family disputes, and preserve legacies for future generations.
Experts stressed the importance of adopting structured Islamic estate planning models to promote wealth preservation, reduce legal conflicts, and ensure alignment with both Shari’ah principles and Nigerian statutory law. They emphasized that transitioning from informal inheritance practices to formalized structures is not merely a financial choice but a significant act of stewardship—one that replaces uncertainty and potential discord with clarity and peace of mind.
Representing the Managing Director of First Trustees Limited, Rotimi Obende described estate planning as a sacred responsibility. He noted that estate planning extends beyond documentation to stewardship, warning that informal arrangements often leave families exposed to avoidable risks. According to him, structured and Sharia-compliant plans offer transparency, certainty, and genuine generational protection. He further underscored the critical role of regulated trustees in ensuring the proper execution of wills and trusts, thereby strengthening public confidence and accountability.
In his keynote address, Professor Isa Ali Pantami, former Minister of Communications and Digital Economy, cautioned against reliance on verbal inheritance declarations, which frequently result in disputes and asset mismanagement. He advocated for the adoption of modern technologies, including blockchain, to securely store and facilitate access to wills and estate documents, effectively bridging traditional Islamic principles with emerging digital innovations.
Ummahani Amin, Managing Partner at The Metropolitan Law Firm, explained that Islamic inheritance law provides both structure and flexibility, noting that individuals are permitted to allocate up to one-third of their estate through properly documented wills and trusts. She observed that many families encounter unnecessary hardship simply because intentions were never formally recorded.
Throughout the discussions, a common message emerged: in an era characterized by increasingly complex asset portfolios—ranging from digital assets and cross-border investments to intricate business interests—informal inheritance practices are no longer adequate.
Participants concluded that structured Islamic estate planning offers clear benefits, including legal certainty, tax efficiency, stronger family cohesion, and sustainable long-term wealth preservation.
