The Chairman of Crescent Multipurpose Cooperative Society, Engr. Waheed Kolawole, has urged Muslim clerics to play a more active role in driving economic empowerment through investment forums and cooperative initiatives.
Kolawole made the call during the association’s 14th Annual General Meeting and 15th anniversary.
He stressed the need to tackle low financial inclusion among many Muslim communities in Nigeria.
He noted that mosques and other religious platforms can serve as hubs for organising investment forums and educating members on viable business opportunities.
He said, “If every mosque organises investment forums and introduces members to economic opportunities, more people will be integrated into the formal financial system.”
Kolawole explained that economic hardship often triggers social and spiritual challenges, making financially vulnerable individuals more susceptible to societal pressures.
He urged clerics to complement their spiritual duties with economic guidance by promoting cooperative societies, structured investments, and a culture of savings among their followers.
The cooperative chairman identified limited advocacy by religious leaders on economic participation as a major gap, particularly in encouraging engagement with formal financial systems.
He added that leadership by example—through transparency, discipline, and accountability—would build trust and boost participation in economic activities.
Kolawole added that improving financial inclusion would not only enhance livelihoods but also help reduce poverty, insecurity, and social instability.