By Kafayat Oyewole- Oyelere
In a strategic move to expand its media influence, NASFAT, a leading Islamic organization in Nigeria, has opened an opportunity for a private placement offer to raise the sum of 300 million naira to expand its Lasiilkiin Communications, a subsidiary of NASFAT.
The investment initiative, spearheaded by the Board of Directors under the leadership of Alhaji Isiaq Ajibola was unveiled when the company hosted potential investors to an iftar (pre-dawn meal) in Ikeja, Lagos, on Sunday. The aim, according to the board, was to strengthen the organization’s media presence and transition Lasiilkiin Communications into a terrestrial radio station, Kiin Radio 97.5 FM, to be based in Aseese, a border town between Lagos and Ogun State.
According to the board, the private placement opens on March 2 and closes on April 15, 2025.
Established in May 2018, Lasiilkiin Communications has been a significant voice for the Muslim community, committed to projecting Islam in its true form using varied programmes on its online radio medium.
Speaking at the event, NASFAT President, Alhaji Ayodeji AbdulRauf praised the Board of Directors for their dedication to ensuring the organization’s continuous growth despite various challenges.
The Chairman of the Board appreciated the attendees for their presence and emphasized the need to transform Lasiilkiin Communications from an online radio platform into a full-fledged terrestrial station and, at the same time, deepen its digital presence for the benefit of everyone. He highlighted the credibility of the board members of the company, stating that their accomplishments and reputations have helped position the company for growth. He encouraged investors to seize the opportunity to own equity in the company as it embarks on its transformational journey.
In a detailed business presentation, Dr Akeem Oyewale, CEO of Marble Advisory Ltd, outlined the investment potential of the Lasiilkiin Communication Offer. He presented an in-depth SWOT analysis and emphasized the multiple financial rewards awaiting investors.
The son of former Governor of Osun State Rauf Aregbesola, Alh Kabiru Aregbesola, commended the initiatives, including the NASFAT National Executive Council (NEC), Mission Board and Board of Trustees (BOT), for their efforts in fostering economic empowerment within the organization. He committed to investing in the company immediately.
The Iftar event served as a platform for engagement between potential investors and key stakeholders, reinforcing NASFAT’s commitment to sustainable business ventures that align with its mission and values.
In attendance were the NASFAT Chief Missioner, Imam AbdulAzeez Onike; The Secretary, BoT, NASFAT, Oloye Remi Babalola. NASFAT VP 1, Engr. Kamar Olawuyi; NASFAT VP 2, Alhaji Maruf Ajiroba; among other personalities.
