LAGOS, Nigeria, June 12, 2026/APO Group/ –Arridex (www.Arridex.com), formerly RusselSmith, recently announced its formal change of name, registered with the Corporate Affairs Commission of Nigeria. The change reflects the significant expansion of the organisation’s capabilities and the breadth of industries it now serves, which extend well beyond the oil and gas services with which it began operations in the early 2000s.

 

Founded as an asset integrity company serving Nigeria’s oil and gas sector, the organisation has grown into a multi-sector industrial technology group operating across oil and gas, maritime, aerospace, defence, construction, and manufacturing. Its subsidiaries cover engineering and construction delivery, autonomous systems development, and advanced technology products, in addition to its industrial additive manufacturing and asset integrity operations.

The organisation holds Pioneer Status in additive manufacturing, granted by the Nigerian Investment Promotion Commission (NIPC), and is the first company qualified by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for additive manufacturing deployment in the oil and gas sector. Both represent formal recognition of Arridex’s capabilities and its role in building indigenous industrial capacity at scale. With more than twenty years of continuous delivery, Arridex holds certification to ISO 9001:2015 and ISO 45001:2018, underpinning an integrated management system that governs its operations across all sectors, and has recorded zero lost time incidents across over seven million man hours of operations.

The name change coincides with a significant operational milestone. The Arridex Omnifactory, West Africa’s first multi-technology industrial additive manufacturing facility, has been commissioned in Lagos. The Omnifactory integrates multiple additive manufacturing technologies including Laser Powder Bed Fusion (L-PBF), Cold Spray, Fused Filament Fabrication (FFF), and Selective Laser Sintering (SLS) under one roof, enabling on-demand production of industrial components, spares, and improved part designs for critical industries. The Omnifactory’s large-format additive manufacturing capabilities also enable the production of large-scale structures, including full-size marine components. Its commissioning is the clearest measure of the distance that Arridex has travelled from its origins.

Africa’s critical industries have for decades depended on components and specialist expertise imported from outside the continent, with supply chains that routinely extend across multiple jurisdictions and lead times that affect operational continuity for asset owners when dealing with legacy parts. The Omnifactory manufactures industrial components and parts on demand in Lagos, helping to build operational resilience in critical industries.

Kayode Adeleke, Group Chief Executive Officer of Arridex, said: “The name RusselSmith defined what we were at the start. Arridex defines what we have built. The dependency of African industry on fragile supply chains is a structural problem that this continent has accepted for too long. The Omnifactory is a concrete answer to the challenge of manufacturing sovereignty. Arridex is the name of the company built over two decades and raised intentionally to enable industrial resilience in Africa.”

Arridex is a Designated Strategic Partner of the Commonwealth Enterprise and Investment Council (CWEIC) and serves clients across Nigeria and the wider African region. The organisation has a joint venture partnership with the Defence Industries Corporation of Nigeria (DICON) for military-grade additive manufacturing, is a member of the Manufacturers Association of Nigeria (MAN) and is also a member of the Defence Industries Association of Nigeria (DIAN). With the Omnifactory commissioning in June 2026, Arridex enters its next phase of operations under a name that reflects the full scope of what it has built.

The Islamic Development Bank Institute (IsDBI) (https://IsDBInstitute.org/) will host the 20th IsDB Global Forum on Islamic Finance in Baku, Azerbaijan on 17 June 2026 under the theme “Achieving Sustainable Prosperity through Islamic Finance,” in conjunction with the IsDB Group Annual Meetings.

 

Marking its 20th edition, the forum serves as a flagship platform for high-level dialogue, convening policymakers, regulators, development practitioners, academics, and industry leaders to advance innovation and development in Islamic finance. This year’s forum will focus on strengthening regional integration and unlocking sustainable growth across IsDB member countries through Islamic finance solutions.

The forum will examine how Islamic finance can help address structural development challenges, including “development traps” that constrain inclusive growth and resilience. It will also highlight innovative Islamic social finance mechanisms, particularly Awqaf Free Zones, as tools for mobilizing sustainable resources to support food and energy security.

Key highlights of the forum include keynote speeches, launch of a new report on the prospects of Islamic Finance in Azerbaijan alongside other flagship publications, announcement of a memorandum of understanding between IsDBI and Labuan Financial Services Authority, distinguished panel discussion sessions, and unveiling of top achievers in the Applied AI in Islamic Finance Competency Challenge.

H.E. Taleh Kazimov, Governor of the Central Bank of the Republic of Azerbaijan, will deliver the first keynote speech, followed by Eng. Adeeb Yousuf Al Aama, Chief Executive Officer of ITFC, whose speech will be on behalf of the IsDB Group. Dr. Sami Al-Suwailem, Acting Director General of IsDBI, will deliver the welcome remarks.

The first panel session will explore how Islamic finance can help countries overcome development barriers and achieve sustainable economic transformation. The panelists include Mr. Shahin Aydin Mahmudzade, Executive Director, Central Bank of Azerbaijan; Mr. Adnan Zaylani, Deputy Governor, Bank Negara Malaysia; Ms. Mihoko Kumamoto, Director, Division for Prosperity, UNITAR; Dr. Bambang Brodjonegoro, Dean, Asian Development Bank Institute; and Dr. Areef Suleman, Chief Economist, IsDB Group. The session will be moderated by Mr. Mustafa Adil, Head of Islamic Finance, London Stock Exchange Group.

The second panel session will examine innovative approaches to mobilizing Islamic social finance, particularly through Awqaf Free Zones, to address global food and energy challenges. The speakers include Mr. Valeh Alasgarov, Chairman of the Board, AFEZ Authority, Azerbaijan; Dr. Mansur Muhtar, Chairman of the Board, Bank of Industry, Nigeria; Professor Emeritus Dato’ Dr. Azmi Omar, President & CEO, INCEIF University; and Mr. Orkhan Vidadi oglu Mammadov, Chairman, Small and Medium Business Development Agency of Azerbaijan (KOBİA). The session will be moderated by Mr. Yahya Rehman, Associate Manager, IsDBI.

The forum is expected to generate actionable recommendations, strengthen partnerships, promote stakeholder collaboration, and advance innovative, AI-enabled tools to support the growth of Islamic finance globally.

More information about the forum is available on IsDBI website here.