Category: Products

The Equity Protocol: From Renting Debt to Buying Bricks

Let’s talk about the ultimate Nigerian dream: Owning a home in a prime location, say, Lekki or Ikeja GRA. You’ve saved up 20% of the asking price, but you need the remaining 80% to secure the keys. How you secure that 80% will determine whether you are truly building wealth, or simply renting debt for […]

How to Stop Lifestyle Inflation: 5 Habits to Avoid After a Salary Increase

The email you’ve been looking forward to all year finally drops. Your heart does a little jump. You read the words: “Congratulations,” “promotion,” “salary adjustment.” You’ve done it. You got the raise. That first salary alert hits, and you feel it; that beautiful, extra cushion; you’re “richer-ish.” You can finally breathe. You can finally get […]

The Beginner’s Guide to Investing in Gold: How to Build Wealth Safely

If you’re a millennial, then you probably grew up seeing wealthy people in society get decked up in gold as a sign or show of wealth. The same is still true today, the designs of the gold jewellery have just evolved from what they looked like years ago. Gold has always been a symbol of […]

Financial Independence in Your 20s and 30s: Tips That Actually Work

Let’s be real. Who hasn’t dreamt of the “soft life”? That moment you check your bank account and feel peace, not panic. The freedom to pursue a passion, handle an emergency without breaking a sweat, or just live without the constant anxiety of a dwindling balance. For many of us in our 20s and 30s, […]

7 Must-Use Features on the Alt Bank App for Smarter Banking in Nigeria

You know how we all download and set up our bank apps once we open a bank account, and so begins the funds transfers, airtime buying, and even bill payments, and it looks like that’s all the bank app has to offer, well that’s not the case with us at the Alternative bank. Banking today […]

Non-Interest Banking in Nigeria: What You Need to Know About Ethical Banking

Ethical banking, non-interest banking; these are terms you’ve probably heard at one point in your banking journey, but what do these terms really mean in general, and what does it mean for you to bank with a non-interest or ethical bank? In a rapidly evolving financial landscape, non-interest banking is emerging as a transformative force […]

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Copyright © 2026, The Alternative Bank.

Licensed by the Central Bank of Nigeria 

The Alternative Bank is an independent financial organization in the Non-interest Banking (NIB) sector. If you receive services from, or if you have any other questions, please reach out to us via any of our contact channels. Registered address: 20 Marina, Lagos. Financial operations on the Alternative Bank is authorised and regulated by the Central Bank of Nigeria. License to commence operations was granted in 2014. Trading and investment products provided by  the Alternative Bank is wholly owned.

We are dedicated to ensuring adherence to Non-Interest Banking principles through the appointment of an Advisory Committee of Experts (ACE). The ACE is tasked with the review and approval of all our products and processes after ensuring full compliance with NIB principles.

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Abubakar Muhammad Musa

Summary

Abubakar Muhammad Musa is currently a Sharia Advisor and Consultant for SHAPE Knowledge Services a consulting firm based in Kuwait. He has been involved in product development, Sharia research and approval of Islamic banking products for different clients. His work covers retail banking, corporate banking and project finance deals.

Formerly, Abubakar worked as a Researcher in different units at International Shariah Research Academy for Islamic Finance (ISRA) in Kuala Lumpur, Malaysia. Besides his primary assignments in ISRA, he taught Shariah Rules in Financial Transactions to Chartered Islamic Finance Professional (CIFP) Masters online Students of International Centre for Education in Islamic Finance (INCEIF), Malaysia. He also taught MBA and BBA Students different Islamic Banking and Finance Subjects at University College of Bahrain.

Abubakar holds two Diplomas with distinction, one in Islamic Law and the other in Arabic Language from Al-Imam University Riyadh. He also holds LLB (Hons) degree in Shariah from the same University. He successfully completed his (CIFP) Professional Masters Degree Programme at (INCEIF), Malaysia. He had his internship program on Islamic Banking & Finance at Fajr Capital in Kuala Lumpur. During the programme, Abubakar conducted research relating to product structuring and market development.

Abdurraheem Ahmad Sayi

Summary

Abdurraheem Ahmad Sayi is a legal practitioner and Consultant of over 16 years of active legal practice. He is currently the principal partner, A.A. Sayi & Co. (Qist Chambers) and Qadi, Independent Shari’ah Panel of Lagos State – a platform, through which he has delivered several judgments of in-depth analysis, widely applauded by leading legal and intellectual icons, including learned Judges, professors of law and Islamic Studies.

He is the Executive Director/C.E.O., ClearPath Islamic Centre (Incorporated), Lekki-Lagos and Chief Imam, SilverPoint Central Mosque, Badore, Ajah-Lagos. Fondly called Imam Sayi, Abdurraheem is the designate Chairman, Shari’ah Advisory Committee, Mutual Benefit Takaaful.

Imam Sayi has also authored a few works, some of which include: The Financial Obligations: a compendium of essays on monetary or material obligations under Islamic Law and Waqf (Charity Endowment): The Governing Principles.

He holds a Certificate on Improving Personal Effectiveness from the Lagos Business School (Pan African University) and he is a recipient of numerous awards and certificates of merits.

Abdulkader Thomas

Education:

Master of Arts Law and Diplomacy, The Fletcher School of Law & Diplomacy.

Bachelor of Arts Arabic & Islamic Studies, The University of Chicago.

Shariah Board Experience:

Bank Muscat Meethaq (2013 – 2017)

Sterling Bank Nigeria (Since 2013)

University Bank, USA (Since 2006)

Summary

Abdulkader Thomas has over 35 years of diversified financial services experience in major markets. With a Master of Arts Law and Diplomacy from The Fletcher School of Law & Diplomacy and a BA in Arabic & Islamic Studies from The University of Chicago. His areas of activity have included trade finance, real estate finance, securities and alternative finance.

As the general manager of a foreign bank branch in New York, he secured the first US regulatory approvals of Islamic mortgage and instalment credit/sale as banking instruments. Later, he secured US regulatory approval for profit sharing deposits. Abdulkader has been involved in the successful implementation of these products in the US market. With more than 17years Shariah Board Experience in Bank Muscat Meethaq, Sterling Bank Nigeria and University Bank USA, Abdulkader has worked on IFTA projects in Europe, Africa, Southeast Asia, and an authority on Islamic deal structures and securities.

He also serves as a director of Alkhabeer Capital in Jeddah and Chairman of Alkhabeer (DIFC). He is a member of the international advisory board of the Securities Commission of Malaysia, a published author, and an active speaker on Islamic finance.