We designed AltElite for individuals who expect more from their investments, not just growth, but access, liquidity, and privileged experiences.
With AltElite, your gold investment becomes a gateway to premium financial benefits, exclusive access, and interest-free liquidity when you need it.
At the core of AltElite is a simple proposition:
‘’Invest a minimum of 50 grams in gold and unlock a suite of financial and lifestyle privileges built around you.’’
Gain access to up to 120% of your gold investment as interest-free credit, giving you liquidity without selling your assets.
Enjoy both a Gold-Plated Naira Debit Card and a USD Black Elite Card, each offering higher spending limits, international acceptance, and priority services.
Because smart investors know that the real value of wealth is not just in holding assets but in how those assets work for you.
Step 1: Complete your AltElite Subscription Form — this registers your interest and gives us the information we need to set you up.
Step 2: Invest a minimum of 50 grams of gold — our team will guide you through the purchase process.
Step 3: Receive your AltElite premium debit cards — activate them on the AltBank app or at any of our branches.
Step 4: Enjoy the full suite of benefits — including access to interest-free credit, global privileges, premium lifestyle perks, and more.
Complete Your Subscription
AltElite is a premium offering — a gold-backed credit-based financial solution tailored for customers who seek prestige, convenience, and absolute control over their finances.
Minimum subscription is 50 grams of gold.
The Premium Gold Card is a debit card linked to your bank account. AltElite, however, gives access to premium benefits plus a credit line backed by your gold investment.
A mandatory purchase of at least one gold coin (50 grams) qualifies a customer for AltElite.
There is no mark-up — it is interest free.
You can liquidate your investment anytime and receive the gold coin or its cash equivalent credited to your account.
Yes, the AltElite Card attracts a fee of ₦100,000 for the first year.
The facility runs for 12 months with a 90-day rollover. At the 90th day, repayment is due, and the facility can be rebooked. After 12 months, the customer’s position is reviewed, and a new credit line may be approved.
Yes — 120% of the gold coin’s value, currently capped at the equivalent of 100 grams of gold + 20% of value.
Yes — with the customer’s instruction.
Because gold offers:
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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: 239 Ikorodu Road, 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 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 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.
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)
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.
