We are investing in high-level security measures to reduce the rate of fraudulent activities and ensure that your details and transaction are safe at all times.


Regardless of all the security measures put in place to reduce the rate of fraudulent activities in the bank, the big news is that there is only one person in the world with the Superpowers needed to stop fraudsters from operating online and that person is YOU!

The world has evolved; civilization, modernization and digitization has changed how things are done in all sectors of life (agriculture, education, health etc.)

The banking sector is not left behind in this evolution as digitization has changed the banking game, making it possible for us to transact, pay for goods and services, make investments and do so many other activities online from the comfort of our homes with just our mobile devices.

However, there is a major threat to digitization… CYBERCRIME.
Cybercrime has become so rampant and fraudulent technology experts popularly known as Hackers have become a serious challenge to the new trend of Mobile Banking.

Here are 5 basic tips you must know and do to avoid being attacked by online fraudsters:

If you have The Alternative Bank account, we will never request for your Password, OTP or PIN via email, text message or phone calls. If you are yet to open an account, our agents will call you to explain our offerings. However, please do not reply to text messages and emails from unknown individuals requesting for your card details or the One Time Password (OTP) sent to your registered mobile number. Always verify the source of such requests as we will never send you a text, call or email requesting for your Password, OTP, PIN. Also note that altbank is NOT distributing covid-19 relief money to its customers.​

Never share your Bank Verification Number (BVN) and card PIN with anyone that’s not you. In the event that your ATM card gets misplaced or stolen, please contact our One Customer Centre on 01 7000 555 or send an email to [email protected] immediately to report the incidence and block your card.​

We’ve made it easy to do this by sending your account’s e-statement on a monthly basis to your e-mail and also providing a statement of account view on Altbank app. Please check your account statement regularly and report any anomaly noticed immediately to Customer Care or your relationship manager.

One good way to ensure your details are not compromised is to make sure you change your password regularly. It is also important that your password is strong enough to prevent any form of hacking. Strong passwords make it difficult for anyone to figure out your details and access the funds in your account. A strong password should contain at least six characters (a combination of uppercase and lowercase characters), numbers and symbols. The more characters, the stronger the password. Example of a strong password-Demand03@FireWire20.

When approaching an ATM, pay attention to your surroundings and make sure no one is lurking around to steal your PIN and also find out how much money is in your account. Make use of ATMs you are familiar with and observe the machines for damages before slotting your ATM card in as it could have been tampered with by fraudsters.

For more information, please contact our One Customer Centre on 01 7000555 or send an email to [email protected]. We would love to hear from you and provide required solution that will satisfy you.

This could happen when your transaction is being reviewed. Please give it a little more time. Also, look out for a call from 01-7000555 or an email alert from ********@altbank.ng​

Your security is our number one priority. If we observe any unusual activity, your transaction may be reviewed. This is to prevent impersonation and verify that you initiated the transfer.

Also, we are compelled by global regulatory compliance to gather additional information about money transfers. This might cause a slight delay in your transfer process but it’s vital in protecting you and meeting legal requirements.

Transfers may be declined if we observe unusual activity and cannot confirm the transaction was initiated by the owner of the account.
For instance, transfers could be declined when:

a. The customer is not able to pick up the confirmation call.
b. The customer picks up but is silent and refuses to say a word.

If any of these instances occur, a total restriction will be placed on the account. This restriction will only be lifted if the customer visits a branch or calls the Customer Centre

Call the Fraud Desk or One Customer Centre on any of the following numbers:


Your transfers/accounts are likely to be suspended if unusual activity is detected. When our systems pick any transaction out of the ordinary, we carry out a review in order to keep your account safe from fraud. Our policy is to make sure your money is always protected.​

One of our best tools in keeping your transactions secure is making sure everyone is accounted for, so we may reach out to collect information from you. We also want to empower you to follow transaction best practices that keep your account safe. The information you provide will help us do just that.

Once you have successfully satisfied our enquiry, it usually takes less than 5 minutes.

If we can’t confirm the transaction was initiated by you, it will be declined, and your home branch will be notified. They would then contact you by either a phone call or paying a visit to your registered address.

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Abubakar Muhammad Musa


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


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


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.