A new chapter in Nigeria’s alternative finance sector has opened with the formal launch of Amaanah Non-Interest Finance Company, a Central Bank of Nigeria (CBN)-licensed non-interest finance company focused on providing financing and investment solutions without conventional interest-based lending.

The company held its official launch on Thursday, October 1, 2026, at The Providence Hotel in Lagos. The event, themed “Financial Independence: Empowering Lives Through Ethical Finance,” brought together stakeholders from the financial services, investment, business and non-interest finance sectors.

Amaanah had previously announced that it received its operational licence from the CBN in September 2025, describing itself as the first non-interest finance company licensed by the apex bank under its current structure. The licence paved the way for the company to develop and offer Shariah-compliant financial products to Nigerians.

At the launch, Amaanah Chairman, Dr Akeem Oyewale, said the company was established to create financial solutions that connect customers’ financial goals with their values while supporting economic participation and responsible growth.

The company’s Acting Managing Director and Chief Executive Officer, Dr Adewumi Oni, also outlined an approach that goes beyond simply providing access to funds, with the business positioning its services around asset acquisition, investment, enterprise financing and wealth management.

Among Amaanah’s offerings are asset-financing products designed to help customers acquire productive assets. These include Business Asset Financing for eligible businesses, HomeFlex for household appliances and FlexiWheels for vehicle financing.

The company also provides financing and investment solutions for micro, small and medium-sized enterprises, alongside project financing, financial advisory and wealth management services. Amaanah says its broader objective is to direct capital towards real economic activities while operating according to Shariah principles.

Its investment services include structures based on Islamic finance arrangements such as Wakalah and Mudarabah. According to the company, customers' funds can be deployed into Shariah-compliant investment opportunities, with returns generated from underlying economic activities rather than conventional interest.

Amaanah is also using digital technology as part of its expansion strategy. The company already has a finance application that allows customers to create accounts, complete identity verification, manage funds and access available investment and financing services.

The company says its services are not restricted to Muslims. Although its products are structured around Shariah principles, Amaanah states that its financing and investment solutions are available to people regardless of their religious background.

Speaking at the launch, University of Abuja Chief Imam, Prof Taofeeq Azeez, emphasised the need for Nigeria to broaden the sources of capital available for infrastructure, business expansion and job creation.

He argued that the country's financing needs require a wider financial ecosystem capable of mobilising capital from multiple sources and making it more accessible to businesses and individuals.

The launch was chaired by Dr Umaru Kwairanga, Chairman of NGX Group, while Niyi Yusuf, Chairman of the Nigerian Economic Summit Group, served as co-chair. A panel session also examined ways of mobilising local capital for small and medium-sized enterprises, with participation from figures in Nigeria’s non-interest finance and insurance sectors.

With its entry into the market, Amaanah is seeking to expand the range of financial options available to Nigerians, particularly businesses and individuals who are looking for alternatives to conventional interest-based financing.

The company's stated focus is on economic inclusion, asset-backed financing and partnership-based financial models, with the broader goal of supporting individuals, MSMEs and startups while contributing to productive economic activity.