Amaanah Non-Interest Finance Company Limited has appointed renowned capital market Professor, Uche Uwaleke, to its Board of Directors, in a move aimed at strengthening its governance structure and strategic direction.
The appointment, which takes effect from June 1, 2026, is subject to regulatory approval, according to a formal letter issued by the company.
Uwaleke according to a letter signed by the Chairman of the Company, Dr. Akeem Oyewale, will serve as a Non-Executive Director, bringing his extensive experience in financial markets, policy analysis, and economic research to the boardroom.
The company said the decision reflects its confidence in Uwaleke’s integrity, professional competence, and capacity to contribute meaningfully to its long-term growth ambitions.
As a Non-Executive Director, he is expected to provide independent judgment on corporate affairs and support the board in delivering sound oversight and strategic guidance.
In his role, Uwaleke will also participate in board and committee meetings, contribute to policy formulation, and help ensure compliance with regulatory requirements and corporate governance standards.
He is also expected to provide strategic direction on risk management frameworks, support the evaluation of investment and financing decisions, and contribute to strengthening the company’s non-interest finance operations.
In addition, he is expected to play a key advisory role in shaping Amaanah’s expansion strategy, particularly as the firm seeks to deepen financial inclusion through Shariah-compliant products.
He will also support the board in monitoring performance outcomes, assessing operational efficiency, and ensuring alignment with long-term sustainability goals.
Amaanah noted that his appointment comes at a critical time as the firm positions itself to expand operations following its licensing by the Central Bank of Nigeria to operate as a non-interest finance provider.
The company is among the emerging players in Nigeria’s non-interest finance segment, offering Shariah-compliant financial products designed to promote financial inclusion and support underserved communities.
Its product offerings are expected to include instruments such as Murabaha, Ijarah, Musharakah, and Mudarabah, which are structured around profit-and-loss sharing rather than interest-based returns.
Industry analysts say the addition of Uwaleke to the board could enhance Amaanah’s strategic positioning, particularly as competition intensifies in the alternative finance space.
His background in macroeconomic analysis and financial systems is expected to provide valuable insights as the company scales its operations.
With its headquarters in Lagos and a corporate presence in Abuja, Amaanah is gearing up to roll out services nationwide, targeting individuals, small businesses, and entrepreneurs seeking ethical and transparent financing options.
The firm said it remains committed to building a resilient institution anchored on strong governance, innovation, and inclusive growth, with Uwaleke’s appointment marking a significant step in that direction.
Recall that Uwaleke was few weeks ago appointed a member of the Economics and Statistics Committee of the Lagos Chamber of Commerce and Industry (LCCI).
His appointment was approved at the Council meeting of the Chamber held on February 4, 2026, following the recommendation of the President and Chairman of Council, Engr. Leye Kupoluyi.
Uwaleke, a former Commissioner for Finance in Imo State was also former Chief Economist and Director of Research at the Securities and Exchange Commission Nigeria.
He is currently the Director of the Nasarawa State University Institute of Capital Market Studies and President of the Capital Market Academics of Nigeria.
As Director of the Institute of Capital Market Studies at Nasarawa State University, he has contributed significantly to research, policy discourse, and capacity building within Nigeria’s financial sector.
Uwaleke is also a member of the Daily Trust Board of Economists, further underscoring his growing influence in Nigeria’s economic policy space.
He is a Fellow of the Chartered Institute of Stockbrokers; Fellow, Institute of Chartered Accountants of Nigeria; Fellow Chartered Institute of Bankers of Nigeria; Fellow Chartered Institute of Taxation of Nigeria; Fellow Institute of Capital Market Registrars; Fellow Capital Market Academics of Nigeria, and a Council member Nigerian Economic Society
Uwaleke is the author of the first Non Interest Capital Market book in Nigeria titled ‘Essentials of Non-Interest Capital Market in Nigeria’- a publication sponsored by the Group Chairman of the Nigerian Exchange Group, Dr Umaru Kwairanga.
It would be recalled that a former Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed had in 2022 during the launch of Uwaleke’s books, described him as a major contributor to the development of the economy through his insightful analysis of finance and economic issues.
ENDS
