Nigeria’s newest non-interest financial institution, Summit Bank Limited, has officially commenced operations, pledging to deliver ethical, transparent, and inclusive banking services to Nigerians both at home and abroad.
At a press briefing in Abuja, the Managing Director and Chief Executive Officer, Dr. Sirajo Salisu, confirmed the development, stating that the bank is “live, well-regulated, fully operational, and ready to serve Nigerians with clarity, integrity, and purpose.”
According to the Central Bank of Nigeria (CBN), Summit Bank was licensed as a regional non-interest bank headquartered in Abuja.
Addressing speculations linking the bank to a tier-one financial institution, Dr. Salisu clarified that Summit Bank operates independently and has gone beyond the stage of speculation. He added that the curiosity and public interest in the bank show that Nigerians care about ethical finance.
Also speaking, the Executive Director and Chief Operating Officer, Dr. Mukhtar Adam, noted that Summit Bank’s leadership team comprises experienced executives from top Nigerian banks and digital innovators.
“While some of our directors have built accomplished careers in frontline institutions such as Zenith Bank, Summit Bank remains a fully independent entity governed by a professional board and compliant with CBN regulations,” Adam stated.
He explained that the bank’s mission is “to be a trusted partner providing ethical banking solutions that empower individuals and communities while making a positive impact in society.”
Summit Bank’s product portfolio includes Savings Account, Current Account, Mudarabah Term Deposit, and Domiciliary Account for personal banking. It also offers Corporate Current Account, Cost-Plus Products, Sukuk Investments, and Structured Investment Vehicles for SMEs and corporate clients.
Incorporated in July 2024 and licensed by the CBN in February 2025, Summit Bank said it will combine institutional banking experience with modern digital systems to make non-interest banking accessible to everyone.
