By Gloria Ikibah
The Alternative Bank Limited (Alt Bank), a subsidiary of Sterling Financial Holdings Company Plc, has appointed Gul Khan as its new Managing Director and Chief Executive Officer, following approval by the Central Bank of Nigeria (CBN). 
Khan succeeds Hassan Yusuf, the bank’s founding Managing Director.
The appointment, announced in a statement on November 10, 2026, brings to the helm an international banking executive with more than 25 years of experience across Europe, America, Asia, the Middle East and Africa.
Before his appointment, Khan served as Chief Executive Officer and Board Director of I&M Bank Kenya. He also previously held the position of Group Head of Products at Airtel Money, overseeing the fintech business across 14 African markets.
His career includes serving as Global Head of Retail Banking and Wealth Management at HSBC Amanah, the group’s non-interest banking business, as well as executive leadership positions in financial institutions in the United Arab Emirates, Egypt and Qatar.
Commenting on the appointment, the Chairman of Alternative Bank, Muhtar Bakare, said Khan’s experience in non-interest banking and leadership across African financial services made him well suited to lead the institution into its next phase of growth.
“Gul’s expertise in non-interest banking and his leadership experience across African financial services position him well to lead Alternative Bank through its next phase of growth.
“The Board is confident in his ability to build on the Bank’s foundations and broaden its reach, while maintaining the strong governance and commercial discipline essential to long-term success,” Bakare said.
Khan is expected to work with the board and management team to expand the bank’s operations, strengthen its market position and deepen access to non-interest financial services.
Outlining his priorities, the new chief executive said his ambition was to position the bank as a preferred financial services provider for individuals and businesses across Nigeria.
“The opportunity is to make Alt Bank the preferred choice for consumers and businesses in Nigeria. That means understanding what customers need, whether acquiring productive assets or growing their businesses, and providing solutions that are relevant and they can use with ease.
“I look forward to working with colleagues to build on Alt Bank’s progress and earn our customers’ continued trust,” Khan said.
The bank also highlighted its recent progress in meeting regulatory requirements and strengthening its operational capacity.
According to the statement, Alt Bank met the CBN’s revised minimum capital requirement for national non-interest banks well ahead of the regulatory deadline.
It has also completed its migration to MIZAN, a core banking platform specifically designed for non-interest financial institutions.
The bank said its strengthened capital base and investment in technology would support its capacity to finance business expansion and develop financial products tailored to customers’ needs.
Alternative Bank operates as part of Sterling Financial Holdings Company Plc, a diversified Nigerian financial services group. It provides non-interest financial solutions to individuals and businesses across the country.
