Business and Economy
Ethical Wealth Management: Alpha10 Group Unveils ₦500m Non-Interest Fund
By Iyojo Ameh
Alpha10 Group has officially launched a ₦500 million Halal Fund designed to deepen ethical investment options, boost financial inclusion, and strengthen Nigeria’s expanding non-interest finance ecosystem.
The fund was unveiled on Wednesday during a formal ceremony in Abuja.
Speaking at the launch, Alpha10 Group Managing Director, Abigail Utomi, described the Halal Fund as a strategic milestone in the company’s growth and product diversification.
”Alpha10 is committed to broadening access to wealth management solutions that reflect both market realities and investor preferences, particularly within the ethical finance space,” Utomi said.
She noted that the Securities and Exchange Commission (SEC)-licensed firm—which specializes in fund and portfolio management, securities trading, and advisory services—is actively positioning itself to convert macroeconomic constraints into viable investment solutions.
”The Halal Fund is designed to serve investors with diverse beliefs and preferences, reinforcing the firm’s commitment to inclusivity,” Utomi added, emphasizing that ethical investment is increasingly driving global financial markets.
The group plans to leverage its presence in Abuja and various states to reach investors across Nigeria’s geopolitical zones, channeling capital from surplus holders into productive, underserved sectors.
Highlighting the structural necessity of the fund, the Chairman of the Board of Directors, Chibuzo Ekwekwuo, stressed that the financial services industry must move away from serving only a narrow segment of the population.
”The financial services industry must move beyond serving only a narrow segment of the population,” Ekwekwuo stated, adding that Alpha10’s mission is to deliver financial solutions anchored on “professionalism, accountability, trust, and responsiveness to stakeholders’ needs.”
Corroborating the Chairman’s view, Mohammed Umar, an Independent Non-Executive Director at the firm, pointed out that access to formal investment products in Nigeria has historically been skewed toward middle- and upper-income participants.
Umar noted that expanding the financial ecosystem through deliberate efforts is critical to delivering long-term economic development, especially for segments of society that remain largely underserved.
The ₦500 million Halal Fund is expected to immediately begin serving investors seeking sharia-compliant and non-interest options, while contributing to the broader growth of Nigeria’s alternative investment market.