* Debuts as Nigeria’s pioneer non-interest digital banking app
Ethica has commenced its operations, marking a historic milestone as Nigeria’s first fully non-interest digital banking app designed to provide a seamless, secure, and ethical banking experience.
The Nigeria’s pioneer non-interest digital bank is rewarding its customers with 20 free transfers, discounts on airtime and data top-ups, referral bonuses, and competitive returns on savings, while allowing them to pay less for bills and cable subscriptions.
Ethica is powered by Ethica Microfinance Bank, which is licensed by the Central Bank of Nigeria (CBN) and insured by the Nigeria Deposit Insurance Corporation (NDIC).
While announcing the official commencement of its operations, Ethica emphasised that its activities are anchored on six guiding values represented in the name Ethica: Excellence, Transparency, Halal, Innovation, Customer-centricity, and Accountability.
With the Ethica App, users can instantly open accounts, make seamless transfers and payments, purchase airtime and data, pay bills, and experience ethical, secure, and transparent non-interest banking.
To mark its landmark entry into the market, Ethica initially rewarded its first 2,000 waitlist customers who onboarded and funded their accounts with ₦500 airtime on Wednesday, March 25, 2026.
A video post announcing the official launch on Monday, May 11, 2026, stated that Ethica MFB spent two years building the non-interest banking application.
“Ethica is live. For the past 24 months, we have been building Nigeria’s pioneer non-interest digital bank. Over 20,000 customers waited. The future of non-interest digital banking has started. The wait is over; experience something truly special, built just for you,” the post stated.
Speaking at the 2026 Industry Awards, where Ethica emerged as the Fastest Growing Non-Interest Digital Bank, the company’s Head of Marketing, Communications, and Partnerships, Sodiq Oyeleke, said, “Ethica’s mission is to empower Nigerians with innovative digital tools that respect their values. By leveraging technology, we are providing seamless, secure, transparent, and flexible financial solutions that relieve them from the burden of interest.
“Our model proves that you do not have to compromise on modern speed or technological excellence to remain true to your ethical convictions. At Ethica, we believe transparency is a right, not a luxury, and our goal is to ensure that every Nigerian, especially women and youth, can access a financial system that prioritises their progress over their debt.
“We have designed this for every Nigerian seeking an equitable path to wealth creation, non-interest digital banking, seamless transactions, transparency, fund security and financial growth. You can get more information about Ethica HERE.
The bank’s product suite includes specialised non-interest instruments such as Mudarabah (profit-sharing), Wadiah (safekeeping), and Salam (forward-purchase financing) among others, ensuring a comprehensive and Shariah-compliant financial ecosystem for all.
The Ethica App is now available for download on Android and iOS devices. To download HERE
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