ABUJA — Alternative Bank has opened a new branch in Gwarinpa, expanding its Abuja footprint as it pushes banking and financing services closer to one of the capital’s largest residential communities.
The bank formally launched the branch on last week before traditional rulers, government representatives, institutional partners and members of the Gwarinpa community.
The opening brought together conversations around financial inclusion, agriculture, renewable energy, youth enterprise, Hajj savings and rural banking access.
Garba Mohammed, Alternative Bank’s Executive Director, North-Central, South-East and South-South, said Gwarinpa’s population and economic activity made the district an important location for the bank.
He said Alternative Bank wants its expansion to move capital closer to people and businesses that may struggle to access conventional financing.
“That is why we have this model of banking that requires us to look around, share and spread capital all around by way of partnership and financial inclusion,” Mohammed said.
He also linked wider economic access to the fight against poverty.
“Violence and poverty — poverty is the root cause of violence. When people are hungry, they become angry,” Mohammed said.
Beyond everyday banking, the new branch will connect customers with products including Alt Power, Alternative Bank’s renewable energy financing offering.
Mohammed said the bank finances renewable energy installations for homes and allows customers to repay the cost over an agreed period.
Agriculture also featured prominently at the launch.
NIRSAL Plc Executive Director, Technical, Simisola Ojumu, said NIRSAL’s partnership with Alternative Bank aims to deepen financing for farmers, processors and agribusinesses.
Ojumu also cited Alternative Bank’s expansion from more than 130 locations towards a target of 500. [COMPLIANCE FLAG: claim requires confirmation before publication.]
NAHCON Executive Chairman Ambassador Ismail Abba Yusuf said the Gwarinpa branch would give prospective pilgrims easier access to services linked to the Hajj savings scheme.
The Emir of Nasarawa, HRH Ibrahim Usman Jibril, welcomed the expansion but challenged the bank to take future services into semi-urban and rural communities.
He said many Nigerians still live far from formal banking services and often carry substantial amounts of cash to local markets.
The Hakimi of Gwarinpa District, Prince Umar Bayero, said residents also need financing for farming, youth enterprise and small businesses.
The Federal Ministry of Environment used the launch to call for greater bank financing of renewable energy, waste management, climate-smart businesses and other green projects.
Together, the interventions turned the Gwarinpa opening into more than a branch ceremony. They set a clear test for the new location: bring usable financing closer to households, businesses and sectors that need it.
About Alternative Bank: Alternative Bank operates a partnership-based, non-interest banking model. The bank serves individuals and businesses through banking services and financing across sectors including agriculture and renewable energy. More information is available at altbank.ng.
