alt bank launches six community banking centres in Lagos’ Agege
Initiative targets improved financial inclusion, local employment and easier access to banking services across the local government
LAGOS — alt bank has launched six community-based banking centres, known as AltBoxes, in Agege Local Government Area of Lagos State as part of efforts to deepen financial inclusion and bring banking services closer to residents.
The initiative, launched on Wednesday, November 4, 2026, was undertaken in collaboration with the Agege Local Government, led by its Executive Chairman, Hon. Abdul-Ganiyu Vinod Obasa.
The AltBoxes are designed to provide accessible banking services to traders, small business owners and other residents through dedicated community-based locations.
The initiative is also expected to create employment opportunities within host communities and encourage greater participation in the formal financial system.
The Agege rollout forms part of a broader plan to establish an AltBox in each of the local government’s seven wards, extending the bank’s community banking footprint across the area.
Speaking on the initiative, Mohammed Yunusa, Divisional Head, Digital Banking and Commerce at alt bank, said financial inclusion required banking institutions to develop solutions that responded to the needs of local communities.
“Financial inclusion must respond to the real needs of communities. Through these AltBoxes, we are bringing banking closer to residents, making access more convenient and supporting greater participation in the formal financial system,” he said.
The partnership highlights the role of collaboration between financial institutions and local authorities in expanding access to financial services through community-driven interventions.
alt bank said it remained open to working with other state and local governments interested in adopting similar models to improve banking access and expand economic opportunities.
The bank commenced operations in January 2014 as a non-interest banking window within Sterling and received a standalone banking licence from the Central Bank of Nigeria in July 2023.
It operates in accordance with non-interest banking principles under the guidance of its Advisory Committee of Experts.
