alt bank Opens Six Community Banking Centres in Agege, Targets Seven Wards

The initiative, launched in partnership with Agege Local Government, seeks to bring banking services closer to residents, traders and small businesses.

alt bank has inaugurated six community-based banking centres, known as AltBoxes, across Agege Local Government Area of Lagos State, as part of efforts to expand financial inclusion and extend banking services to underserved communities.

The initiative, launched on Wednesday, November 4, 2026, in partnership with Agege Local Government, is aimed at bringing essential banking services closer to residents, traders, individuals and small business owners.

The bank said the six facilities represent a major step towards its broader plan to establish an AltBox in each of the seven wards in the local government area, further strengthening its community-based banking network.

The inauguration ceremony attracted representatives of alt bank and the local government, community stakeholders and residents.

Speaking on behalf of the bank, Abimbola Ojo, Group Head, Institutional Banking Core North, said the initiative reflected the bank’s commitment to making financial services more accessible while supporting economic activities at the grassroots.

Ojo explained that banking should go beyond providing conventional financial services to creating opportunities for individuals and businesses to grow and contribute meaningfully to the economy.

“At alt bank, we see banking as more than the provision of financial services. It is about enabling people and businesses to realise their potential, participate more fully in the economy and build lasting prosperity.

“This requires us to develop solutions that are built around how people live, work and do business. Our approach is anchored in a simple belief: wealth creation should be ethical, meaningful, inclusive and within reach of more people,” she said.

The AltBox initiative is designed to provide dedicated community locations where residents and business owners can access banking services without having to travel long distances to conventional banking branches.

Beyond improving convenience, the facilities are expected to support small-scale businesses, encourage greater participation in the formal financial system and create employment opportunities within host communities.

The partnership with Agege Local Government also highlights the importance of collaboration between financial institutions and public authorities in addressing barriers to financial access, particularly among people operating in informal and underserved economic sectors.

For alt bank, the expansion in Agege forms part of a wider strategy to take banking services directly into communities and develop practical solutions that respond to the everyday financial needs of Nigerians.

With six AltBoxes already launched in Agege, the bank is working towards covering all seven wards, a move expected to extend its reach to more households, traders and businesses across the local government.

The bank also indicated its readiness to engage other local and state governments interested in adopting similar community-based banking initiatives.

As the network expands, alt bank said it would continue to pursue programmes that connect more individuals and businesses to the formal financial system, in line with its broader purpose of Creating Wealth.

The bank commenced operations in January 2014 as a non-interest banking window within Sterling Bank before receiving a standalone banking licence from the Central Bank of Nigeria in July 2023.

Operating under the guidance of its Advisory Committee of Experts, the bank provides financial services in accordance with the principles and ethics of non-interest banking.