alt bank Deepens Grassroots Banking with Six New Centres in Lagos Community

Bank partners Agege Local Government to expand financial inclusion, with plans to establish facilities across all seven wards.

alt bank has strengthened its grassroots banking strategy with the launch of six community-based banking centres in Agege Local Government Area of Lagos State, bringing financial services closer to residents, traders and small business owners.

The new facilities, known as AltBoxes, were inaugurated on Wednesday, November 4, 2026, through a partnership between the bank and Agege Local Government, as part of efforts to deepen financial inclusion and expand access to banking services at the community level.

The bank disclosed that the six AltBoxes are part of a wider expansion plan to establish a presence in each of Agege’s seven wards, ensuring that more residents and businesses can access banking services within their communities.

The inauguration ceremony brought together representatives of alt bank, officials of Agege Local Government, community leaders, stakeholders and residents.

Speaking on behalf of the bank, Abimbola Ojo, Group Head, Institutional Banking Core North, said the initiative was driven by the need to make banking more accessible while creating opportunities for individuals and businesses to participate in economic activities.

According to her, the bank’s approach recognises that financial institutions must develop solutions around the everyday realities of the people they serve rather than depend solely on conventional banking structures.

“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,” Ojo said.

The AltBox model is designed to take banking services closer to communities through dedicated locations that serve individuals, traders and small businesses.

For residents of Agege, the expansion is expected to provide greater convenience in accessing financial services, particularly for people whose businesses and daily activities are concentrated within their immediate neighbourhoods.

The facilities are also expected to support local economic activities, encourage financial participation and generate employment opportunities within the host communities.

The partnership underscores the growing importance of community-based approaches in addressing financial exclusion, especially among small business operators and individuals who face challenges accessing conventional banking services.

By establishing facilities within local communities, alt bank is seeking to strengthen the connection between the formal financial system and grassroots economic activities.

The bank said the Agege expansion aligns with its broader commitment to developing practical financial solutions that respond to the needs of individuals and businesses while promoting inclusive wealth creation.

With six centres already operationally launched in the local government area, the bank’s next target is to complete its presence across all seven wards.

It also expressed willingness to collaborate with other local and state governments interested in expanding community-based banking access in their jurisdictions.

alt bank began its operations in January 2014 as a non-interest banking window within Sterling Bank. In July 2023, it received a banking licence from the Central Bank of Nigeria, allowing it to operate as an independent, fully fledged bank.

Guided by its Advisory Committee of Experts, the institution operates in accordance with the principles and ethics of non-interest banking.

The bank’s expansion strategy is anchored on its corporate purpose of Creating Wealth.