Alternative Bank has opened a new branch in Gwarinpa, Abuja, expanding its footprint as part of a drive to bring non-interest financing closer to households, small businesses and underserved communities.
The branch was formally launched in the presence of traditional leaders, government representatives and institutional partners, with discussions focused on poverty, youth employment, rural banking access and the role of finance in expanding economic opportunity.
Speaking at the event, Executive Director of Alternative Bank for North-Central, South-East and South-South, Garba Mohammed, said Gwarinpa was chosen for its large residential population and strong commercial activity.
He said the branch would advance the bank’s model of partnership-based banking and wider distribution of capital.
Mohammed linked financial exclusion to broader social challenges.
“Violence and poverty are the root cause of violence. When people are hungry, they become angry,” he said.
“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,” he added.
In his remarks, the Emir of Nasarawa, Ibrahim Usman Jibril, welcomed the expansion but urged the bank to look beyond urban centres.
He said many rural communities remain completely unbanked, forcing residents to travel long distances with cash to access formal services.
“In future, we should think about our rural areas, which are completely unbanked and will need these banking services to be able to grow,” Jibril said.
Also speaking, the Hakimi of Gwarinpa District, Prince Umar Bayero, said the presence of the bank in the district would widen financing options for young people, farmers and small businesses.
On his part, Executive Chairman of the National Hajj Commission of Nigeria (NAHCON), Amb. Ismail Abba Yusuf, said bringing financial services closer to communities can support employment and economic activity, while also giving prospective pilgrims in Abuja easier access to Alternative Bank’s Hajj savings services.
The Gwarinpa opening is part of Alternative Bank’s broader strategy of taking banking and ethical financing closer to where people live and work.