AltBank Plans Nationwide Expansion to Boost Financial Literacy in Nigeria

Alternative Bank, known as AltBank, is set to open 500 branches across Nigeria to enhance financial literacy, particularly in non-interest banking. The Executive Director, Kored Demola Adeniyi, highlighted the sector's underpenetration at just 1.7% of Nigeria's total bank assets in 2024.

AltBank's growth strategy includes prioritizing sectors like healthcare, education, agriculture, renewable energy, and transport. The bank focuses on partnership-driven models and transparency, emphasizing the importance of public education to improve understanding of non-interest banking principles.