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Sopuruchi Onwuka
The Alternative Bank (AltBank), Nigeria’s non-interest bank, has opened its flagship branch in Effurun, Delta State in a plan to reshape how people across the Edo and Delta region experience banking.
The bank stated in a media release made available to Oracle Intelligence that the new branch is built to serve as a hub for purposeful banking and real financial empowerment for individuals, entrepreneurs, and businesses.
Speaking at the launch, Chukwuemeka Agada, Divisional Head (South) of The Alternative Bank, stressed the Bank’s commitment to Warri and the communities around it. He said the new branch marks the start of a shift in how banking supports people in Delta State. According to him, AltBank’s purpose-driven model is designed to help customers reach and surpass their financial goals. He added that the branch stands as a promise to support the region’s businesses and families with tools that help them grow without compromise.
Agada also noted that Delta State, known for its strong trading culture and industrious people, offers the right environment for AltBank’s expansion. “We understand the heartbeat of this community, and we are excited to integrate our Bank into the fabric of this dynamic region,” he said.
The launch drew several dignitaries, including His Royal Majesty Emmanuel Ekemejewa Sideso Abe I, the Ovie of Uvwie Kingdom. Also present were the Chairman of Uvwie Local Government, Hon. Chief Anthony O. Ofoni, represented by Hon. Andrew Agagbo, and Hon. Ernest Airoboyi, Special Adviser to the Governor of Delta State on Community Development. Their attendance showed the strong community support behind AltBank’s plan to bring accessible non-interest banking to the region.
Chief (Dr.) Samuel Eshenake, who represented the Ovie, urged the Bank to create jobs and support development in the Effurun community. Akanni Owolabi, Regional Head for Edo and Delta at The Alternative Bank, welcomed the challenge. He assured the community that the Bank will work in a sustainable way that helps local commerce grow.
“At The Alternative Bank, we are committed to being an active partner in the development of Effurun. We see this branch as a catalyst for creating opportunities, driving employment, and supporting the growth of local businesses. Our mission is to empower this community and ensure that every step forward brings progress, prosperity, and shared success,” Owolabi said.
The Bank encouraged residents to embrace this new chapter, confident that the Effurun branch will become a cornerstone for its growth and the region’s advancement.
The Alternative Bank began in January 2014 as a non-interest banking window within Sterling, built on a vision to create a banking experience that respects individuality and connects with customers on their own terms. In July 2023, the Central Bank of Nigeria granted The Alternative Bank a full banking license, allowing it to operate as an independent institution. With guidance from its Advisory Committee of Experts, the Bank ensures all operations meet the ethics of Non-Interest Banking.
