By media360impact
ABUJA — Alternative Bank has expanded its presence in Abuja with the opening of a new branch in Gwarinpa, creating another access point for customers seeking financing for renewable energy, agriculture, businesses and other needs.
The branch was officially opened on Wednesday in the presence of traditional leaders, government representatives and institutional partners.
Speaking at the launch, Alternative Bank’s Executive Director for North-Central, South-East and South-South, Garba Mohammed, said the new branch would make it easier for customers in the area to access the bank’s financing products, including its renewable energy solution, Alt Power.
According to Mohammed, Alt Power enables customers to finance renewable energy installations and spread repayment over an agreed period.
“We provide services that give people access to renewable energy. We call the product ‘Alt Power’,” Mohammed said.
He explained that the bank finances the cost of installing renewable energy systems in customers’ homes, allowing them to repay over time.
Mohammed said the product was part of the bank’s wider partnership-based financing approach aimed at improving access to capital.
FG seeks more financing for green projects
The Federal Ministry of Environment, represented at the event, called for greater participation by financial institutions in funding Nigeria’s environmental priorities.
Representing the Minister of Environment, Balarabe Lawal, the ministry’s Deputy Director, Policy and Planning, identified renewable energy, waste management, climate-smart entrepreneurship and green businesses as areas requiring increased financing.
The ministry said government could not achieve its environmental objectives alone and stressed the need for stronger collaboration among financial institutions, businesses, development partners and communities.
The call placed the Gwarinpa branch opening within the broader discussion around how financial institutions can support practical solutions to Nigeria’s energy and environmental challenges.
Traditional ruler urges wider expansion
The Emir of Nasarawa, HRH Ibrahim Usman Jibril, also urged Alternative Bank to extend its physical presence beyond major urban centres.
He noted that many semi-urban and rural communities still have limited access to banking services, arguing that greater physical access could help bring more people into the formal financial system and encourage savings.
For Alternative Bank, the Gwarinpa branch adds another physical location to its growing network in Abuja while providing customers with access to products such as Alt Power.
The branch is also expected to connect customers with financing opportunities in agriculture, business and other partnership-based financial services.
About Alternative Bank
Alternative Bank operates a partnership-based, non-interest banking model, providing banking and financing solutions to individuals and businesses.
Its offerings include renewable energy financing through Alt Power.
Credit/Source: Alternative Bank and statements made by speakers at the Gwarinpa branch launch.
