The Alternative Bank has reaffirmed its commitment to supporting young Nigerian innovators through access to technology, finance, and skills development. The bank made this known during the Jericho Businessmen Club’s third Annual Socio-Economic Summit, which gathered business leaders, academics, and policymakers to examine sustainable economic models and tackle the widening digital skills gap among youths.
In a statement on Sunday, the non-interest lender stressed that sustainable nation-building depends on deliberate investment in human capital. It explained that young innovators need ecosystem support, mentorship, and critical resources to turn ideas into scalable solutions. The Executive Director (South) of The Alternative Bank, Korede Demola-Adeniyi, said technology remains a core driver of inclusion and competitiveness, adding that strategic investment in youth-focused development is vital for Nigeria’s long-term resilience.
“Technology is the most potent equaliser in modern commerce, and by investing in the technological upliftment of our youth, we are future-proofing our economy. We believe in providing alternatives not just in finance, but in opportunity, ensuring that local talent have the tools and environment to compete globally,” he said.
The bank noted that it would explore strategic partnerships identified during the summit and introduce bespoke non-interest financing schemes for technology entrepreneurs and vocational skills programmes. It said the goal is to transform local innovation hubs into centres of excellence capable of producing world-class digital solutions.
According to the lender, its intervention aligns with Nigeria’s broader macroeconomic agenda to diversify revenue away from crude oil and stimulate emerging sectors. It stated that a vibrant technology space is key to building a knowledge-driven economy able to attract foreign investment and position the country competitively in the global digital chain.
It added that empowering youths with relevant skills will reduce unemployment and stimulate high-value services across industries. The bank maintained these outcomes are central to building a resilient economy capable of long-term growth.
The Alternative Bank also said discussions and resolutions from the Jericho summit reinforce its mandate to support inclusive development and impact-driven projects that benefit local communities. It pledged continued collaboration with private organisations, institutions, and industry bodies to create platforms that nurture innovation, entrepreneurship, and sustainable development.
The summit, according to the bank, arrived at a critical time, emphasising that ongoing collaboration between business and education stakeholders is necessary to close the digital divide and ensure that Nigeria’s youths are prepared for the future of work. It affirmed that its participation highlighted its role in driving meaningful transformation in both finance and technology while positioning the youth as central contributors to the country’s digital journey.
Earlier, the bank unveiled a partnership pipeline involving universities, incubators, and coding academies to co-create learning pathways in fintech, robotics, business automation, and digital trade. This initiative followed internal research which showed that capital provision alone cannot close the innovation gap without skills transfer. Executives said the new partnerships would foster a more structured innovation ecosystem, echoing the message promoted at the Jericho summit.
In May, The Alternative Bank announced a non-interest funding framework for early-stage founders under its Innovation and Enterprise Support portfolio, targeting startups, digital artisans, and vocational youth ventures.
The bank explained that the programme was developed after observing that young innovators struggled to scale ideas because they lacked finance that aligned with ethical models.
