Alternative Bank champions youth tech empowerment

The Alternative Bank has championed the call for the provision of critical tech resources to young innovators.

According to a statement from the bank on Sunday, the call was made at the Jericho Businessmen Club’s third Annual Socio-Economic Summit, which brought together business leaders, policy influencers, and members of the academic community, focused on building sustainable economic models and addressing the widening digital skills gap among Nigerian youths.

The non-interest lender emphasised that sustainable nation-building must be anchored on deliberate investments in human capital, with young innovators requiring ecosystem support, mentorship, and access to critical resources to enable them to translate ideas into scalable solutions.

The Executive Director (South) of The Alternative Bank, Korede Demola-Adeniyi, stressed that technology remains a powerful tool for economic inclusion and competitiveness. According to him, strategic investments in youth-focused technology development are essential to Nigeria’s long-term economic 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.

He disclosed that the Bank would be exploring strategic partnerships identified during the summit, with plans to introduce bespoke non-interest financing schemes designed specifically for technology entrepreneurs and vocational skills acquisition programmes. He explained that the initiative is expected to transform local innovation hubs into centres of excellence capable of producing world-class digital solutions.

The lender noted that its intervention aligns with Nigeria’s broader macroeconomic objectives, particularly the drive to diversify national revenue away from crude oil and strengthen emerging sectors. A vibrant technology sector, it said, is critical to building a knowledge-driven economy that can attract foreign direct investment and position Nigeria as a competitive player in the global digital value chain.

It added that empowering young people with relevant digital and vocational skills would help to reduce youth unemployment and stimulate the creation of high-value services across multiple industries. These outcomes, the Bank maintained, are central to building a resilient and sustainable economy capable of delivering long-term growth.

The Alternative Bank further stated that the discussions and resolutions from the JBC summit reinforce its mandate to support inclusive economic growth and impact-driven projects that directly benefit local communities. It pledged to continue collaborating with private-sector players, academic institutions, and industry associations to create platforms that nurture innovation, entrepreneurship, and sustainable development.

The Bank described the summit as a timely intervention, noting that sustained collaboration between business and education stakeholders is critical to closing the digital divide and ensuring that Nigeria’s young population is adequately prepared for the future of work.

The Alternative Bank also affirmed that its participation at the summit highlighted its role in driving meaningful change across the financial and technology landscapes, while positioning Nigerian youth as key contributors to the country’s digital transformation agenda.