Business
INTRODUCING ALAT XPLORE APP: NIGERIA’S FIRST LICENSED BANKING APP FOR TEENAGERS
*INTRODUCING ALAT XPLORE APP: NIGERIA’S FIRST LICENSED BANKING APP FOR TEENAGERS
In today’s world, financial literacy has become an essential life skill, particularly for the younger generation. Recognising this need, Wema Bank—Nigeria’s most innovative bank and pioneer of Africa’s first fully digital bank, ALAT—proudly introduces the ALAT XPLORE App, Nigeria’s first licensed banking app specifically designed for teenagers aged 13 to 17.
The ALAT Xplore App empowers young individuals to take control of their finances while acquiring vital money management skills. ALAT XPLORE is not just another banking app; it is a comprehensive financial tool that seamlessly combines education, engagement, and empowerment for teenagers’ financial success. With a user-friendly interface and interactive features, the ALAT Xplore app provides teenagers with a unique opportunity to learn about banking, saving, and spending in a safe and controlled environment, as they journey towards the realities of adulthood.
The App encourages teens to explore intelligently, providing seamless navigation across its various functionalities and offering teens the chance to customise the App based on their preferences and request one of three unique debit card designs. The ALAT Xplore Cards are issued in the teenager’s name, fostering a sense of ownership, pride and independence that simultaneously instills a sense of responsibility in them as they learn to manage their spending. To request for your ALAT Xplore Debit Card, click here.
One of the standout functionalities of the ALAT XPLORE App is the goal-setting feature. Teens can set savings goals on the App—whether it’s saving for a new gadget, planning a fun outing, or even making a charitable donation. They can track their progress, seamlessly on the App, making the saving process exciting and rewarding for them.
To ensure financial security for the teenagers, the ALAT Xplore App works hand in hand with the ALAT App, allowing parents to guide their children in making informed financial decisions. Teens can easily request money from their parents or guardians in a few clicks on the App, while parents grant the requests and can track their teens’ expenses on the ALAT Xplore App, via the ALAT App. This not only promotes healthy conversations regarding budgeting and financial goals, but also ensures that teenagers can explore financial opportunities with maximum security.
Here’s how the ALAT Xplore App works:
– The Parent or guardian opens an ALAT App Account for their teenager on the ALAT app.
– The teenager downloads the ALAT Xplore App, fills in the required information and sends a link to the parent/guardian requesting permission to use the ALAT Xplore App.
– The parent/guardian grants the permission via the ALAT App.
– Once approved, the teenager can login at anytime, request an ALAT Xplore Debit Card, set up Savings Goals and explore all the unique features on the App, on their phone.
As the first licensed banking app for teenagers in Nigeria, the ALAT XPLORE App powered by Wema Bank is set to revolutionise how teenagers approach money management towards building more financially responsible adults.
The ALAT Xplore App officially launches on Saturday, October 26, 2024. However, teenagers can click here to download the ALAT Xplore App now on PlayStore or AppStore, to start exploring the innovative App.
Want to attend to virtual launch event, click here to register.
Nigeria’s Inflation Drops to 15.10% as NBS Reports Deflationary Trend
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Alpha Morgan to Host 19th Economic Review Webinar
In an economy shaped by constant shifts, the edge often belongs to those with the right information.
On Wednesday, February 25, 2026, Alpha Morgan Bank will host the 19th edition of its Economic Review Webinar, a high-level thought leadership session designed to equip businesses, investors, and individuals with timely financial and economic insight.
The session, which will hold live on Zoom at 10:00am WAT and will feature economist Bismarck Rewane, who will examine the key signals influencing Nigeria’s economic direction in 2026, including policy trends, market movements, and global developments shaping the local landscape.
With a consistent track record of delivering clarity in uncertain times, the Alpha Morgan Economic Review continues to provide practical context for decision-making in a dynamic environment.
Registration for the 19th Alpha Morgan Economic Review is free and can be completed via https://bit.ly/registeramerseries19
It is a bi-monthly platform that is open to the public and is held virtually.
Visit www.alphamorganbank to know more.
GTBank Launches Quick Airtime Loan at 2.95%
Guaranty Trust Bank Ltd (GTBank), the flagship banking franchise of GTCO Plc, Africa’s leading financial services group, today announced the launch of Quick Airtime Loan, an innovative digital solution that gives customers instant access to airtime when they run out of call credit and have limited funds in their bank accounts, ensuring customers can stay connected when it matters most.
In today’s always-on world, running out of airtime is more than a minor inconvenience. It can mean missed opportunities, disrupted plans, and lost connections, often at the very moment when funds are tight, and options are limited. Quick Airtime Loan was created to solve this problem, offering customers instant access to airtime on credit, directly from their bank. With Quick Airtime Loan, eligible GTBank customers can access from ₦100 and up to ₦10,000 by dialing *737*90#. Available across all major mobile networks in Nigeria, the service will soon expand to include data loans, further strengthening its proposition as a reliable on-demand platform.
For years, the airtime credit market has been dominated by Telcos, where charges for this service are at 15%. GTBank is now changing the narrative by offering a customer-centric, bank-led digital alternative priced at 2.95%. Built on transparency, convenience and affordability, Quick Airtime Loan has the potential to broaden access to airtime, deliver meaningful cost savings for millions of Nigerians, and redefine how financial services show up in everyday life, not just in banking moments.
Commenting on the product launch, Miriam Olusanya, Managing Director of Guaranty Trust Bank Ltd, said: “Quick Airtime Loan reflects GTBank’s continued focus on delivering digital solutions that are relevant, accessible, and built around real customer needs. The solution underscores the power of a connected financial ecosystem, combining GTBank’s digital reach and lending expertise with the capabilities of HabariPay to deliver a smooth, end-to-end experience. By leveraging unique strengths across the Group, we are able to accelerate innovation, strengthen execution, and deliver a more integrated customer experience across all our service channels.”
Importantly, Quick Airtime Loan highlights GTCO’s evolution as a fully diversified financial services group. Leveraging HabariPay’s Squad, the solution reinforces the Group’s ecosystem proposition by bringing together banking, payment technology, and digital channels to deliver intuitive, one-stop experiences for customers.
With this new product launch, Guaranty Trust Bank is extending its legacy of pioneering digital-first solutions that have redefined customer access to financial services across the industry, building on the proven strength of its widely adopted QuickCredit offering and the convenience of the Bank’s iconic *737# USSD Banking platform.
About Guaranty Trust Bank
Guaranty Trust Bank (GTBank) is the flagship banking franchise of GTCO Plc, a leading financial services group with a strong presence across Africa and the United Kingdom. The Bank is widely recognized for its leadership in digital banking, customer experience, and innovative financial solutions that deliver value to individuals, businesses, and communities.
About HabariPay
HabariPay is the payments fintech subsidiary of GTCO Plc, focused on enabling fast, secure, and accessible digital payments for individuals and businesses. By integrating payments and digital technology, HabariPay supports innovative services that make everyday financial interactions simpler and more seamless.
Enquiries:
GTCO
Group Corporate Communication
[email protected]
+234-1-2715227
www.gtcoplc.com
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