Bank
WEMA BANK PIONEERS NIGERIA’S FIRST LICENSED BANKING APP FOR TEENAGERS, ALAT XPLORE APP
WEMA BANK PIONEERS NIGERIA’S FIRST LICENSED BANKING APP FOR TEENAGERS, ALAT XPLORE APP
Wema Bank, Nigeria’s foremost innovative bank and pioneer of Africa’s first fully digital bank, ALAT, has launched its highly anticipated ALAT Xplore App, a first-of-its-kind mobile banking app designed strategically to empower teenagers ages 13-17 with financial resources and opportunities to give them a head-start towards financial responsibility. The groundbreaking App was unveiled at the official launch event on Saturday, October 26, 2024 in Lagos.
Currently available on the PlayStore or App Store, ALAT Xplore App is breaking new ground as the first-ever licensed Nigerian banking app for teenagers. The App boasts a unique range of engaging, educative and innovative features that make finance management more interesting for teenagers and help them weave financial literacy into their daily lives. The App offers a seamless onboarding experience, savings goals for Teens to save towards specific targets of their choice at any frequency and earn interest, airtime and data purchases, widgets that allow teens customise the App’s interface based on their preferences. The ALAT Xplore App also allows teenagers access a debit card for their use, offering a range of three unique, intriguing and innovative ALAT Xplore Debit card design options to select from, based on their preference.
Built with a unique parental-control framework, the ALAT Xplore App works in connection with the ALAT App, offering a unique experience that allows teenagers manage their finances via the ALAT Xplore App, with parents able to supervise and control the teenagers’ access to onboard on the app, as well as their use of funds. The parent/guardian opens, funds and manages the ALAT Xplore Account for their Teen via the ALAT App. While the teenager can download the ALAT Xplore App on the App Store and Playstore, the parent is required to give approval for the teen to complete the onboarding process on the App. Once the parent/guardian approves, the teenager can log in and use the ALAT Xplore App any time.
To further ensure that the teenagers’ use of the ALAT Xplore App does not interfere with the parents’ overall financial contributions towards the teen’s future, the ALAT Xplore App operates with a wallet account connected to the ALAT Xplore Account. The parent funds the wallet account at their discretion, and the teen can access any amount funded into the wallet account using the ALAT Xplore App; not the entire amount in the ALAT Xplore account. Where teens run out of funds on the ALAT Xplore App, the App offers a smart feature through which they can request money from their parent/guardians in a few clicks. The parent/guardian simply receives a notification telling them how much their teen has requested as well as what they need the money for, with the option of granting the request.
The ALAT Xplore App Launch is guaranteed to be a gamechanger not just in the Nigerian banking and financial services industry, but also for teenagers across Nigeria who will now be able to bank on their mobile phones, manage their finances, save at their pace, spend with debit cards issued in their name, learn efficient finance management and get a head-start in financial responsibility as they journey towards adulthood.
Wema Bank’s MD/CEO, Moruf Oseni, emphasised the importance of inculcating financial literacy from early childhood and teenage years, towards producing more financially responsible adults. “Teenagers stand at a confluence between childhood and adulthood, and while 0-8 are regarded the formative years, teenage years have the capacity to steer the course of adulthood, and it is important that we leverage this pivotal phase to steer teens in the right direction. We had created the ALAT Xplore Account to help parents and guardians build a solid financial foundation for their teens, and the results have been impressive so far. However, we identified an equally important need for these teens to become involved in this journey to financial success, hence the launch of the ALAT Xplore App. The App has been curated intentionally to give teens a head-start in their journey to financial independence, helping them understand the intricacies of finance management and how best to navigate the terrain, ensuring that by adulthood, they are equipped to thrive. The goal is to build more financially responsible adults from the point of being teens”.
“We are excited to launch teenagers across Nigeria into a world of financial possibilities through the ALAT Xplore App, and we invite parents, guardians and teenagers across Nigeria to join us on this thrilling journey. As always, we have been thoughtful in curating this App to serve the needs of teenagers with some parental control as an added measure to guide these teenagers. The big picture for us is to empower teens towards financially responsible adulthood by introducing them to the practicalities of finance management in the most simplified, relatable and realistic way. I encourage every teen to download the ALAT Xplore App and onboard, every parent or guardian to open an ALAT Xplore Account for their teenager on the ALAT App, and every Nigerian to take pride in spotlighting, promoting and adopting this pioneering innovative solution that is set to rejig the industry and empower teens for a productive and successful future. The ALAT Xplore App is a game changer in the Nigerian banking industry and as we did when we pioneered ALAT, we are ushering in a new era of financial inclusion for Nigerians, this time, for teenagers”, Oseni concluded.
The ALAT Xplore App is the Nigeria’s first licensed banking app for teenagers. The App is accessible from any part of the world, allowing teenagers within and outside Nigeria to onboard on the app provided their parents have opened ALAT Xplore accounts for them on ALAT. The intriguing card designs also present a new opportunity for teenagers to own and operate their own debit cards issued in their own name, as they explore on their journey to adulthood.
Teenagers are encouraged to download the ALAT Xplore App on the Playstore or App Store to onboard and request a debit card of their choice. Parents and guardians are to download the ALAT App, open an ALAT Xplore Account for their teens and give approval in-app for their teen to fully onboard.
GTCO Plc Releases 2025 Full Year Audited Result
…Declares Another Record Dividend of ₦12.76k; Re-affirming Unrivalled Capacity to Creating Value
Guaranty Trust Holding Company Plc (“GTCO” or the “Group”) has released its Audited Consolidated and Separate Financial Statements for the year ended December 31, 2025, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE).
The Group reported profit before tax of ₦1.23trillion underpinned by strong growth in core earnings, with interest income and fee income increasing y-o-y by 23.2% and 25.9%, respectively. The performance reaffirms its capacity to generate sustainable earnings and builds on the momentum from 2024, when GTCO delivered a record profit of ₦1.27trillion, driven in part by ₦517.5billion in fair value gains, which did not recur in 2025.
The Group’s 2025 profit after tax came in at ₦865.75billion against ₦1.02trillion recorded in 2024. The profit after tax reflects the impact of recent fiscal policy adjustments to the taxation of investment securities, notably withholding tax on short-term instruments. However, when normalised for this effect, underlying earnings remain robust, driven by growth in core operating income.
The Group continues to maintain a well-structured, healthy, and diversified balance sheet in all the jurisdictions wherein it operates a Banking franchise, as well as across its Payments, Pension and Funds Management business verticals. Total assets and shareholders’ funds closed at ₦17.8trillion and ₦3.4trillion, respectively. Capital Adequacy Ratio (CAR) remained very robust and strong, closing at 43.8%, likewise asset quality improved as evidenced by IFRS 9 Stage 3 Loans which closed at 3.4% and 5.0% at Bank and Group level in FY-2025 (Bank, 3.5%, and Group, 5.2% in December 2024). Cost of Risk (COR) also improved to 2.2% from 4.9% in December 2024. In specific terms, the Group’s loan book (net) grew by 12.4% from ₦2.79trillion as of December 2024 to ₦3.13trillion in December 2025. Similarly, deposit liabilities grew by 23.8% from ₦10.40trillion to ₦12.87trillion during the same period.
Commenting on the results, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc, Mr. Segun Agbaje, said: “Our 2025 result underscores the resilience and depth of our earnings capacity. Following a record 2024, which included significant fair value gains, our focus has been on strengthening the sustainability of our earnings by driving growth across our core banking and ecosystem businesses. The strength of our underlying earnings, despite a stronger Naira and tighter regulatory parameters, reflects the quality of our franchise and the discipline with which we execute our strategy. Importantly, this strong core earnings performance underpins our capacity to sustain and grow shareholder returns. Our record dividend payout this year is not only a reflection of our current profitability but also of our confidence in the Group’s long-term earnings potential. Looking ahead, we remain focused on scaling our ecosystem, driving innovation across our financial services platform, and delivering consistent, high-quality earnings that support superior value creation for our shareholders.”
Overall, the Group continues to post one of the best metrics in the Nigerian Financial Services Industry in terms of key financial ratios i.e., Post-Tax Return on Equity (ROAE) of 28.3%, Post-Tax Return on Assets (ROAA) of 5.3%, Capital Adequacy Ratio (CAR) of 43.8% and Cost to Income Ratio of 27.9%.
Guaranty Trust Holding Company Plc is a leading financial services group with operations across Africa and the United Kingdom. Renowned for its strong corporate governance, innovative financial solutions, and customer-centric approach, the Group provides a wide range of banking and non-banking services including payments, funds management, and pension fund administration. GTCO Plc is committed to delivering long-term value to stakeholders while driving growth and development across its markets
ZENITH BANK OPENS MANCHESTER BRANCH TO SUPPORT CROSS-BORDER TRADE AND INVESTMENT
Zenith Bank Plc has announced the opening of a new branch in Manchester, United Kingdom, marking another significant milestone in the bank’s international growth and its commitment to strengthening financial connections between Africa and global markets.
The official opening ceremony, scheduled to hold on Tuesday, March 17, 2026, is expected to attract government officials from Nigeria and the United Kingdom, regulators, investors, customers, and business leaders from both countries, underscoring the growing economic ties and investment opportunities between the two markets.
The new Manchester branch will complement Zenith Bank’s existing operations in the United Kingdom and serve as a strategic hub for supporting businesses engaged in international trade and investment. Through the branch, the bank will provide corporate banking, trade finance, treasury and related financial services to clients operating across the United Kingdom, Europe and Africa.Speaking ahead of the launch, the Group Managing Director/Chief Executive Officer of Zenith Bank Plc, Dame Dr. Adaora Umeoji, OON, said: “The opening of our Manchester branch represents another important step in Zenith Bank’s growth as a leading African financial institution connecting businesses and markets across continents. Manchester is one of the United Kingdom’s most dynamic commercial centres, and our presence here will further strengthen financial connections between businesses in the UK and opportunities across Africa’s rapidly expanding markets.
”Founded in 1990 by its Founder and Chairman, Jim Ovia, CFR, Zenith Bank has grown into one of Africa’s most respected banking institutions, boasting a robust capital base and a remarkable history of year-on-year profitability. Built on a strong foundation of people, technology and service, the Bank has consistently delivered innovative financial solutions while maintaining a disciplined approach to growth and risk management. The impressive performance of the Bank has consistently earned it excellent ratings, recognition and endorsement from local and international agencies and institutions.Headquartered in Lagos, Nigeria, Zenith Bank operates over 500 branches and business offices across the 36 States of the Federation and the Federal Capital Territory (FCT). The Bank currently operates subsidiaries in several African countries including Ghana, Sierra Leone, Gambia, and Cote d’Ivoire, while maintaining a presence in major international financial centres including the United Kingdom, France, UAE and China.
In recent years, Zenith Bank has continued to expand its international network as part of its strategy to support global trade and investment flows involving Africa.Manchester, widely regarded as one of the United Kingdom’s most vibrant economic centres, hosts a diverse base of businesses across sectors such as manufacturing, engineering, logistics, technology and consumer goods. The city’s strong commercial ecosystem and international outlook align closely with Zenith Bank’s expertise in corporate banking, structured finance and trade finance.The Manchester branch will work closely with the Bank’s London operations and its broader international network to support clients seeking to expand across markets and unlock new opportunities in both the United Kingdom and Africa.
With the opening of the Manchester branch, Zenith Bank continues to advance its vision of building a truly global African banking institution that connects businesses, facilitates trade and investment, and creates stronger economic bridges between Africa and the world.
Alpha Morgan Bank Deepens Presence in Abuja with New Branch in Utako
Marking another milestone in its expansion drive, Alpha Morgan Bank has opened a new branch in Utako, Abuja, reinforcing its strategy of building closer institutional ties within key business communities and bringing its financial expertise closer to individuals, and enterprises driving the city’s growth.
The new branch, located at Plot 1121 Obafemi Awolowo Way, Utako, Abuja is strategically positioned to serve individuals, entrepreneurs, and corporate clients within Utako and surrounding districts.
The expansion follows the Bank’s recently concluded Economic Review Webinar held in February 2026, as the bank continues to position as a thought-leader in the financial services industry.
Speaking on the opening, Ade Buraimo, Managing Director of Alpha Morgan Bank, said the move underscores the Bank’s commitment to accessibility and service excellence.
“Proximity matters in banking. As communities grow and commercial activity expands, financial institutions also evolve to meet customers where they are. The Utako Branch allows us to deliver our services to people in that community efficiently while maintaining the high standards our customers expect,”
The Utako location will provide a full suite of retail and corporate banking services, including account opening, deposits, transfers, business banking solutions, and financial advisory support.
Customers and members of the public are invited to visit the new Utako Branch to experience the Bank’s approach to satisfying banking.
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