In  a  move  set  to  reshape  the  nation’s  commodities  market,  The  Alternative  Bank (AltBank)  has  announced  a  strategic  partnership  with  the  Nigeria  Commodity Exchange (NCX) aimed at unlocking greater value across the agricultural value chain through a structured, finance-enabled commodities trading ecosystem. 

At the heart of the partnership is a commitment to introduce electronic warehouse receipts (EWRs) as credible collateral, giving farmers, aggregators, and commodity players  access  to  much-needed  liquidity  without  the  burden  of  immediate  sales. 

Speaking  on  the  significance  of  the  agreement,  Group  Head, Structured Trade and Commodities Finance at The Alternative Bank, Gbenga  Awe,  said: “This partnership is a bold step towards rewriting the narrative for Nigeria’s commodity value chain. For far too long, smallholder farmers and agri-SMEs have been trapped by poor access to capital, post-harvest losses, and unfair price pressures. 

“What we’re building with NCX is a structure that allows them to hold on to value, trade on their own terms, and grow sustainably. We are enabling capital to flow in non-traditional, tech-driven ways that suit the realities of our market.” 

 On  his  part,  Anthony  Atuche,  Managing  Director  of  the  Nigeria  Commodity Exchange, noted: “Our mandate at NCX has always been to create a transparent, efficient, and inclusive commodities market that works for everyone, especially producers. 

This partnership with The Alternative Bank is a major leap in that direction. By facilitating financing through electronic warehouse receipts, we are strengthening price discovery, reducing distress selling, and laying the foundation for a more structured and secure trading environment.” 

This partnership comes as the Nigerian government, in partnership with the Nigeria Commodity Exchange (NCX) and the Africa Trade and Distribution Company (ATDC), is establishing a National Export Trading Company (NETC). 

The AltBank and NCXcollaboration  directly  responds  to  this  challenge  by  unlocking  capital,  stabilising commodity trade, and enabling producers to trade from a position of strength. 

The agreement with NCX is a natural extension of The Alternative Bank’s longstanding commitment to advancing commodity trading and financing, aiding financing for major export cropssuch as cocoa, cashew, sesame and soya beans.

Accion MfB Launches Digital Banking App

Michael Olugbode in Abuja

Nigeria’s leading microfinance institution, Accion Microfinance Bank (MfB) has launched AccionMonie, a transformative digital financial services platform designed to empower individuals, micro, small and medium enterprises (MSMEs) and low-income households.

The bank in a statement said through AccionMonie, the microfinance bank is expanding digital capabilities for financial

access and empowerment across the spectrum of underserved individuals and businesses. The user-friendly platform offers instant access to essential services, including loans, savings, capital,and other forms of support.

It started that the launch of AccionMonie is a key part of the bank’s “Always there to lend you a hand”campaign, which reinforces its long-standing commitment to small business growth and thewelfare of low-income households. The campaign positions Accion MFB not just as a financial provider but as a trusted partner in its customers’ journey towards business success and economic empowerment.

In Nigeria, micro, small and medium enterprises (MSMEs) are one of the key growth drivers of the economy. Estimated at about 37 million, MSMEs currently account for 86 per cent of employment and 48 per cent of Gross Domestic Product (GDP). 

However, despite their strongpotential, the MSMEs continue to be impacted by existential challenges, notably access to capital and finance, infrastructure and an enabling business environment.

Chief Executive Officer (CEO) of Accion MfB, Taiwo Joda, described the launch ofAccionMonie as an important milestone and a testament to the bank’s culture of innovation; one that ensures its products and offerings continue to reflect the evolving needs of its customers.

He said: “At Accion Microfinance Bank, we believe in the potential of every MSME to drive inclusive economic growth. That is why we are committed to empowering them with the financial support they need to grow, innovate, and make a lasting impact in their communities and beyond.”

On his part, the Chief Commercial Officer (CCO) of the bank, Stephen Olalere, stated that AccionMonie and the combination of the bank’s extensive network of over 74 branches in 12 states will address the persistent challenge of limited access to financial services faced by many small businesses in Nigeria. He added that the platform’s user-friendly features will simplify payments and offer much-needed support for both businesses and individuals.

The Chief Digital Officer of the bank,Paul Ehiagbonare, said this is a bold move towards digital leadership, maturity and excellence. He stated that: “For us, AccionMonie is a reflection of the much needed customer empowerment through digital tools and technologies. We are not only providing access to finance but standing beside our customers as partners, supporting their ambitions when othersmay not and doing so timely and more efficiently. Our goal is to be a reliable ally on their journey toward growth, stability, and long-term success.”