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Polaris Bank, NCF Expand Tree Planting Drive To Lagos, Ogun, And Kaduna States


Polaris Bank, in partnership with the Nigeria Conservation Foundation (NCF), has extended its nationwide tree planting campaign to three key locations: The Lekki Conservation Centre in Lagos State, the Federal University of Agriculture, Abeokuta (FUNAAB), Ogun State and Sardauna College Kaduna, Kaduna State.

 

The initiative, first launched in 2024 during the Bank’s World Environment Day commemoration, is part of Polaris Bank’s broader commitment to combating climate change, reducing carbon emissions, and promoting sustainable environmental practices across Nigeria.

 

The Lagos edition, which held at the iconic Lekki Conservation Centre, was attended by Executive Directors, Chris Ofikulu and Sharafadeen Muhammad, alongside partners from NCF.

 

Speaking at the event, Chris Ofikulu, Executive Director, Commercial and Retail expressed his appreciation to all participants at the Tree-planting exercise, noted that the initiative highlights the importance Polaris Bank attaches to environmental sustainability. He recalled leading the Bank’s first tree planting activity after its launch in 2024 at TASUED, Ogun State.

 

He further noted that the exercise aligns with the United Nations Decade of Ecosystem Restoration, a global movement dedicated to securing a greener future for generations to come. He emphasized that Polaris Bank sees sustainability not merely as a responsibility but as a business imperative.

 

He added that, through this initiative, Polaris Bank reaffirms its role beyond banking services and remains firmly in line with the collective goal of planting 10,000 trees.

 

Also speaking at the event, Sharafadeen Muhammad, Executive Director, Operations, emphasized that protecting the environment and the planet is a shared responsibility for the benefit of all.

 

He described the initiative as a commendable effort and encouraged the establishment of reserves that conserve nature while creating economic value. He further reaffirmed Polaris Bank’s commitment to supporting the tree-planting initiative.

 

In Ogun State, the Divisional Head, Ogun/Oyo, Yetunde Okeleye emphasized that the tree-planting initiative reflects Polaris Bank’s unwavering commitment to environmental sustainability. By planting economic trees across the country, including Ogun State, we are demonstrating that sustainability is not just a responsibility but part of our ethos as a Bank.

 

Our partnership with the Nigerian Conservation Foundation at the Federal University of Agriculture, Abeokuta, underscores our resolve to restore degraded land, prevent soil erosion, and combat climate change.

 

Through this initiative, Polaris Bank reaffirms its role as a driver of environmental stewardship and community well-being, while contributing to a greener and more sustainable future for generations to come.”

 

In Kaduna State, Mr. Kabir Lawal, Acting Group Head, North West, alongside the Bank’s staff from Kaduna business locations, reiterated, sustainability is not just a catchphrase but the Bank’s culture, a journey pursued with conviction.

 

Every decision we make is guided by environmental, social, and governance (ESG) principles, ensuring that we address environmental issues while empowering communities and driving inclusive growth.

 

He further said that the exercise at Sardauna Memorial College, in partnership with the Nigerian Conservation Foundation, is a testament to this commitment. Beyond reducing carbon footprints, our Tree-planting initiative restores degraded areas, prevents soil erosion, improves environmental health, and raises awareness on the importance of preservation.

 

The NCF commended Polaris Bank’s leadership, stressing that the selected trees comprising fruit bearing and shade providing species would serve multiple benefits, including erosion control, wind breaking, shade provision, and food security.

 

Community representatives from FUNAAB and Sardauna College Kaduna expressed gratitude to Polaris Bank and NCF for spearheading the initiatives, describing them as timely and impactful in addressing the global climate challenge.

 

Polaris Bank continues to integrate sustainability into its operations, ensuring that climate action and community development remain central to its long term growth strategy. Through collaborations like this, the Bank reaffirms its role as a catalyst for positive environmental and social impact.

  Our Acquisition Strategy Underpinned By Safety, Operational Excellence, People – Seplat Energy

Cape Town, 2 October 2025: Seplat Energy Plc, leading Nigerian independent energy company, has recorded unprecedented growth since it was founded by acquiring divested assets, unlocking value from them, improving efficiency and safety performance of the assets, whilst driving the entire growth process with a world-class and resilient people (workforce).

Roger Brown, Chief Executive Officer, Seplat Energy Plc, said this at the 2025 Africa Energy Week (AEW) Conference & Exhibition in Cape Town, South Africa.

Brown, who spoke during a Fireside Chat titled “Assets Acquisition Success Strategies: Seplat Energy”, said the company has successfully integrated major acquisitions in the last decade, each time improving efficiency and safety performance, while at the same time reducing routine emissions.

Speaking on its most recent acquisition of Mobil Producing Nigeria Unlimited assets, he said the goal had been to move quickly to re-engage wells and facilities – resulting in the delivery of immediate results; investing early in integrity and reliability – thus reducing downtime while setting a foundation for future growth; and integrating not isn’t just systems, but people.

“We found strong cultural alignment with our new colleagues, and that’s been key to seamless performance. We’ve welcomed their expertise and insights and the entire Group is benefiting from them,” Brown hinted.

According to the Seplat CEO, by combining Seplat’s onshore experience with decades of offshore know-how from new colleagues, the company have built a stronger operation from day one, which is already delivering higher cash flow.

“The recent reserves upgrade shows we have acquired a high-quality asset with significant production potential in both oil and gas, and much of this is within easy reach, close to export infrastructure that we control. We are confident we can increase production and that aligns with the Government’s target to increase liquids production to 3.0 MMbbl, and to increase gas production for both domestic energy and export markets,” he added.    

Speaking o the company strong operator mindset, Brown said Seplat Energy focuses on acquiring assets where its operating capability can unlock hidden value – especially mature fields that benefit from a more agile, entrepreneurial operator, stressing that: “We’ve already proven we can acquire assets onshore and bring them up to high levels of production, whilst keeping tight control of costs, and this has helped us build up a strong balance sheet, invest in our future and return a healthy dividend stream to investors.”   

On the company’s clear appetite for success, the Seplat Energy boss said the focus had always been on safety and operational excellence, which are targeted at maximising production and cash flows that strengthen the business

“We’re a low-cost operator, meaning we can be profitable at good oil prices and we’ve proven we can survive periods of low prices and prolonged lock-ins. We look after our staff, all of whom are very highly qualified, mostly Nigerian, and ensure they are fully aligned with our success, which in turn will bring success for Nigeria’s energy system. We’ve got a deep bench and a strong succession pipeline,” he explained.

In the same vein, Eleanor Adaralegbe, Chief Financial Officer, Seplat Energy Plc, who spoke during a panel discussion titled “Financing Upstream Projects for Domestic Energy Security”, said since inception, the company has continued to blaze the trail with a highly successful capital raising history; of which the company had raised more than $4bn in debt to develop and grow operations whilst continuing to maintain a low leverage threshold of below 1.5x through the cycle.

On the various financing options the company had leveraged since inception, Adaralegbe identified the Initial Public Offer (IPO), Revolving Credit Facility (RCF), Bonds, Advance Payment Facility, as well as other financings like taking over the $110m RBL, which is currently being refinanced (on Eland acquisition of 2019; and putting in place a $320m project financing for ANOH, Seplat’s 50/50 JV with the Nigerian Gas Infrastructure Company (a 100% wholly owned subsidiary of NNPC).

Speaking on financing challenges and what Seplat Energy had done to overcome them, she said: “Corporates are always looking to access low-cost financing for development and growth, more so, Nigerian energy companies, as Nigerian banks have a high USD cost of borrowing. As such, we knew that we had to become a first mover and shape our credit profile to appeal to a wider group of banks and investors. We are the first and only dual listed Nigerian oil and gas company.”

On the company’s key credit highlights, the Seplat Energy CFO listed: Balanced Assets with Substantial Production; Portfolio Diversification Through Gas Business; Uniquely Positioned to Capture Future Growth; Strong Financials and Well-Tested Risk Management; Well managed liquidity; Focus on tax efficiencies; Experienced Management and Strong Governance; and Leading Indigenous and ESG-Focused Operator.

“Seplat Energy has repeatedly been able to refinance to extend maturities and bring down our cost of debt while keeping leverage moderate. We have been able to do this because we are focused on things that lenders are focused on – asset diversification, steady production, strong financials, low leverage, focus on tax efficiencies, strong leadership,” Adaralegbe explained.

On the importance of financing, she said Nigeria’s energy security depended heavily on upstream oil and gas, which fuels both domestic consumption and foreign exchange earnings; declining investment in upstream projects due to global energy transition pressures and perceived risks; and rising domestic demand for gas and power requires urgent expansion of upstream activity, particularly gas exploration and production.

“Until utility-scale renewables, storage, and transmission are materially larger, Nigeria’s ability to keep lights on, vehicles moving, industries running, and households cooking cleanly is fundamentally constrained by upstream oil and gas development, output and associated midstream delivery –  that is upstream development is a direct lever on national energy security,” she advised.

According to Adaralegbe, a stable and predictable fiscal framework is the single most powerful enabler of upstream financing; of which consistent application of PIA provisions, timely JV cash-call settlements, and clarity on commodity pricing policies are essential to de-risk projects and crowd in long-term capital.

 

“Dangote Group Leads Coastal Restoration Drive In Lagos”

The Dangote Group has been hailed for its leading role in environmental sustainability as the company took centre stage at the E1GP Lagos Mangrove Restoration Programme held at the Eko Park Mangrove Sanctuary, Lagos.
The event, which brought together top government officials, traditional rulers, community leaders, corporate sponsors, and international partners, was aimed at combating climate change and restoring Lagos’ fast-depleting mangroves.
Representing Governor Babajide Sanwo-Olu, the Deputy Chief of Staff, Mr. Sam Egube, who chairs the Local Organising Committee of the E1GP Lagos programme, said coastal restoration must be seen as a collective responsibility.
“This coastal restoration will restore communities. Mangroves represent a natural fightback, a nature-based solution to climate change. Together, we can create a Lagos that is greener, stronger, more resilient, and better prepared for the challenges ahead,” he said.
Speakers at the event described mangroves as the “lungs of the earth” and underscored their importance as natural carbon sinks, shoreline protectors, and habitats for biodiversity. They lamented the depletion of mangroves in Nigeria, stressing that the establishment of the Eko Park Mangrove Sanctuary, which covers four acres, is a vital step in reversing the trend through conservation, research, and restoration.
The Dangote Group’s contribution was among the most celebrated, as the company endowed the sanctuary with 10,000 mangroves. Speaking on behalf of the group, Dr. James Adenuga said:
“This is a very symbolic, community-driven initiative. We are glad to be part of it because it is happening just a stone’s throw from our refinery and fertilizer plant. We hope other organizations will follow this example.”
Traditional leaders, including the Baale of the host community, lauded the initiative, describing mangroves as lifelines that provide food, medicine, and coastal protection for generations.
Guests at the event were also treated to a tour of facilities at the sanctuary, including the African Mangrove Museum and the Plank Walkway, designed as a three-kilometre stretch similar to the popular Lekki Conservation Centre. The sanctuary is expected to officially open to the public in December 2025.
In a bid to further promote environmental innovation, the event also marked the launch of the world’s first Electric Boat Race, which Lagos will host under the E1GP programme. This will be followed by the Africa Blue Economy Summit, positioning Lagos as a hub for sustainable development.
The programme climaxed with a symbolic mangrove planting exercise, where participants adopted and tagged trees to monitor their growth.
The day’s activities, stakeholders agreed, underscored one message: while several organisations are involved in mangrove conservation, the leadership and example of the Dangote Group stand out as a model of corporate responsibility.
By investing in nature-based climate solutions and supporting restoration projects close to its refinery, the Group has demonstrated that environmental protection is not just the duty of government but a shared commitment for the future of Lagos and Africa.
Sterling Bank Gifts Nigerians On Independence Day

Sterling Bank gifts Nigerians on Independence Day - NairametricsWinifred Bosa
 Sterling Bank has once again redefined the boundaries of customerfirst banking in Nigeria by scrapping Account Maintenance Fees (AMF) across all personal accounts.
Just months after abolishing transfer fees on local online transactions in April 2025, the bank has dismantled yet another long-standing industry practice, cementing its role as the nation’s leading force for transparent, fair, and customer-focused banking.
This decision cuts at the heart of a revenue model that has long cost Nigerian
customers dearly. In 2024 alone, tier-1 banks raked in over ₦650 billion from account
maintenance and e-banking charges.
Sterling’s move rewrites Nigeria’s banking
rulebook while amplifying its bold stance: customers deserve freedom from too many
deductions and the right to keep more of their hard-earned money.
Abubakar Suleiman, Managing Director of Sterling Bank, explained the principle
driving this bold action: “Every fee we remove is one less barrier between our
customers and true financial freedom. This was the rationale behind eliminating
transfer fees in April, and it is the same principle we uphold as we eliminate account
maintenance fees.”
Obinna Ukachukwu, Growth Executive for Consumer and Business Banking at Sterling
Bank, reinforced this position: “This initiative is about building lasting relationships that
fuel sustainable growth.
We put transparency and customer value first, and in doing so, we are building a foundation that serves both our customers and Sterling’s future.”
As Nigeria marks another Independence Day, Sterling Bank presents this decision as
a declaration of financial independence for millions of Nigerians.
By freeing customers from deductions that silently erode their balances, Sterling is empowering them to keep and grow their wealth while redefining true financial freedom.
With two unprecedented moves in quick succession, the removal of transfer fees in
April and now the elimination of account maintenance charges, Sterling Bank continues to challenge the status quo and champion a new era of fairness in
Nigerian banking.
About Sterling Bank
Sterling Bank is a forward-thinking financial institution committed to transforming lives through innovative solutions, exceptional service, unwavering integrity and a steadfast focus on its HEART strategy.
As pioneers in digital banking and financial inclusion, Sterling continues to lead by example, proving that purpose-driven
leadership can unlock transformative outcomes for individuals, businesses, and
society at large.