News
Coca-Cola Foundation Champions Marine Plastic Collection through RESWAYE Project

The COVID-19 pandemic has hit the shores of almost every country in the world. While the immediate impact of the virus has been felt in major cities, the economic impact of the pandemic spreads quickly to rural areas.
In Nigeria, there has been significant economic impact for many, especially those living in the rural communities.
A ripple effect of the Coronavirus disease is the drastic increase in the use of plastic, the main component in hand sanitizer bottles, takeout containers and other products central to our new way of life, following the lockdown restrictions. This has further exposed the lapses in waste management and recycling.
As a result of the New World Project of The Coca-Cola Foundation titled RESWAYE (Recycling Scheme for Women and Youth Empowerment), much-needed comfort has been brought to these vulnerable communities through a Plastic buy-back scheme across 16 coastal communities in Ibeju Lekki. With considerable joy, these low-income communities exchanged their plastic for cash during a recent outreach led by Doyinsola Ogunye, founder of Mental and Environmental Development Initiative for Children (MEDIC).
MEDIC, the implementing partner of the RESWAYE project, is an NGO focused on building a sustainable environment and oceans through improved education and job creation for more resilient communities.
They stand for growth and are passionate about their work with communities, especially in areas around plastic pollution, recycling and empowering women & youths along the Atlantic coast in Lagos, Nigeria.
This has brought hope to the women and youths in these communities who earn decent wages from these recovered plastic bottles to better support their families in these challenging times.
Every year, eight million metric tons of plastic finds its way into the ocean, this is equivalent to a truckload of plastic being dumped into the ocean every minute.
This waste poses a clear and present danger to marine life, as well as coastal communities that are forced to deal with plastic bottles washing up on their shores.
The RESWAYE initiative buys back recyclable materials from women and youths to encourage a cleaner, more sustainable environment.
Amongst the 16 participating communities in Ibeju-Lekki, a total of over 72,000 kilograms of recyclable plastic waste materials have been recovered across Eti-Osa and Ibeju-Lekki communities in Lagos state.
Remarking on the initiative, Sebidat Sam, the Women Leader for the Okun Ise, Ibeju-Lekki community said “Na good thing, with this we clean the environment and also collect money to take care of our family”.
Speaking on behalf of The Coca-Cola Foundation, Nwamaka Onyemelukwe, public affairs, Communications & Sustainability Manager, Coca-Cola Nigeria Limited, said, “By partnering with NGOs such as RESWAYE, Coca-Cola aims to develop an effective recycling system that meets the unique needs of local communities, making recycling more accessible for everyone while also encouraging the economic empowerment of women and youths”.
The giveback program also featured an education drive, a medical outreach and a financial empowerment program. With children and youths out of school due to closures mandated by the government in a bid to curb the spread of COVID-19, the education drive provided out-of-school children with books and stationery to facilitate the continuity of education for all through remote learning.
The medical outreach in partnership with the Fola David Foundation provided residents of the communities with face masks and mosquito nets.
The program also created awareness on the importance of good hand hygiene through practical demonstration of best handwashing practices to prevent the spread of the COVID-19 virus.
Basic financial literacy and account opening exercises were also conducted during the give back program.
Karim Aishat, a beneficiary of the program recalled her initial fear of the coronavirus and how the education she had just received will help her keep her family and community safe.
Speaking on working with the coastal communities, Doyinsola Ogunye, founder of MEDIC said, “Seeing our network of women and youth recyclers protect the shorelines and coastlines of Lagos state as they gather plastic waste has been deeply fulfilling.
“Economically empowering the women and youths during these turbulent times as they continue to preserve the environment is paramount”.
Coca‑Cola’s “World Without Waste” vision fosters collaboration with multiple stakeholders, including partners, government and civil societies like MEDIC, and promotes continued leadership in packaging waste reduction by helping to collect the same amount of packaging the company sells for reuse by end of 2030.
This vision also supports communities by helping them identify and better understand their existing recycling and collection challenges while engendering a recycling culture amongst residents.
News
NIA Questions Legality of Reps’ Financial Probe

The Nigerian Insurers Association has urged the House Committee on Capital Market and Institutions to respect the constitutional separation of powers as it carries out a probe on over 20 insurance firms.
In a statement on Tuesday night, the Director General/Chief Executive Officer of NIA, Mrs Bola Odukale, said the decision of NIA and the affected firms to approach the court was to seek clarity on the constitutional limits of the House Committee’s probe.
It would be recalled that the House of Representatives on Monday is investigating no fewer than 25 insurance companies operating in the country for various financial infractions spanning financial reporting, claims settlement, premium remittance, and issuance of policies.
The Chairman, House Sub-Committee on Capital Market and Institutions, Kwamoti Laori, during a meeting with the management of the insurance companies at the National Assembly Complex in Abuja, said the meeting was convened following the receipt of a petition on infractions by the insurance companies.
In the statement, Odukale said, “The Association wishes to state unequivocally that all actions taken by the NIA and the affected member companies in response to the Committee’s invitations and pronouncements were based entirely on legal advice by its Solicitors. It was on the firm instruction of legal counsel that recourse was made to the courts.
“The objective of approaching the Court is to seek judicial guidance on the legality, propriety, and constitutional limits of the Committee’s intervention in order to safeguard institutional integrity, uphold regulatory independence, and ensure that legislative oversight remains within the bounds of law.
“The Court action seeks to determine whether the current posture of the Committee reflects an exercise of legislative judgment, which, by constitutional design, is the exclusive province of statutory regulators, such as the National Insurance Commission, Securities and Exchange Commission, Nigerian Exchange, Financial Reporting Council, Nigeria Data Protection Commission, and the National Information Technology Development Agency.
“This raises serious questions about legislative overreach and an erosion of the doctrine of separation of powers, a cornerstone of Nigeria’s constitutional democracy.”
Odukale maintained that the NIA was committed to lawful and constructive engagement with all arms of government, provided that such engagement respects the autonomy of statutory regulators and the boundaries established by the Constitution.
“The NIA will continue to provide its full support to all member companies while upholding the principles of legal compliance and sector-wide integrity,” Odukale concluded.
17 of the companies that went to court were represented by their lawyer, Mr Abimbola Kayode, at the meeting with the committee.
News
Horn of Africa Leaders Seek Enhanced Digital Integration for Increased Regional Growth

Finance ministers and development partners from the Horn of Africa have called for enhanced digital integration to boost trade, drive economic growth and promote regional stability during the 25th Ministerial Meeting of the Horn of Africa Initiative (HoAI).
Held in Nairobi, on July 14, the meeting was co-chaired by the African Development Bank’s Vice President for Regional Development, Integration and Business Delivery, Nnenna Nwabufo and Somalia’s Minister of Finance, Bihi Iman Egeh. Discussions underscored the critical role of digital integration in reducing trade barriers, boosting government service delivery and creating employment — particularly for the region’s youth.
“Digital technologies are shaping today’s economy and tomorrow’s industries. By embedding these technologies into our programs, we can not only improve inclusion but also leapfrog outdated development models,” said Nwabufo.
She called for digital integration a “central enabler” in each of the Horn of Africa Initiative’s pillars – trade, infrastructure, resilience, and human capital,
Learning through experience
Drawing from global and regional success stories, speakers highlighted the transformative potential of technology-led development. The ministers pointed to the Philippines as a strong example, where ICT has generated millions of jobs in business process outsourcing. Similarly, Kenya’s fintech innovation—especially the success of M-PESA—was cited as a model for scaling digital financial services across the region.
Participants urged governments to proactively foster digital ecosystems by capitalizing on the demographic dividend, identifying infrastructure upgrades, tighter regulatory reforms, and digital skills trainings as priorities to enable broader participation in the digital economy.
Minister Egeh reiterated the need for more coordinated regional efforts to create the enabling environment required for accelerated digital integration and expansion. He referenced the HoAI Digital Policy Matrix, adopted in 2023 which provides a blueprint on how to address key obstacles to achieving effective digital integration across the region.
Barack Makokha, Kenya’s Cabinet Secretary for National Treasury, underscored the importance of regionally-aligned public private partnerships and advocated for blended financing to reduce investment risk and expand digital access in underserved areas.
World Bank Vice President for Eastern and Southern Africa, Ndiame Diop, called for a comprehensive multi-pronged approach, combining cross-border coordination, large-scale financing, robust policy support, and digital infrastructure investments. He pointed out that such measures could transform digital integration into, “a powerful engine of economic transformation” for the Horn of Africa—ensuring no one is left behind in the digital era.
The meeting concluded with a shared recognition that sustained political will and the determination to implement a multifaceted approach are essential to unlocking the region’s economic potential and driving long-term growth.
The event also welcomed observers from the East African Community, Agence française de développement, and Shelter Afrique, reflecting strong regional and international backing for the HoAI in the development community.
News
CSCS Inaugurates Custodian Portal to Enhance Digital Access, Operational Efficiency

Central Securities Clearing System Plc (CSCS), Nigeria’s capital market infrastructure provider, has launched its Custodian Portal, a user-centric digital solution designed to optimise custodian operations through intuitive, secure and efficient features.
Haruna Jalo-Waziri, Chief Executive Officer (CEO), CSCS, announced this in a statement on Monday.
The CSCS is a Public Limited Company with a diversified shareholder base, which serves as the Central Securities Depository for the Nigerian Capital Market.
It serves as the Central Depository for Equities, Commercial Papers, Corporate Bonds, Sub-National Bonds, certain Sovereign Bonds like the FGN Sukuk and the FGN Savings Bond, Equity-traded Funds, Real Estate Investment Trusts, Mutual funds and Commodities.
Jalo-Waziri said that the custodian portal offered a streamlined experience for market participants with powerful tools that facilitate comprehensive portfolio and trade management, document tracking, share transfer operations, client symbol search, and real-time access to vital data.
He explained that the portal, designed to operate through a flexible subscription-based model, empowered users to manage their records effortlessly and securely through convenient payment channels such as GTPay and Paystack.
According to him, “Digital transformation remains at the core of our strategy to enhance the efficiency, transparency and accessibility of Nigeria’s capital market services.
“The custodian portal is a significant leap in that direction, offering custodians a centralised platform to manage critical processes in real-time.
“We are excited about the value this innovation brings to our stakeholders, and we will continue to evolve the platform in line with users’ needs and industry trends.”
The CEO also explained that the portal was designed with user experience in mind with feature tools like portfolio viewing and downloads in PDF or Excel format.
He further said that it also featured tracking of stock movements across date ranges, inbox messaging and request tracking, as well as robust user management capabilities including role assignment and status tracking.
Similarly, the Divisional Head, Business Technology and Digital Innovation, CSCS Plc, Tobe Nnadozie, said that the portal aligned with CSCS’s drive to automate the market.
“In addition to the normal features, the platform is a part of an omnichannel platform for custodians, and includes API services.
“It also connects to the market-wide workflow, which CSCS has built to ensure secured communication and approvals across all major stakeholders in the market.
“The platform is well secured with best-of-breed cybersecurity solutions and our SOC,” he said.
The Custodian Portal reinforces CSCS’s commitment to leveraging technology to streamline back-office functions and support a more agile, data-driven capital market ecosystem.
All custodians in the Nigerian capital market have now been successfully on-boarded on the Custodian Portal, marking a significant milestone in CSCS’s ongoing drive to enhance collaboration, standardise operational processes, and promote digital adoption across the market.
- E-Financial3 days ago
UBA’s LEO Becomes Africa’s First Chatbot to Enable Cross-Border Payments
- News3 days ago
UN Appoints Sa’id, Nigerian to Nuclear Panel
- E-Business3 days ago
NIMC Enrolls 122m for NIN, Cuts Extortion by 40 Percent
- Telecom2 days ago
MTN Nigeria Rewards 1,500+ Winners with ₦290m in Mega Billion Promo
- Telecom3 days ago
MTN Urges Nigerian to Regards Telecom Infrastructure as National Assets
- General News3 days ago
Appeal Court Nullifies Registration of ‘KPMG Professional Services’
- E-Financial2 days ago
Naira Slides Again, Hits ₦1,532.34/$ Despite CBN’s Dollar Push
- Telecom3 days ago
Bitget Launches $6M Global Crypto Trading Contest with New Competitive Segments