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Coca-Cola Foundation Pledges To Boost Environmental Sustainability, Partners Recycles Pay And Clean Up Naija
The Coca-Cola Foundation has awarded grants to the Africa Clean Up Initiative, pioneers of the famous Recycles Pay and Clean-Up Naija project.
This is in line with Coca-Cola’s commitment to fostering a World Without Waste, as these grants are aimed at bolstering efforts to reduce waste created by food and beverage packaging waste and other non-biodegradable substances.
The financial grants will help fund the expansion of the Recycles Pay project, which had immense success in the pilot phase, as well as the Clean Up Naija initiative.
This Recycles Pay is a remarkable program targeted at low-tuition schools, in which parents have the opportunity to pay their ward’s fees with plastic bottles. It is an initiative created to provide solutions to educational and environmental issues in rural areas of Nigeria.
To help increase the capacity of the project, The Coca-Cola Foundation awarded grants towards ensuring that a minimum of 20 new schools are reached across multiple states with about 2,000 children kept in school through this initiative.
The Recycles Pay Educational Project launched on February 7, 2020, at Isrina Schools, Ajegunle, Lagos with excited parents and teachers in attendance.
The second project, Clean Up Naija, is community-led and will be carried out across multiple states in a bid to deliver a clean and healthy environment.
The initiative seeks to get volunteers to help clean-up communities to foment a cleaner and more sustainable environment. African Clean Up Initiative, with the support of The Coca-Cola Foundation grant, targets to achieve 20 cleanup events across Nigeria within the calendar year. The series of cleanups are poised to kick off on February 22 at Obalende- Lagos.
Extending his gratitude to The Coca-Cola Foundation for the grants awarded, Alexander Akhigbe, founder of the African Clean Up Initiative, said: “I would like to thank The Coca-Cola Foundation for awarding us with these incredible grants.
“To be noticed by them shows that we have done important work so far. These grants will no doubt prove useful in increasing our capacity as an organisation and helping us impact more lives through our projects.”
Speaking on the grants awarded, Nwamaka Onyemelukwe, public Affairs, Communications & Sustainability Manager Coca-Cola Nigeria; remarked on the company’s efforts at creating shared opportunities in communities where they do business.
“The Coca-Cola Foundation is delighted to partner with The African Clean Up Initiative to upscale the Recycles pay and Cleanup Naija projects.
“This is an important partnership for underserved communities – ensuring children from underprivileged homes remain in school and identifying new ways to prevent plastic waste from littering our environment and entering our rivers and oceans.
“The World Without Waste strategy of The Coca-Cola Company and The Foundation’s focus on recycling and behavioural-change projects highlight the need for greater collaboration between business, governments, charitable organizations, researchers and NGOs to make this happen. We believe projects such as the Recycles pay and Clean-up Naija programs are a real and effective means of working together to deliver real change around the world.”
Hon. Aboluwodi Solomon, educational secretary, Akeromi-Ifelodun L.G.A, lauded the Recycles Pay initiative and praised The Coca-Cola Foundation for supporting it: “I am very delighted to see the smiles on these parents’ faces. You can tell that their lives have been impacted and that makes me very happy.
“I would also like to thank Coca-Cola for supporting this project, this initiative is an important and innovative one and their support means many more many children can get access to education while also ensuring that our environment is being rid of plastic waste.”
He further stated that this ties into the Lagos State Blue box programme and gave his commitment to ensure that more schools in Ajeromi Ifelodun Local Government join this noble initiative.
One of the recipients, Patience Onukwu, expressed her gratitude to the African Clean Up Initiative and Coca-Cola. According to her, the Recycles Pay program has given her and her kids a new lease on life: “When I heard of Recycles Pay and what it was about, I could not believe it.
“Using plastic to pay your child’s school fees? I thought it was a lie until I decided to try my hand.
“Today all my 3 children’s school fees are paid from plastic packaging waste proceeds. Recyclepays program has changed my life and that of my children for the better and I cannot thank the organisers enough.” she said.
Since its launch in 1984, The Coca-Cola Foundation offers community support programs that have led to the improvement of the quality of life of the communities around the World.
Driven by a need to create a better-shared future for the communities we live and work in, The Coca-Cola Foundation has contributed more than $1 billion to help protect the environment, promote recycling, empower women and enhance communities around the world.
The Export-Import Bank of the United States (EXIM) has signed a memorandum of understanding (MOU) with the Nigerian Export-Import Bank (NEXIM) that will deepen collaboration and trade ties between the United States and Nigeria.
The agreement was signed by Exim President and Chair, Reta Jo Lewis, on behalf of Export Import Bank of United states, while Abba Bello, Managing Director/ Chief Executive of NEXIM signed on behalf of the Nigerian Export-Import Bank.
During the signing ceremony, EXIM President and Chair, Reta Jo Lewis, highlights increased opportunities for U.S. exports to Nigeria in critical minerals, clean energy, aviation and infrastructure.
Also, NEXIM MD/CE, Abba Bello, highlights that the partnership is a significant milestone for Nigeria and the US that will provide increased access to trade financing for Nigerian businesses whilst facilitating smoother and more robust mutually beneficial trade flows between the two countries.
The MOU demonstrates a shared desire to identify and promote trade and economic cooperation between the two countries, especially in sectors like clean energy, critical minerals, aviation, maritime transport, digital connectivity, and infrastructure, amongst others.
“Nigeria is the second largest U.S. export destination in Sub-Saharan Africa, but there is so much opportunity to grow,” said Chair Lewis.
“This MOU with NEXIM sends a strong market signal to Nigeria that EXIM is eager to forge a stronger commercial relationship by supporting U.S. exports in key sectors.”
The MD/CE NEXIM in his own remarks noted that, “This collaboration marks a significant milestone in our efforts to strengthen trade ties between Nigeria and the United States.
We are confident that this partnership will open new avenues for economic growth and development”. The MOU, signed virtually marks a significant milestone for the United States and Nigeria.
The MOU will enhance the competitiveness of companies in both nations and strengthen collaboration by exploring options for utilizing EXIM’s medium- and long-term loan guarantees and/or direct loans to finance U.S. exports to Nigeria.
This MOU contributes directly to EXIM’s Sub-Saharan Africa mandate. Over the past three years, EXIM has approved approximately $4 billion of authorizations in support of U.S. exports to sub-Saharan Africa.
The Export-Import Bank of the United States (EXIM) is the nation’s official export credit agency with the mission of supporting American jobs by facilitating U.S. exports.
To advance American competitiveness and assist U.S. businesses as they compete for global sales, EXIM offers financing including credit insurance, working capital guarantees, loan guarantees, and direct loans.
As an independent federal agency, EXIM contributes to U.S. economic growth by supporting tens of thousands of jobs in exporting businesses and their supply chains across the United States.
Economic and Financial Crimes Commission (EFCC) has filed a 13-count charge of N12.3 billion fraud against Chief Oba Otudeko, chairman, Honeywell Group, and Stephen Olabisi Onasanya, the former managing director, First Bank of Nigeria (FBN).
Chief Oba Otudeko, chairman, Honeywell Group, and Stephen Olabisi Onasanya, former managing director, First Bank
The charges were filed at the Federal High Court in Lagos.
They are joined by Soji Akintayo, a former board member of Honeywell, and Anchorage Leisure Limited, a company linked to Otudeko.
The four defendants are accused of orchestrating a fraudulent scheme involving the diversion of N12.3 billion from First Bank, with the fraudulent activities allegedly occurring between 2013 and 2014.
The charges against them include claims that they unlawfully obtained funds in multiple transactions, including N5.2 billion, N6.2 billion, N6.15 billion, N1.5 billion, and N500 million.
These funds were allegedly obtained under the false pretence of credit facilities for V-Tech Dynamic Links Limited and Stallion Nigeria Limited.
The EFCC further alleged that the defendants falsified documents to mislead First Bank into processing these transactions.
In the first charge, the defendants were accused of conspiring to fraudulently obtain N12.3 billion from First Bank, misrepresenting that it was for V-Tech Dynamic Links Limited and Stallion Nigeria Limited, despite knowing the information to be false.
In the second charge, they allegedly obtained N5.2 billion from First Bank on November 26, 2013, by falsely claiming it was for V-Tech Dynamic Links Limited.
Between 2013 and 2014, the defendants are accused of obtaining N6.2 billion from First Bank, falsely claiming it was for Stallion Nigeria Limited.
The EFCC also alleged that, on or about September 3, 2013, the defendants forged documents, including a “Letter of Application” to deceive First Bank into believing that the documents were from V-Tech Dynamic Links Limited.
In a similar manner, they were accused of forging a document titled “Authorization to Issue Investment Certificate to First Bank” with the intent to mislead the bank.
Additionally, the charges included accusations that the defendants procured the transfer of N6.2 billion from Stallion Nigeria Limited’s account at First Bank to conceal fraudulent activities.
On December 11, 2013, the defendants allegedly facilitated a transfer of N2.09 billion from Stallion Nigeria Limited’s account to Emmerado Logistics Limited as part of the fraudulent scheme.
Alos, Chief Otudeko is accused of failing to declare a personal interest in a loan facility of N6.15 billion sought by V-Tech Dynamic Links Limited, in breach of banking regulations.
The charges are based on violations of the Advance Fee Fraud and Other Fraud Related Offences Act 2006, the Miscellaneous Offences Act, the Money Laundering (Prohibition) Act 2011, and the Banks and Other Financial Institutions Act 2004.
The four defendants are expected to face serious legal consequences if found guilty.
The case is set to proceed on January 20, 2025, and could set an important precedent in the fight against financial fraud in Nigeria’s banking sector.
TikTok plans to shut U.S. operations of its social media app used by 170 million Americans on Sunday, when a federal ban is set to take effect, barring a last-minute reprieve, people familiar with the matter said.
The Washington Post reported President-elect Donald Trump, whose term begins a day after a ban would start, is considering issuing an executive order to suspend enforcement of a shutdown for 60 to 90 days. The report did not say how Trump could legally do so.
Users who have downloaded TikTok would theoretically still be able to use the app, except that the law also bars U.S. companies starting Sunday from providing services to enable the distribution, maintenance, or updating of it.
The Trump transition team did not have an immediate comment. Trump has said he should have time after taking office to pursue a “political resolution” of the issue.
“TikTok itself is a fantastic platform,” Trump’s incoming national security adviser Mike Waltz told Fox News on Wednesday. “We’re going to find a way to preserve it but protect people’s data.”
The New York Times separately reported that Tiktok CEO has been extended an invitation to attend the President-elect’s inaugration and sit in “a position of honor”.
A White House official told Reuters Wednesday President Joe Biden has no plans to intervene to block a ban in his final days in office if the Supreme Court fails to act and added Biden is legally unable to intervene absent a credible plan from ByteDance to divest TikTok.
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