E-Financial
Stanbic IBTC Moves to Achieve Net-zero Emission
Stanbic IBTC Holdings PLC, a member of Standard Bank Group, said it has commenced initiatives to achieve net zero emissions as the bank commits to facilitating a better and more sustainable future for all.
This was contained in a sustainability webinar tagged “Working Towards Net Zero Emissions”, organised by the Group on Monday.
Delivering his opening remark at the event, Dr. Demola Sogunle, Chief Executive, Stanbic IBTC Holdings PLC said: “We all cannot continue to ignore our responsibility in the current changes to the climate.
“Through small adjustments leading to a more conscientious and sustainable lifestyle, each one of us can take part in the global climate protection project.
“As reflected in one of our strategic value drivers SEE (Social, Environmental and Economic) Impact, Stanbic IBTC is focused on ensuring it does business responsibly whilst positively impacting the society and environment where we operate.
“As such, the 2021 Stanbic IBTC Sustainability Week is an opportunity for us to advance awareness around practical steps we are taking, and more which we can take, to make our world a better place.”
The webinar featured seasoned experts including Temesoye Jack, Group Head, Sales, Banks, Gas Stations and SMEs, Starsight Energy; Professor Kenneth Amaeshi, Chair in Sustainable Finance and Governance at the European University Institute (EUI) and Oluwasegun Olajuwan, Group Chief Executive Officer, THLD Group.
Temesoye Jack stated that renewable energy sources like solar energy can help countries attain net zero emissions. She said: “Solar energy can help us move towards reducing greenhouse emissions. We need to have more energy efficient offices nationwide. However, this shift will not happen overnight as it is a gradual process.”
She explained that Nigeria has barely scratched the surface when it comes to renewable energy and emphasised that sustainable practices do not have to end in the office but must be observed in all areas of the country
Prof. Kenneth Amaeshi highlighted the importance of harmonising technology upgrades and sustainable growth to reduce carbon emissions. He explained that sustainability at the global level is targeted at mitigating the adverse effects of climate change.
According to Prof. Kenneth, “From recent surveys, it is clear individuals are ready to go green. The affordability of clean energy will determine if we will be able to reduce carbon emissions.”
Speaking on practical steps that can be adopted to help in achieving net zero emissions, Oluwasegun Olajuwan, Group Chief Executive Officer, THLD Group, said “Autogas has been around for 40 years, and Nigeria is not fully embracing it. It is safer, cleaner and more cost effective than fossil fuel and diesel.
Vehicle conversion from fuel to Autogas is affordable. CNG (Compressed Natural Gas) is more efficient than fuel. The use of CNG in vehicles mitigates the emission of nitrous oxide and hydrocarbons by 40% and 90% respectively, compared to petrol.”
Omolola Fashesin, Head of Sustainability at Stanbic IBTC, thanked the panellists for the informative session, which helped create awareness of alternative sources that can help reduce carbon emissions. She urged the participants to apply learnings from the webinar to take practical steps to reduce their carbon footprint.
Finally, in his closing remarks, Kunle Adedeji, Executive Director Finance and Value Management stated that “at Stanbic IBTC, we are committed to facilitating a better and more sustainable future for all.
“We have already commenced various workstreams that will help us on the journey towards Net Zero emissions.
“Some of these include understanding our energy sources, consumption patterns and possible areas for efficiency; adoption of cleaner energy sources in our office locations (leveraging Autogas and Solar energy solutions); and adoption of Tree Planting programs which will help us with carbon sequestration.”
Mr. Samuel Agbeluyi, the President of the Chartered Institute of Taxation of Nigeria, has charged incoming tax professionals to see their roles as critical to shaping Nigeria’s fiscal policies and building a more efficient tax system.
Agbeluyi gave the charge on Tuesday at the opening of the April 2025 Pre-Induction Orientation Programme held in Abuja.
While addressing participants, the CITN President said the orientation marked not just a personal achievement for inductees but the beginning of a greater national responsibility.
According to him, “Ultimately, it is expected that at the end of this programme and the induction thereafter, the number of tax professionals in the roll call of the CITN and indeed Nigeria would grow.
“Most importantly, more professionals would be added to the struggle of building an efficient and effective tax system in Nigeria, whilst influencing government fiscal policies and adding immense value to various stakeholders.”
Agbeluyi stated that the institute’s charter empowers it to determine the standard of knowledge and skills required to become a professional in the field, adding that the training was a deliberate step towards producing competent tax administrators capable of delivering value in the Nigerian economy.
He also noted that facilitators had been carefully selected from among experienced tax professionals and administrators to guide inductees using practical scenarios.
In her remarks, the Deputy Director of the CITN Tax Academy, Mrs Yetunde Suleiman, said the training was designed to expose participants to key developments in national and international tax administration, as well as emerging issues in the digital economy.
She noted that taxation remained central to Nigeria’s economic development and urged the inductees to take their training seriously in light of growing challenges in the country’s tax system, such as evasion, ambiguity of laws and high compliance costs.
Suleiman said, “There is a continuous need to produce, train and unleash qualified tax professionals to tackle these hydra-headed tax challenges.”
She urged participants to approach the sessions with enthusiasm, noting that the knowledge acquired would prepare them to become ambassadors of the institute and sound professionals equipped to drive reform in the tax space.
Union Bank has again demonstrated its commitment to youth development and quality education by sponsoring the 11th edition of the Greensprings Football Academy.
L-R: Bukola Ayeni, Lead External Communications, Union Bank of Nigeria; West Bromwich Albion Football Club coaches; Mrs Lai Koiki, Founder and CEO, Greensprings School and participants of the 11th Greensprings Football Camp sponsored by Union Bank of Nigeria under its Edu360 initiative at the school’s Awoyaya campus in Lekki, Lagos recently.
The five-day training camp, held from April 13 to April 17, 2025, at the School’s Lekki campus, catered to children aged 5 to 17.
Participants received expert coaching from top international coaches affiliated with the West Bromwich Albion Football Club, Dutch Football Association and the English Football League (EFL), alongside support from coaches from the Lagos State Football Association and Nigerian football legend Victor Ikpeba, “The Prince of Monaco.”
The closing ceremony, held on April 17, 2025, was graced by notable guests from the football community, including Lagos State FA Chairman Laimeed Gafar with Samuel Jake Whitmore, Jordan Hall and Owen Jones, West Bromwich Albion coaches.
During the closing ceremony, Bukola Ayeni, Lead External Communications, Union Bank of Nigeria, stated, “Union Bank is a sponsor in the Greenspring Football Academy under our Edu360 initiative, which aligns with one of our core values of being Community Focused.
Edu360 is the Bank’s initiative to promote quality education, whether formal or informal, which includes sports and supports SDG 4 on Quality Education.
With 108 years of legacy of being Nigeria’s most reliable and trusted partner, the Bank’s Edu360 Initiative demonstrates our unwavering commitment to investing in the leaders of today and tomorrow.”
Mrs Lai Koiki, the Founder and CEO of Greensprings School, mentioned, “We are being future-ready, we are preparing the youth for the future for football and leadership.”
Victor Ikpeba lauded the school’s effort and sponsors, stating, “This is a school that empowers boys and girls in education, especially football.”
The Greensprings Football Academy has a proven record of producing professional players, with some graduates playing for the Under-17 National Team of Nigeria.
This year, the top students, Alabi Aliami and Ayodeji Boluwatife, were awarded additional virtual training sessions with the coaches, amongst other benefits.
The success of the Greensprings Football Academy underscores the unifying power of football across cultures and nations.
Union Bank remains dedicated to fostering youth development and quality education through initiatives like the GreenSprings Football Academy.
Debt Management Office (DMO) has announced the reopening of two Federal Government of Nigeria (FGN) bonds for public auction, with a total value of N350 billion, offering units at a subscription price of N1,000 each.
The savings bonds are designed for retail investors and come with guaranteed quarterly interest payments and full repayment of the principal at maturity.
According to a statement released on Wednesday, April 23, the auction is scheduled for April 28, with settlement on April 30. The bond offers will be issued in two tranches. The first tranche comprises a N200 billion five-year bond due to mature in April 2029 with an annual interest rate of 19.3 percent. The second tranche is a N150 billion nine-year bond set to mature in May 2033, carrying an annual interest rate of 19.89 percent.
Each bond unit is priced at N1,000, with a minimum subscription of N50,001,000 and subsequent subscriptions in multiples of N1,000. For these reopened issues, where the coupon rates are already fixed, successful bidders will pay an amount corresponding to the yield-to-maturity that clears the auction volume, in addition to any accrued interest on the bond.
Interest payments will be made semi-annually, with the full principal repaid in a single bullet payment at maturity. The DMO emphasized that these savings bonds qualify as government securities under the Trustee Investment Act and are recognized for tax exemptions under both the Company Income Tax Act (CITA) and the Personal Income Tax Act (PIA), making them attractive for pension funds and other institutional investors.
The bonds are also listed on the Nigerian Exchange Limited and the FMDQ OTC Securities Exchange and qualify as liquid assets for liquidity ratio calculations for banks. Backed by the full faith and credit of the Federal Government of Nigeria, the bonds are secured against the nation’s general assets.
The DMO encouraged interested investors to contact any of the designated Primary Dealer Market Makers (PDMMs) to participate in the auction. This initiative follows a similar reopening of FGN bonds worth N300 billion in March.
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