Green economy: Stanbic Bank plants 30,000 trees

Stanbic IBTC Holdings, a member of the Standard Bank Group, said it was actively supporting the Green Recovery Nigeria (GRN) Programme in collaboration with the Nigerian Conservation Foundation (NCF).

The aim is to elevate Nigeria’s forest cover from its current meager 5% to the recommended 25% of national land cover by 2050, as recommended by the Food and Agriculture Organisation.

The ceremony was held at the Lekki Conservation Centre (LCC), located within the heart of Lagos, and serving as the NCF’s headquarters.

The tree planting ceremony was led by Dr. Demola Sogunle, Chief Executive of Stanbic IBTC Holdings, accompanied by Mrs. Tosin Leye-Odeyemi, Head of Sustainability, Risk, and Capital Management at Stanbic IBTC, among other distinguished guests.

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Sogunle emphasised that the tree-planting initiative aligns with Stanbic IBTC’s core values, which encompass a profound commitment to social, environmental, and economic impact within society.

He assured that Stanbic IBTC would complete the ambitious tree planting program across 10 states of the federation namely- Edo, Ogun, Katsina, Ebonyi, Plateau, Rivers, Cross River, Taraba, Jigawa, and Yobe of Nigeria by the close of 2023, with a target of 3,000 trees in each state.

He said, “We are initiating this tree planting drive as the first of many going forward. Stanbic IBTC remains steadfast in addressing climate change issues and creating a hospitable environment for all Nigerians.”

Director General of the Nigerian Conservation Foundation (NCF), Dr. Joseph Onoja, commended Stanbic IBTC for the initiative, urging other public and corporate entities in Nigeria to follow suit.

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