Stanbic IBTC Partners NCF On Tree Planting To Support Nigeria’s Green Recovery

By Grace Samuel

Stanbic IBTC has declared its support for Green Recovery of Nigeria (GRN) programme as it launched the planting of 30,000 trees in partnership with Nigerian Conservation Foundation (NCF).

The inaugural tree planting ceremony held at the Lekki Conservation Centre (LCC) was led by the Chief Executive of Stanbic IBTC Holdings, Dr. Demola Sogunle who was accompanied by the Banks Head of Sustainability, Risks and Capital Management, Mrs Tosin Leye-Odeyemi.

Mr. Sogunle emphasised that the tree-planting exercise is an initiative that aligns with Stanbic IBTC’s core values.

He explained that the bank’s core values is predicated on profound commitment to creating positive social, environmental, and economic impact in the society.

According to him, the tree planting initiative was aimed at elevating Nigeria’s forest cover from its current meager 5% to 25% of national land cover by 2050, as recommended by the Food and Agriculture Organisation (FAO).

Mr. Sogunle assured that Stanbic IBTC would complete the ambitious tree planting program with the target of 3,000 trees in each of 10 states in Nigeria.

He listed the beneficiary states as Edo, Ogun, Katsina, Ebonyi, Plateau, Rivers, Cross River, Taraba, Jigawa, and Yobe.

Mr. Sogunle who gave assurance that the Bank is doing much more on social investment, noted that the tree planting drive is the first of many environmental initiatives, going forward.

He said Stanbic IBTC remains steadfast in addressing climate change issues and creating a hospitable environment for all Nigerians.

In his remarks, the Director General of the Nigerian Conservation Foundation (NCF)
Dr. Joseph Onoja, commended Stanbic IBTC for taking a bold initiative on environmental sustainability.

He urged members of the public and corporate entities in Nigeria to emulate the exemplary intervention of Stabic IBTC in mitigating adverse effects of climate change in the country.