Ecobank Nigeria has announced the successful removal of over two million plastic bottles in exchange for cash from the street of Lagos. The campaign which started in May targets to remove at least 4 million bottles from the environment being part of the bank’s environmental sustainability campaign. Ecobank had in May informed Lagos residents to exchange plastic bottles for cash at designated location across the state.
Commenting on the initiative and success achieved so far, the Managing Director, Ecobank Nigeria, Patrick Akinwuntan stated that Ecobank is committed to support the sustenance of the environment by assisting in the removal of all non-biodegradable elements as part of the universal call to action to end poverty, protect the planet and ensure that all people enjoy peace and prosperity.
“So far we have succeeded in removing over two million bottles from the streets of Lagos. We hope to get to the 4 million target we set for ourselves within the next few months. We are grateful to our partners who have been consistent in their push to achieve this target. I use this opportunity to renew the call on residents to take their used plastics to the Lagos sewage treatment plant in Amuwo Odofin and get cash instantly. Plastic waste is seriously affecting our food, oceans, harming marine life and threatening our food chain. As a responsible corporate organisation, we will do all it takes to check the trend to ensure a safer living environment.” He stated.
Further, Mr Akinwuntan reiterated that “the initiative was part of a deliberate policy of the bank to support environmental sustainability for all. Our sustainability activities are part of the universal call to action to end poverty, protect the planet and ensure that all people enjoy peace and prosperity. The idea for this is to support the removal of non-biodegradable materials from the environment to support healthy and safe living”.
Also speaking, Biyi Olagbami, Executive Director and Chief Risk Officer of Ecobank Nigeria, who is also the coordinator of the “Cash for Plastic” initiative reiterated that Ecobank is optimistic that the projects would go a long way to improving the life of residents by supporting the removal of plastic that usually clog the water channels and cause flooding part of Lagos. “We appreciate the response we are getting from residents and we hope to sustain this effort in assisting to clean our environment. We may extend this initiative to other major cities in Nigeria in the future” he stated.
The Plastic waste for Cash initiative is being implemented in collaboration with the Lagos State Ministry of Environment and Alkem Nigeria Ltd. It is aimed at improving the environmental sustainability and community health development in Lagos by rewarding residents for every plastic bottle picked from the street. The collectors are incentivized with N30 for every kilogram plastic bottle picked.
About Ecobank Nigeria Limited
Incorporated as a public limited liability company on October 7, 1986, Ecobank Nigeria Ltd is a subsidiary of Africa’s leading independent banking group, Ecobank Transnational Incorporated (ETI). The Group employs 15,930 people in 40 different countries in over 940 branches and offices. Ecobank is a full-service bank providing wholesale, retail, investment and transaction banking services and products to governments, financial institutions, multinationals, international organizations, medium, small and micro businesses and individuals.
With a larger African footprint than any other bank in the world operating in West, Central, East and Southern Africa, Ecobank is the only bank that spans 36 African countries yet operates a truly integrated African network. That is One unified integrated Ecobank Mobile Banking App, that works seamlessly across all 33 operating countries in Africa; One Ecobank Omni and Omnilite serving all Multinationals and SMEs in Africa; One Rapidtransfer app that breaks down country borders and allows the diaspora community send money directly to their loved ones, instantly and affordably across Africa; One Ecobank Online Banking platform that you can access easily whether you are in Abuja or Kinshasha.
Ecobank’s unique and largest pan-African platform is designed to help unlock the opportunities of the continent, for the continent, through standardization, fuelling regional integration, and trade and investment across borders.
Due to Ecobank’s sterling performance, it has been severally recognized; Most recently as ‘Best Retail Bank in Africa 2019’ at African Banker Awards; Most Admired Financial Services Brand in Africa 2019 by Brand Africa 100; Best Digital Bank in Africa – 2017 by Euromoney Awards; Best Retail Bank and Innovation in Banking both in 2018 by the African Banker Awards.
In November 2013, the Central Bank of Nigeria designated Ecobank Nigeria as systemically important to the economy.
