By Modupe Gbadeyanka

Union Bank of Nigeria has again stressed the importance of education to the nation, saying it is a strategic investment and not a social obligation.

The Chief Brand and Marketing Officer of Union Bank, Ms Olufunmilola Aluko, said this is why the company continues to throw its full weight behind quality educational programmes.

According to her, education is central to the financial institution’s purpose rather than a peripheral cause.

She was speaking in respect to the bank’s partnership with Nigerian Breweries Plc and the Felix Ohiwerei Education Trust Fund for the organisation of the 12th Maltina Teacher of the Year Competition.

The flag off of this year’s programme was held in Lagos on Monday, and it is the third consecutive year Union Bank has served as a partner.

“At Union Bank, we believe education is not a social obligation. It is a strategic investment. A nation that does not invest in its teachers and its learners is borrowing from its own future, and we are in the business of building futures, not mortgaging them,” Ms Aluko stated.

She pointed to Edu360, the bank’s flagship education initiative under the UnionCares platform, as the practical expression of that conviction.

Edu360 spans the full education value chain, from widening access for children in underserved communities and investing in the teachers who multiply learning outcomes, to building digital literacy and STEM capability, and preparing young people for employment or enterprise.

On the role of the financial sector, Ms Aluko challenged her peers to think differently.

“Financial institutions need to stop thinking of ourselves as donors and start thinking of ourselves as ecosystem builders. We can embed financial literacy into school curricula, design products that help parents save for their children’s education, and convene policymakers, educators and the private sector around shared goals. Above all, we can show up consistently, not only when it suits our brand calendars,” she disclosed.

She noted that lasting change requires sustained collaboration between the public and private sectors, and pointed to the strength of the signal sent when institutions commit to teachers at scale, citing the competition’s N100 million grand prize. With twelve editions and more than three hundred teachers recognised to date, she described MTOTY as a model of the consistency Union Bank embodies through Edu360.

Her closing message was directed at educators across the country, stating, “To every teacher in this country, what you do is not small. Your story deserves to be told, and Nigeria needs to know your name.”

By Adedapo Adesanya

The African Energy Bank (AEB) will now officially launch in September in Abuja after failing to meet its targeted first-half 2026 commencement date, marking a fresh timeline for the continent’s energy financing institution.

The Secretary General of the African Petroleum Producers’ Organisation (APPO), Mr Farid Ghezali, as per Argus Media, acknowledged “several postponements” but said the new deadline is “to make the bank operational in September 2026 in view of the incompressible deadlines from an administrative point of view”.

A planned April start was pushed back to June before APPO members were again mobilised around a third-quarter deadline. At a recent meeting, the Nigerian government reiterated the country’s commitment to the African Energy Bank’s formal commencement of operations.

The bank was established by the APPO and the African Export-Import Bank (Afreximbank) to address the critical financing needs of Africa’s oil, gas and broader energy sectors and mitigate the global funding pressure against hydrocarbon investments in Africa.

The APPO scribe said funding has remained a major challenge even when the Nigerian government said the headquarters of the bank was ready since 2025.

Mr Ghezali called on APPO members to redeem their pledges towards the $500 million start-up capital before the end of June.

Argus quoted sources as saying that 91 per cent of the capital had been raised and that the Nigerian National Petroleum Company (NNPC) Limited and the Nigerian Content Development and Monitoring Board (NCDMB) would make up the balance.

Mr Ghezali said AEB aims to reverse the situation that sees Africa importing more than 60 per cent of its oil products consumption and producing only 12 per cent of global upstream liquids while being home to many of the world’s largest national oil and gas reserves.

He stated that the bank will target the financing of 20–30 LNG, petroleum products pipeline, terminals and refining projects by 2030. Projects that monetise natural gas as a transition fuel will take up 40 per cent of AEB’s loan book, and priority will be given to projects that contribute towards the creation of “500,000 to 1 million direct and indirect jobs in the energy value chain”.

Speaking at a Nigerian energy summit in February, Mr Ghezali said the bank plans to raise $15 billion in its first three years of operations to fund strategic energy projects.

He also unveiled the three-phase road map for the AEB, including “Phase one, which, as I said in the first half of 2026, launches the African Energy Bank platform with 10-pillar projects involving countries such as Nigeria, Angola, and Libya. APPO certification and integration of IOCs such as Shell or ENI.”

“Phase two, in 2027, we plan to start a regional gas-oil trade, integrating the principles of the Bassari Declaration for 15 per cent local content.”

Phase three, reaching 2030, the African Energy Bank will be a true African financial hub, with $200 billion mobilised.”

By Modupe Gbadeyanka

Zenith Bank Plc has joined other global corporations to commemorate the 2026 World Environment Day with a two-phase environmental clean-up initiative in Lagos State.

The financial institution participated in the commemoration under the global theme Inspired by Nature. For Climate. For Our Future through a two-day event.

In the first phase, which was a morning clean-up conducted by staff of the Bank on Wednesday, 3 June 2026, along Ajose Adeogun Street, Victoria Island, Lagos, employees of the lender cleared waste, sensitised residents on proper disposal practices, and reinforced the bank’s culture of community service and environmental stewardship.

The second day, participants engaged in a waterways clean-up at the Falomo Waterways, Ikoyi, Lagos. This was in collaboration with the Lagos Waste Management Authority (LAWMA) and the Lagos State Waterways Authority (LASWA). The joint effort focused on removing marine debris, promoting cleaner waterways, and supporting the state’s broader climate-resilience agenda.

“At Zenith Bank, sustainability is integral to how we operate. Clearing our streets and our waterways is a practical reminder that protecting the environment is a shared responsibility – and one we are proud to take up alongside LAWMA and LASWA.

“Through these exercises, we are taking deliberate action to preserve our communities, support climate action, and inspire others to act. Our operations will continue to align with global environmental standards as we build a more sustainable future for Nigeria and Africa,” the chief executive of Zenith Bank, Ms Adaora Umeoji, stated.

Zenith Bank says it remains committed to embedding Environmental, Social and Governance (ESG) principles across its operations, investing in green initiatives, energy efficiency, and community-focused programmes, in line with its commitment to environmental sustainability and responsible business practices.

These efforts advance the United Nations Sustainable Development Goals – particularly SDG 7 (Affordable and Clean Energy), SDG 11 (Sustainable Cities and Communities) and SDG 13 (Climate Action). Sustainability remains an operational imperative across the Bank’s Nigerian base and its broader African, UK and European footprints.