Banking
Unity Bank Webinar: Stakeholders Seek Urgent Action on Plastic Pollution
By Aduragbemi Omiyale
The need for urgent and coordinated action to tackle Nigeria’s growing plastic pollution crisis has been called by environmental activists and climate change advocates.
This demand was made at a webinar hosted by the Sustainability Team of Unity Bank Plc in commemoration of this year’s World Environment Day themed Ending Plastic Pollution.
Stakeholders at the event described the country’s plastic pollution challenges as one of the greatest environmental threats.
The webinar, put together to fashion out innovative strategies to curb plastic pollution in Nigeria, had in attendance leading waste management entrepreneurs and environmental activists such as the co-founder/CEO of PETsPoint Recycling Nigeria, Mr Sunday Kolawole Sholanke; and the co-founder/CEO of Street Waste Company Limited, Omoh Alokwe.
The programme offered a platform for robust dialogue around sustainable actions and innovative solutions that can mitigate the escalating threat of plastic pollution and promote environmental protection.
In his presentation, Mr Sholanke decried the alarming volume of plastic waste in Nigeria, putting estimates on the country’s waste generation to about 596 million metric tonnes annually, with 88 per cent of it neither reclaimed nor recycled.
“Nigeria ranks as the 9th highest contributor to global plastic pollution. Much of Nigeria’s plastic waste ends up in landfills, drainage systems, and water bodies, causing extensive environmental damage and posing serious health risks,” he explained.
He also shared startling global statistics: “Over one million plastic bottles and 10 million plastic bags are produced every minute.
“In 2020 alone, eight million tons of plastic bottles were produced globally, with less than 30 per cent collected and under 10 per cent recycled. The rest is dumped, burned, or abandoned in the environment, worsening risks of flooding, climate disruption, and disease.”
He identified poor waste management culture, low public awareness, and lack of community collection infrastructure as major factors aggravating the Nigeria’s plastic waste crisis.
Calling on the financial services sector to be more proactive, Mr Sholanke urged banks to invest in green financing by increasing access to affordable credit for green businesses and eco-friendly initiatives.
Also speaking, Omoh Alokwe emphasized the role of regulators in strengthening enforcement and updating policy frameworks to reduce harmful practices that fuel the global plastic crisis.
Echoing this view was the Head of Strategy and Innovation at Unity Bank, Mr Ibukun Coker, who emphasized the bank’s commitment to sustainable practices and environmental protection, highlighting the role of the financial sector in driving meaningful change.
“Plastic pollution is not just an environmental issue, it is an economic and public health crisis,” said Mr. Coker. “At Unity Bank, we believe that sustainability should be more than a policy; it must be embedded in how we operate, the projects we finance, and the partnerships we build.”
Also, the Executive Director for Risk Management at Unity Bank, Mr Usman Abdulkadir, reaffirmed the lender’s commitment to sustainability, adding that issues like plastic pollution carry deep risk implications for businesses and communities.
“Environmental degradation is increasingly a business risk, not just a corporate social concern,” Mr. Abdulkadir stated. “We must all begin to view environmental stewardship as a duty that cuts across sectors – finance, government, industry, and civil society. Unity Bank remains committed to integrating ESG principles into its risk frameworks and sustainability agenda.”
Unity Bank has consistently championed environmental causes, including its annual Earth Day partnerships with non-profits such as RESWAYE to clean the Royal Beach in Elegushi, Lagos, part of its mission to protect marine ecosystems.
In its most recent Earth Day campaign, the company challenged every staff member across 32 states to plant a tree in their locality, driving a grassroots reforestation movement and reinforcing environmental awareness.
By Aduragbemi Omiyale
A collaboration to enable fast money transfers into Nigeria has been entered into between Flutterwave and Xoom, PayPal’s international digital money transfer service.
The partnership allows Xoom transfers to be converted by Flutterwave and settled locally in Naira, enabling quick transfers directly into recipients’ bank accounts at Access Bank, UBA, Zenith Bank, First Bank, GTBank, and additional participating banks across Nigeria.
The deal also enables Xoom’s global network with Flutterwave’s local payout infrastructure, allowing users globally to send funds directly into Nigerian bank accounts with improved speed and efficiency.
Nigeria is the leading remittance recipient in Sub-Saharan Africa, receiving over $20 billion in personal remittances in 2024. Despite this volume, receiving international payments has historically remained complex due to FX constraints and settlement delays. This collaboration helps address those challenges in a market of more than 232 million people, where the ICT sector is projected to contribute 21 per cent of GDP by 2027.
By combining Xoom’s expansive reach with Flutterwave’s local compliance and banking partnerships, the two companies are providing a more accessible financial corridor for the continent.
Xoom, a PayPal service, is a fast and secure international digital money transfer service that enables consumers to send money, pay bills, and reload phones for friends and family in approximately 160 markets globally.
As part of PayPal’s global payments ecosystem, Xoom leverages advanced fraud protection, compliance capabilities, and a trusted global network to help millions of customers move money quickly and securely across borders.
“We’re excited to have been chosen by Xoom for their Nigeria expansion. Millions of Nigerians rely on money from abroad to support everyday needs, whether it’s families receiving help from loved ones, freelancers getting paid for their work, or individuals earning income from the global economy. This helps make it easy and more reliable for people in Nigeria to receive funds and stay connected to opportunities beyond borders,” the chief executive of Flutterwave, Mr Olugbenga GB Agboola, stated.
By Aduragbemi Omiyale
An initiative known as Nigeria Lightning Rounds, designed to expand funding opportunities for Nigerian startups and small businesses by connecting founders with local and international investors, has been launched by ProvidusUnity Bank, in partnership with US-based global venture firm and accelerator, gener8tor.
Scheduled to be held on July 15, 2026, Nigeria Lightning Rounds will feature carefully selected startups engaging with targeted investors who have expressed interest in supporting Nigerian innovation.
Participating founders will have the opportunity to pitch their businesses through focused 15-minute virtual sessions facilitated by gener8tor and ProvidusUnity Bank’s networks.
The program will focus on high-growth sectors including fintech, healthtech, manufacturing, sustainability, and AI, but welcomes SMEs from all industries, with intending participants urged to apply via https://www.gener8tor.com/lightning-rounds/nigeria.
“We recognise that access to capital remains one of the biggest challenges facing entrepreneurs in Nigeria. Through our partnership with gener8tor, we are creating a platform that connects promising Nigerian founders with investors who can provide the support required to scale their businesses,” the Head of Business Development at ProvidusUnity Bank, Mr Ernest Elue, stated.
“The partnership reinforces ProvidusUnity Bank’s commitment to strengthening Nigeria’s entrepreneurial ecosystem by supporting innovation, enabling access to opportunities, and creating pathways for businesses with high-growth potential,” he added.
Also commenting, the Director of Lightning Rounds at gener8tor, Ms Elizabeth Larios, said, “gener8tor is thrilled to partner with ProvidusUnity Bank to extend the Lightning Rounds model into Nigeria.
“This collaboration reflects our commitment to building equitable ecosystems and driving capital to the most promising and underrepresented entrepreneurs.”
Lightning Rounds are a signature initiative of gener8tor’s investment platform, which has facilitated thousands of investor-startup meetings globally. The format is optimised to eliminate friction, reduce bias in early-stage fundraising, and help founders secure capital from investors aligned with their mission and stage. gener8tor’s previous Lightning Rounds for Nigerian Founders in 2025 featured 18 participating Investors and led to 50 investment meetings facilitated.
By Modupe Gbadeyanka
The verification of the depositors of the 46 microfinance banks, whose operating licenses were revoked by the Central Bank of Nigeria (CBN) over a week ago, has commenced.
The exercise, aimed at refunding those whose funds were trapped in the small lenders, is being conducted by the Nigeria Deposit Insurance Corporation (NDIC).
In a statement on Thursday, the agency said its staff members have been positioned at the offices of the affected banks across the country to attend to depositors.
It was disclosed that depositors of the defunct banks, who had their Bank Verification Numbers (BVNs) linked to their accounts in the failed banks, will be paid through their alternative accounts in existing banks.
However, depositors whose BVNs were not linked to their accounts in the failed banks have been encouraged to visit the affected banks’ offices with proof of account ownership, a passport photograph, verifiable means of identification (Driver’s Licence, Permanent Voter’s Card, International Passport or National ID Card) and BVN.
NDIC also stated that depositors can alternatively file their claims online through its website: www.ndic.gov.ng, to complete the Pre-Verification Claims Form by clicking on the Search Bar, and typing Pre-Verification Claims Form; opening the Form and filling in their details. They can also do so by clicking the link: https://ndic.gov.ng/ndic-pre-verification-claims-form/ or by visiting any of the NDIC offices closest to them to file their claims.
For further enquiries, the corporation can be reached on any of the following lines: 09037273810, 09038197064, 08104220807, 09064657140.
