General
Ecobank Gets Applause for Environment Protection
Ecobank Nigeria’s environmental sustainability initiatives targeted at removing non-biodegradable elements particularly plastic bottles from the streets of Lagos has continued to generate commendation, recognition and goodwill from government officials, corporate organizations and well-meaning individuals.
At the weekend, Ecobank was also presented with the 2019 CSR Marble Award of Excellence at an event organized by a renowned public relations outfit, AS+A Communications in Lagos.
Speaking at the Corporate Social Responsibility (CSR) forum, exhibitions and awards ceremony in Lagos State, the State Commissioner for Information and Strategy, Gbenga Omotosho, said the award for Ecobank was well deserved, stressing that the Bank has demonstrated high degree of consistency in tackling environmental issues and thereby enhancing healthy living across the country.
Specifically, the Commissioner said Ecobank’s current efforts at removing plastic bottles from the streets of Lagos is assisting the government to make the environment safer for people to live, urging other Corporate organizations to emulate the Pan African Bank.
According to him, “We are impressed with what Ecobank is doing in the state ecosystem. Its collaboration with relevant government agencies as part of its CSR initiatives to get rid of used plastic bottles from streets is making the state safer for people to live and do business. I implore other Corporate organizations to partner with us to make the ecosystem safer for habitation.”
Speaking in the same light, President, African Public Relations Association (APRA), Mr. Yomi Badejo-Okusanya commended Ecobank for raising the bar of CSR activities in the protection of the environment. He advised the Bank not to relent in its efforts until a livable environment is achieved.
Managing Director, AS+A Communications, the organisers of the event said Ecobank deserves the award based on its past and current efforts in the protection of the environment. According to her, “annually, we recognize and honour socially responsible personalities and institutions of high esteem in areas of national development and most especially their land mark achievements in the area of human capacity development as well as other social and environmental development initiatives. Ecobank fit this description. We salute the bank’s initiatives and we believe this award would further spur them to do better in helping humanity.”
Responding, the Managing Director, Ecobank Nigeria, Patrick Akinwuntan, said the award validates the positive impact of Ecobank’s CSR strategy, noting that the award further reinforces the bank’s determination to support in the protection of the ecosystem.
According to him, it is a deliberate policy of Ecobank Nigeria to embark on sustainable projects that impact people and the environment. He noted that in May this year, Ecobank informed Lagos residents to exchange plastic bottles for cash at designated locations across the state.
The collectors are incentivized with N30 for every kilogram of plastic bottle collected. The bank he is said had set a target to remove 4 million plastic bottles, and so far, over 2 million plastic bottles have been successfully exchange for cash.
Mr. Akinwuntan also disclosed that a week tagged ‘Ecobank sustainability week’ was set aside in May, during which symposia was organised for secondary schools’ students to create awareness on tackling plastic wastes and other environmental issues amongst other activities that focus on environmental sustainability.
The bank Managing Director dedicated the award to staff and customers of the bank, who he said have worked relentlessly towards maintaining high sustainable standards that has earned them the award. He assured that Ecobank will continue to embark on initiatives that impacts the people, environment and the economy.
By Modupe Gbadeyanka
The Transmission Company of Nigeria (TCN) has confirmed the collapse of five transmission towers along the Ikot Abasi–Eket 132kV Double Circuit Transmission Line.
This was attributed to severe acts of vandalism, as TCN disclosed that the structure collapsed after vandals removed critical structural bracing members.
The affected towers were N9, J4, N10, N11 and N12, the organisation said in a statement on Friday.
It explained that the extensive damage was discovered during a routine joint line patrol conducted on August 9, 2026, by TCN linesmen.
Further inspection revealed that structural members from seven additional towers along the same transmission corridor had also been removed and stolen. The towers, J3, N8, N13, N14, N15, N18 and N19, are now structurally compromised and pose a risk of further collapse.
TCN condemned this act of sabotage and reiterated its commitment to working hard to maintain a robust and reliable national grid.
The statement said that to mitigate the impact on electricity supply, the network has been reconfigured to prioritise supply to Ekim transmission station, leaving Ibom Power as the only station without supply.
TCN said it is mobilising an urgent intervention to complete the reconstruction of the affected sections of the line, with security agencies also notified to aid investigations and prevent further acts of vandalism along the line route.
By Adedapo Adesanya
The Speaker of the House of Representatives, Mr Tajudeen Abbas, has urged all relevant government agencies to promptly initiate actions for the full implementation of the Nigerian Ports Economic Regulatory Agency Act, 2026, following its signing into law by President Bola Tinubu.
The bill, sponsored by Speaker Abbas, was aimed at repealing the Nigerian Shippers’ Council Act, Cap. N133, Laws of the Federation of Nigeria, 2004, and establish the Nigerian Ports Economic Regulatory Agency to ensure effective economic regulation of Nigerian ports while safeguarding the interests of shippers, service providers, and users of regulated port services. With the President’s assent, it has now been enacted as an Act of Parliament.
The legislation represents one of the landmark achievements of the 10th National Assembly. It reflects the Speaker’s commitment to legislative excellence, institutional reform, and sustainable economic growth, according to a press statement by the Special Adviser on Media and Publicity to the Speaker, Mr Musa Krishi.
The bill underwent a rigorous and inclusive legislative process, including extensive stakeholder consultations and a public hearing. It was passed by both Chambers of the National Assembly and subsequently assented to by the President.
The Act provides a robust legal and institutional framework to ensure effective economic regulation of Nigerian ports by fostering transparency, competitiveness, and efficiency in port operations; protecting the rights and interests of shippers, service providers, and other port users; and aligning Nigeria’s port regulatory system with global best practices, thereby enhancing the ease and cost-effectiveness of doing business.
Despite receiving presidential assent, the Act has yet to be fully operationalised.
He warned that any further delay would undermine the legislative intent of the reform, prolong the exposure of port users to arbitrary charges and operational inefficiencies, and deny the nation the anticipated benefits of increased revenue, improved trade facilitation, and stronger investor confidence in the marine and blue economy sector.
The Speaker urged the Federal Ministry of Marine and Blue Economy, in collaboration with all relevant Ministries, Departments and Agencies (MDAs) of the federal government, to take the necessary administrative, institutional, and financial measures for the prompt implementation of the Act.
He said this should include the formal transition to, as well as operational empowerment of, the Nigerian Ports Economic Regulatory Agency to discharge its statutory mandate effectively.
The full implementation of the Act is critical to unlocking the economic potential of Nigeria’s ports, reducing the cost of doing business, strengthening trade competitiveness, and positioning Nigeria as the leading maritime and logistics hub in West and Central Africa.
The statement noted that the Speaker reaffirmed the 10th House’s commitment to exercising the necessary legislative oversight to ensure this landmark legislation, along with others assented to by the President, is fully implemented and achieves its intended goals for the benefit of the Nigerian people.
By Adedapo Adesanya
The Federal Ministry of Youth Development (FMYD), through the Nigerian Youth Academy (NiYA), has partnered with Cascador, a Nigeria-focused platform for growth-stage founders, to provide funding and support for the next generation of Nigerian youth entrepreneurs.
The announcement coincides with International Youth Day 2026, whose global theme this year — Different Contexts, Common Aspirations — calls on institutions to close the gap between young people’s circumstances and their opportunities. The pilot is an early step toward NiYA’s broader ambition to train and empower 7 million Nigerian youth within two years.
The NiYA and Cascador Founders Programme will begin with a pilot cohort of 20 early-stage Nigerian youth founders, including entrepreneurs without formal business registration or established financial records.
Over four weeks, participants will undergo intensive training focused on business fundamentals, investment readiness and pitch preparation. At the end of the programme, the eight top-performing founders will receive non-dilutive funding of up to N5 million each from Cascador, alongside an Enterprise Resource Planning (ERP) solution to help them structure, manage and scale their businesses.
The funding and support will be presented at a Pitch Day organised by NiYA and the Federal Ministry of Youth Development.
The Minister for Youth Development, Mr s Ayodele Olawande, said the partnership would enable NiYA to move beyond training by helping young people transform ideas into investable businesses and achieve sustainable economic participation through business preparation and access to capital.
“The pilot is deliberately designed to test a model that can go beyond one cohort. If young founders can be identified early, prepared properly, connected to credible capital and supported to build stronger business systems, then access to opportunity becomes less dependent on background or existing networks. That is the larger objective: to build a youth entrepreneurship ecosystem in which readiness, ideas and execution can increasingly determine who gets the opportunity to grow.”
The pilot will run in-person in Abuja with virtual touchpoints and 1:1 mentorship. All 20 graduates retain NiYA alumni status, with priority consideration for future opportunities.
NiYA and FMYD have already shown what real commitment to Nigeria’s youth looks like — the platforms, the reach, the ambition to train millions. What we’re building together now is the missing piece, a practical bridge from the ideation stage to real capital-readiness. When a Ministry so dedicated to its young people asked Cascador to help build that bridge, it was an easy decision,” said Trish Thomas, CEO of Cascador.
Ms Oyin Solebo, COO of Cascador and former Managing Director of the ARM Labs Lagos Techstars Accelerator, highlighted the partnership’s impact, saying, “This is what innovative capital deployment looks like: a government building real investment readiness at scale, and a partner meeting that foundational work with non-dilutive funding at exactly the moment it’s needed. Partnerships like this open doors that neither of us could open alone.”
