LAPO and IITA-CGIAR commence the tree planting project for economic and environmental sustainability

Following LAPO Microfinance Bank‘s previous visit to IITA-CGIAR to seek ways to enhance its Corporate Social Responsibility through tree planting, both parties signed a Memorandum of Understanding (MoU) on 11 September.

The project is an environmental sustainability initiative of the LAPO Microfinance Bank, with IITA Forest Center as the technical implementing partner. Representing LAPO Managing Director Cynthia Ikpownosa, Executive Director Gloria Bako said, “We considered the current challenges we have with climate change and lack of jobs for youths and decided to partner with IITA-CGIAR to implement our environmental sustainability ideas.”

She identified agriculture as a viable alternative to banking on crude oil for foreign exchange in Nigeria. Hence, the project will encourage food and fruit crops planted alongside tree seedlings in an agroforestry model. Brandie Stevens-Igbe, Head of Sustainability at LAPO, said: “LAPO has always been a social development bank that places premium emphasis on staff and client welfare. We are doing this to expand our social responsibility and enrich the quality of our clients’ lives.”

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