Sterling Bank on Sunday, announced what it described as a landmark achievement that puts Nigeria at the forefront of the global sustainability movement, saying it’s the first organisation headquarters across Africa to be fully powered by solar energy.

The iconic Sterling Towers, located in the bustling centre of Lagos, it said, now boasts an operation on an advanced solar energy system.

The decisive switch, the bank explained, underscores sterling bank’s dedication to reducing its ecological footprint and spearheading the adoption of renewable energy within the continent.

The Group Chief Marketing Officer at Sterling, Ibidapo Martins: “Our transition to solar energy reflects our deep-seated commitment to responsible corporate behaviour.

“It is a major stride in our quest to exemplify sustainable development in Africa and we are thrilled to be at the vanguard of the renewable energy revolution, hopefully setting a trend for others to emulate.”

Sterling’s initiative, the bank stressed, is a response to the accumulating proof worldwide that eco-friendly buildings deliver comprehensive advantages.

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 Martins highlighted: “This flagship project is not just about setting a record; it’s about showcasing the enormous potential Nigeria holds in transforming Africa’s energy narrative.”

He further elaborated on the scale of the project: “We have installed over 3,250 high-efficiency crystalline silicon photovoltaic glass panels, spanning 6,500 square meters on our 17-story building.

“This is the largest solar integration in Africa to date, and it is expected to generate 10,500 MWh over the next quarter-century while providing 995 kWp to power our headquarters.”

The transition to solar, Sterling said, is anticipated to deliver not only environmental advantages but also substantial economic savings in energy costs, which will be reinvested into customer-centric innovations and services.

In this bold endeavour, Sterling Bank said it is in league with international corporate giants like Apple, IKEA, and Google, who have already demonstrated the economic practicality and environmental benefits of solar energy.

By taking this step, Sterling Bank noted that it asserts itself as a progressive leader in the financial sector, dedicated to sustainable operations.

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“The exclusive use of solar power at Sterling Towers is a game-changer for African corporations in the sustainability domain. It stands as an influential illustration for other companies, proving that economic progress and ecological conservation are compatible pursuits.

“This monumental achievement is a tribute to the ingenuity and leadership potential of African enterprises in green energy adoption, paving the way for a more sustainable global future.

“The completion of this project is a testament to Sterling’s dedication to its HEART strategy, emphasising impactful investment in the sectors of Health, Education, Agriculture, Renewable Energy, and Transportation,” the bank noted.

In recognition of its innovative approach, Sterling Bank said it had been named the Most Innovative Bank of The Year and featured in the Financial Times’ list of top 100 fastest-growing companies in Africa in 2023.

“The bank’s headquarters now stands as a beacon of commercial-scale renewable energy solutions in Nigeria, heralding a new era in the country’s energy landscape,” it added.

Source: Arisetv

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Mr Olatunji Mayaki has been appointed as the Chairman of the board of Sterling Bank Limited, replacing Mr Asue Ighodalo, who intends to become the next Governor of Edo through the Peoples Democratic Party (PDP).

He resigned from the bank from Sunday, December 31, 2023.

A statement signed by the Company Secretary, Ms Temitayo Adegoke, disclosed that the new chairman would assume the role from Monday, January 1, 2024. He assumes the board’s leadership after serving as a non-executive director.

“The resignation of our erstwhile Chairman is in line with the best corporate governance practices as Mr Ighodalo has offered himself for public service,” the statement said.

“Mr Mayaki takes on the leadership of the board to continue the progressive growth and lead the bank onto even greater success,” it added

His extensive background spans the practice of Law with the firm formerly known as Ajumogobia, Okeke, Aluko & Oyebode. He further served as the pioneer Vice President Legal & Compliance of ARM Limited, Country Head of Legal and Group Company Secretary for all Shell Petroleum companies in Nigeria, and Deputy Managing Director of Addax Petroleum Nigeria.

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Mr Mayaki sits on the governing council of a Nigerian private university, Davidson, and a UK-based NGO and charitable organisation, Chestrad, from where he has championed the establishment of several programs in Nigeria to support health systems, social development, women and the girl child.

An alumnus of the prestigious University of Ibadan, as well as Harvard and INSEAD business schools, Mr Mayaki’s background in Law, Finance and Investment and overall career experience further strengthens the bank’s dedication to strong corporate governance.

In recent times, Sterling Bank has enhanced its focus on innovation and digitization, introducing specialized products such as Specta, The Business Hub, OneBank, Qore, Edubanc, HealthBanc, and Omni X, tailored to the unique needs of the Nigerian market.

Furthermore, the Bank has forged a partnership with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to develop the real sector of the Nigerian economy with single-digit low-interest loans to SMEs, starting with a N5 billion scheme.

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Renowned for its now famous HEART of Sterling strategy; which focuses on investments in Health, Education, Agriculture, Renewable Energy and Transportation; the bank featured on the prestigious top 100 fastest growing companies in Africa, as published by Financial Times all in 2023.

With its optimism about Nigeria, irreverent brand voice and enviable talent management practices, Sterling Bank has been the most recognised awardee of the Great Place to Work Institute over the last 5 years and was named earlier this year as the Overall Best Place to Work in Nigeria.

Source: Businesspost

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