The new hub, strategically located in Lekki, expands the Foundation’s recycling footprint and builds on the success of 15 existing hubs across Lagos.

Notably, it is the first Sahara Go-Recycling Hub to feature a solar-powered Reverse Vending Machine (RVM), a significant step toward integrating clean energy and technology into community recycling solutions.

The Sahara Go-Recycling initiative promotes a circular economy by reducing waste, enhancing resource recovery, and empowering residents with opportunities to earn income from recyclables.

Speaking at the commissioning, Chidilim Menakaya, director, Sahara Group Foundation, said:

“The launch of the Lekki Go-Recycling Hub goes beyond environmental responsibility, it represents a new path for innovation, economic opportunity, and community resilience. By integrating clean energy solutions like the solar-powered Reverse Vending Machine, we are demonstrating how innovation can strengthen environmental responsibility while improving quality of life. This hub is a testament to what is possible when we combine commitment with action, and it sets the stage for even greater impact across the communities we serve.”

The event was attended by Executive Director of Sahara Group, Director, Downstream Africa, Sahara Group, Sahara Group Foundation Board Trustees, Asharami Synergy Management team, executives and representatives of Sahara Group, Asharami Synergy, Egbin Power Plc, as well as other dignitaries, traditional leaders and community members.

Moroti Adedoyin-Adeyinka, executive director Sahara Group, remarked,

“The success of the Lekki Sahara Go-Recycling Hub is a powerful reminder that sustainable change happens when communities, technology, and purpose come together. This hub is not just collecting recyclables, it is inspiring new habits, creating economic value, and proving that cleaner, greener cities are possible when we all play our part. We are proud of what this hub represents and even more excited about the impact it will continue to make across Lagos and beyond.”

Dr Anthony Youdeowei, Board Trustee, Sahara Group Foundation and MD Sahara Power Group, commended the collaboration between Sahara Group Foundation, Asharami Synergy, the Sahara Group 2025 Graduate Management Trainees, and Eco Barter, describing the hub as reflective of our belief that sustainability must be practical, accessible, and community driven.

Representing the 2025 Sahara Group Graduate Management Trainees, Elushade Oluwatumininu stated that, " As Graduate Management Trainees, being part of the Lekki Go-Recycling Hub project through our PSCR project has been a meaningful way to live out Sahara’s sustainability values. Seeing the hub’s impact from promoting recycling habits to empowering the community, reinforces how small actions can drive real change. We’re proud to be part of this initiative.”

Since its inception, the Sahara Go Recycling Initiative has collected over 650 tonnes of recyclable waste and facilitated payouts exceeding ₦55 million to beneficiaries.

The program has positively impacted more than 1200 households, creating alternative income streams, supporting livelihoods, and reinforcing environmental sustainability.

Rita Idehai, CEO Eco Barter, added:

“Our partnership with the Sahara Group Foundation on the Lekki Go-Recycling Hub demonstrates the power of collaboration in accelerating sustainable change. Together, we are creating a system that rewards responsible disposal, supports local livelihoods, and brings technology-driven recycling closer to the community. We are proud to work with a partner that shares our vision for a cleaner, smarter, and more circular future for Lagos.”

Reiterating Sahara Group Foundation’s vision, Chidilim Menakaya added,

“The Sahara Go Recycling project is creating a ripple effect across Lagos, enabling households and communities to see value in responsible waste management. Through strategic partnerships, we are amplifying impact and building sustainable ecosystems for future generations.”

“At Sahara Group Foundation, we believe in EXTRApreneurship, building sustainable ecosystems through collaborations that inspire change. With Ijede now part of our network, we are one step closer to a truly circular economy in Nigeria,” she concluded.

Sahara Group Foundation plans to expand the Go Recycling Initiative to more communities in Lagos and across Africa, reinforcing its mission of “Building Sustainable Communities through EXTRApreneurship.”

This year’s survey found that nearly 50% of companies paid the ransom to get their data back – the second highest rate of ransom payment for ransom demands in six years.

Despite the high percentage of companies that paid the ransom, over half – 53% – paid less than the original demand.

In 71% of cases where the companies paid less, they did so through negotiation – either through their own negotiations or with help from a third party.

In fact, while the median ransom demand dropped by a third between 2024 and 2025, the median ransom payment dropped by 50%, illustrating how companies are becoming more successful at minimizing the impact of ransomware.

Overall, the median ransom payment was one million dollars, although the initial demand varied significantly depending on organization size and revenue.

The median ransom demand for companies with over $1 billion in revenue was five million dollars, while organizations with $250 million revenue or less, saw median ransom demands of less than $350,000.

For the third year in a row, exploited vulnerabilities were the number one technical root cause of attacks, while 40% of ransomware victims said adversaries took advantage of a security gap that they were not aware of – highlighting organizations’ ongoing struggle to see and secure their attack surface.

Overall, 63% of organizations said resourcing issues were a factor in them falling victim to the attack, with lack of expertise named as the top operational cause in organizations with more than 3,000 people and lack of people/capacity most frequently cited by those with 251-500 employees.

“For many organizations, the chance of being compromised by ransomware actors is just a part of doing business in 2025. The good news is that, thanks to this increased awareness, many companies are arming themselves with resources to limit damage. This includes hiring incident responders who can not only lower ransom payments but also speed up recovery and even stop attacks in progress,” says Chester Wisniewski, director, field CISO, Sophos.

“Of course, ransomware can still be ‘cured’ by tackling the root causes of attacks: exploited vulnerabilities, lack of visibility into the attack surface, and too few resources. We’re seeing more companies recognize they need help and moving to Managed Detection and Response (MDR) services for defense. MDR coupled with proactive security strategies, such as multifactor authentication and patching, can go a long way in preventing ransomware from the start.”

Additional Key Findings from the State of Ransomware 2025 Report:

• More Companies are Stopping Attacks in Progress: 44% of companies were able to stop the ransomware attack before data was encrypted – a six-year high. Data encryption was also at a six-year low with only half of companies having their data encrypted.
• Backup Use is Down: Only 54% of companies used backups to restore their data – the lowest percentage in six years.
• Silver Lining: Ransomware Payments and Recovery Costs are on the Decline: The average cost of recovery dropped from $2.73 million in 2024, to $1.53 million in 2025. While ransom payments are high, they declined by 50% from $2 million in 2024 to $1 million in 2025.
• Ransom Payments Vary by Industry: State and local government reported paying the highest median amount ($2.5 million), while healthcare reported the lowest ($150,000).
• Companies are Getting Faster at Recovery: Over half (53%) of organizations fully recovered from a ransomware attack in a week – up from 35% last year. Only 18% took more than a month to recover – down from 34% in 2024.

According to the report, 97% of those with a cyber policy invested in improving their defenses to help with insurance, with 76% saying it enabled them to qualify for coverage, 67% to get better pricing and 30% to secure improved policy terms.

The survey also revealed that recovery costs from cyberattacks are outpacing insurance coverage. Only one percent of those that made a claim said that their carrier funded 100% of the costs incurred while remediating the incident.

The most common reason for the policy not paying for the costs in full was because the total bill exceeded the policy limit.

According to The State of Ransomware 2024 survey, recovery costs following a ransomware incident increased by 50% over the last year, reaching $2.73 million on average.

“The Sophos Active Adversary report has repeatedly shown that many of the cyber incidents companies face are the result of a failure to implement basic cybersecurity best practices, such as patching in a timely manner. In our most recent report, for example, compromised credentials were the number one root cause of attacks, yet 43% of companies didn’t have multi-factor authentication enabled,” said Chester Wisniewski, director, global Field CTO.

“The fact that 76% of companies invested in cyber defenses to qualify for cyber insurance shows that insurance is forcing organizations to implement some of these essential security measures. It’s making a difference, and it’s having a broader, more positive impact on companies overall. However, while cyber insurance is beneficial for companies, it is just one part of an effective risk mitigation strategy.

Companies still need to work on hardening their defenses. A cyberattack can have profound impacts for a company from both an operational and a reputational standpoint, and having cyber insurance doesn’t change that.”

Across the 5,000 IT and cybersecurity leaders surveyed, 99% of companies that improved their defenses for insurance purposes said they had also gained broader security benefits beyond insurance coverage due to their investments, including improved protection, freed IT resources and fewer alerts.

“Investments in cyber defenses appear to have a ripple effect in terms of benefits, unlocking insurance savings that organizations can be diverted into other defenses to more broadly improve their security posture. As cyber insurance adoption continues, hopefully, companies’ security will continue to improve. Cyber insurance won’t make ransomware attacks disappear, but it could very well be part of the solution,” said Wisniewski.

Data for the Cyber Insurance and Cyber Defenses 2024: Lessons from IT and Cybersecurity Leaders report comes from a vendor-agnostic survey of 5,000 cybersecurity/IT leaders conducted between January and February 2024. Respondents were based in 14 countries across the Americas, EMEA and Asia Pacific. Organizations surveyed had between 100 and 5,000 employees, and revenue ranged from less than $10 million to more than $5 billion.

Read the full “Cyber Insurance and Cyber Defenses 2024: Lessons from IT and Cybersecurity Leaders,” on Sophos.com for additional global findings and data by sector.

Prior to her appointment, she was the group head of Commercial Banking North, a position she held in 2016 after previously holding other senior management positions at FirstBank, including zonal head of the Public Sector Group and Business Development Manager, Retail Banking Group.

She previously worked for Standard Trust Bank and United Bank for Africa Plc and has over 25 years of industry experience.

In her profile posted on the bank’s website, Mrs. Bubaram brings to the executive management of FirstBank extensive banking experience in various fields spanning Operations, Strategic Business Development, Assets and Portfolio Management, Risk Management, Financial Advisory, and Trade Dealings in Public Sector, Retail, and Commercial Banking.

As the Group Head, Commercial Banking North, Ms. Bubaram strategically led her team to increase business efficiency by creating quality risk assets, reducing non-performing loan portfolios, improving account acquisition, implementing product development, and driving trade transactions that have led to sustained growth, increased profitability, and business stability.

Mrs. Bubaram is a certified accountant of the Association of National Accountants of Nigeria and an honorary senior member, the Chartered Institute of Bankers of Nigeria.

She holds a bachelor’s degree in Accounting from the University of Maiduguri, a Master of Business Administration from the University of Maiduguri, and a Master of Science in International Money, Finance, and Investment from Brunel University, London, United Kingdom.

She has attended Senior and Advanced Management programs at Lagos Business School and IESE Business School Barcelona, Spain, amongst several other senior management training and certifications.

Besides her illustrious banking career, Mrs. Bubaram is the co-chair and founder of the Hearty Hands Humanity Foundation, a foundation dedicated to saving and enriching the lives of women and children, focusing on child education and healthcare. She currently serves as the alternate global chair of the FirstBank Women Network, FWN.