Microfinance banks and other participating financial institutions have been charged by the Central Bank of Nigeria (CBN) and the Development Bank of Nigeria (MBN) to improve their sustainability efforts and become more responsive to their social and ecological environment.
The banks said this during a webinar organised by DBN for MfBs and PFIs, according to a statement entitled ‘DBN advocates sustainability banking for MFBs,’ on Friday.
According to the banks this was important as Nigeria and the global communities continued to grapple with the effects of climate depletion and economic uncertainties caused by the coronavirus pandemic.
The initiative was focused on deepening DBN’s efforts to increase awareness on sustainability issues.
It also positively influence DBN’s PFIs Sustainable Development Goals focused initiatives and operations.
Dr. Aisha Mahmoud, Special Adviser to CBN Governor on Sustainability, while delivering her address said deliberations on emerging issues of sustainability were important for the financial ecosystem.