Banking
DBN Advocates Sustainability Banking for Microfinance Banks
As Nigeria and global communities continue to grapple with effects of climate depletion and economic uncertainties enforced by the COVID-19 pandemic, Development Bank of Nigeria (DBN) has urged Microfinance Banks (MFBs) and its other Participating Financial Institutions (PFIs) to improve their sustainability efforts and become more responsive to their social and ecological environment.
This was the thrust of deliberations at a recent webinar session themed Creating a sustainability community of Practice for Nigerian Microfinance Banks which was organised by DBN for MFBs and PFIs.
The initiative is focused on further deepening DBN’s efforts to increase awareness on sustainability issues, and also positively influence its Participating Financial Institutions (PFIs) Sustainable Development Goals (SDG) focused initiatives and operations.
DBN Chief Operating Officer, Mr Bonaventure Okhaimo, in his welcome address said there is increased global attention on social impact and contribution of business to their environment and society. He explained that the webinar session is to initiate a conversation around sustainability initiatives and implementation strategies for financial institutions in Nigeria.
“Currently, the overall awareness of sustainability and its transitions for the microfinance ecosystem has not been clearly articulated in Nigeria due to the fact that most MFBs regard lending as the most essential service to be rendered to end-lenders.
“This session is designed to enable PFIs and DBN affiliated MFBs to have a more robust proposition about sustainability and will open them up to myriad advantages, including external funding, generation of deeper trust with stakeholders and legitimization of operations,” he said.
Delivering her keynote address, Special Adviser to CBN Governor on Sustainability, Dr Aisha Mahmoud, stated that deliberations on emerging issues of sustainability are important for the financial ecosystem.
According to her, MFBs, by virtue of their mandate, are already practising the social pillar of sustainability by lending to the underserved sectors of the economy, but have to focus more on the environmental impact of their lending by looking into the activities and operations of their investees through a sustainability lens. She added that today’s successful businesses are those that integrate sustainability in their operations.
“We cannot ignore the environmental pillar because it is as important as the social pillar. Due to our way of unsustainable consumption and production, we are constantly depleting the natural capital.
“We need to shift our growth pathway from the current trajectory to the one that improves the quality of human life while living within the carrying capacity of the planet earth.
“Going by feedback, companies always think sustainability is an additional cost to the business, but we need a shift from that perception because sustainability is a win-win situation that connects people, planet and the economy.
“Studies show businesses that integrate sustainability well outperform those that do not, as it lowers the cost of capital, results in better operational performance and positively influences the stock price,” she said.
In her remarks, DBN Sustainability Specialist, Lolade Awogbade, who spoke on sustainability benefits for MFBs, said sustainability is more important in these times of pandemic coupled with economic instability, and it is essential that there is an overall understanding of the influence MFBs have on communities and environments which they serve.
She added that investing in social and environmental sustainability initiatives will not only help finance companies in fulfilling their social mission but also differentiate them from competitors, give access to new market segments, provide access to new funding and improve their brand and corporate image.
“A study conducted by European Journal of Sustainable Development, the primary objective of Microfinance has largely been economic, but in recent years, the focus has shifted to a more social or developmental objective.
“In addition, there is a new entrance with the concept of Green Microfinance which entails providing low or moderate-income individuals with loans and technical assistance to help them procure and set up green or environmental friendly products and technology,” Awogbade said.
By Modupe Gbadeyanka
In recognition of its strategic leadership in advancing the growth and resilience of small and medium-sized enterprises (SMEs), Union Bank of Nigeria Plc has been honoured by the Association of Small Business Owners of Nigeria (ASBON).
The lender was rewarded by the group for its suite of solutions designed to enable business expansion and long-term value creation.
At the Nigeria National SME Business Awards, held recently in Lagos, Union Bank was given the Best SME Growth Banking Initiatives Award for 2025.
The ceremony was organised by ASBON in partnership with the Lagos State government through the Ministry of Commerce, Cooperatives, Trade and Investment.
The event convened stakeholders from the public and private sectors to recognise individuals and organisations driving meaningful impact across Nigeria’s SME ecosystem.
Receiving the award on behalf of the bank, its Head of SME Segment, Mr Ayokunnumi Abraham, described the recognition as a strong endorsement of the organisation’s commitment to supporting small and medium-sized businesses.
“We are honoured to receive this recognition, which reflects Union Bank’s continued commitment to helping SMEs grow by making banking simpler, faster, and more accessible.
“Through enhancements to our specialised platforms such as Union360, we have meaningfully reduced the time it takes for businesses to come on board and begin transacting.
“These improvements have shortened onboarding, increased digital adoption among our SME customers, and supported the acquisition of new business clients. Our focus remains on delivering practical solutions that help Nigerian businesses thrive,” he stated.
By Modupe Gbadeyanka
The stellar contributions of Polaris Bank Limited to youth employment, talent development, and workforce empowerment across Nigeria have not gone unnoticed, as the company was recently recognised at an event in Lagos.
At the 2026 Jobberman Partners’ Convening, the financial institution was bestowed with the Private Sector Champion Award.
The award recognises private sector organisations that have demonstrated exceptional commitment and leadership in advancing youth employability through impactful recruitment initiatives, graduate trainee programmes, executive hiring support, candidate assessment programmes, and strategic partnerships that create sustainable career opportunities for young Nigerians.
Themed From Impact to Action: Collectively Designing the Future of Youth Employment in Nigeria, the convening focused on fostering collaboration between the private sector and other stakeholders to expand access to meaningful employment opportunities and equip young Nigerians with the skills and opportunities required to succeed in an evolving economy.
On the recognition, Jobberman commended Polaris Bank for consistently going beyond transactional partnerships to deliver measurable impact within Nigeria’s employment ecosystem. The renowned recruitment firm described Polaris Bank as a credible and purpose-driven institution committed to advancing youth employability and supporting the future of work in Nigeria.
The Head of Talent Management at Polaris Bank, Ms Cynthia Sanyaolu, reaffirmed the lender’s commitment to empowering young Nigerians and strengthening the nation’s workforce through strategic people-focused initiatives designed to create long-term economic and social impact.
“This recognition reflects Polaris Bank’s unwavering belief in the potential of the Nigerian youths and our commitment to building platforms that enable them to thrive professionally and economically.
“At Polaris Bank, we see talent development and youth empowerment as critical drivers of national growth and sustainable development,” she stated.
Over the years, Polaris Bank has continued to invest in initiatives that promote learning, career growth, workforce inclusion, and economic empowerment.
Through strategic Graduate Trainee recruitment programmes via its flagship Polaris Graduate Intensive Training (PGIT) and Polaris Tech Ignite Training (TechIGNITE), among other talent development initiatives, and collaborative partnerships, the bank remains committed to supporting the next generation of Nigerian professionals while contributing to national development.
By Aduragbemi Omiyale
Plans are underway by Ecobank Transnational Incorporated (ETI) to approach the international debt market for a capital raise.
The parent company of the Ecobank Group intends to use proceeds from the proposed exercise to refinance “the concurrent any-and-all tender offer of the ETI $350 million 8.750 per cent tier 2 notes due June 2031.”
However, the issuance of the notes is subject to prevailing market conditions and the conclusion of the necessary transaction documentation, a statement signed by the organisation’s chief financial officer, Mr Ayo Adepoju, stressed.
After issuance, the debt instrument may be listed on the London Stock Exchange, with the expectation that the bonds will be traded on its regulated market.
Ecobank noted that it would allocate an amount equivalent to the full net proceeds of the issue of the notes to finance or refinance, in part or in full, new and/or existing eligible assets as described in its Green Bond Framework (Ecobank-Sustainability), as amended and supplemented from time to time.
Ecobank, which has banking operations in 34 countries in Africa, is listed on the Nigerian Exchange (NGX) Limited, the Ghana Stock Exchange and the Bourse Régionale des Valeurs Mobilières (Stock Exchanges).
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