By Modupe Gbadeyanka
Recently, some Chief Executive Officers and top executives of leading microfinance banks in Nigeria gathered in Lagos for a capacity-building seminar to discuss environmental and social risk management practice.
The programme was organised by the Development Bank of Nigeria (DBN) as part of its advocacy initiative and the session was interactive, with knowledge shared by participants.
Managing Director of DBN, Mr Tony Okpanachi, who was represented by the Chief Operating Officer of the lender, Mr Bonaventure Okhaimo, during his opening remarks, said “in fulfilling our mandate of increasing access, DBN is poised to not only be change drivers but be a strong ally partnering with participating financing institutions to drive sustainable development by ensuring that lending is done with the interest of the environment and social wellbeing of the people.”
He stated that this workshop was a follow up on the feedback received at an earlier training organized in 2018 for middle level managers of MFBs by DBN and charged participants, as the leaders of their institutions, to take advantage of the lessons from these workshops to ensure improved compliance as well as best practice in environmental and social risk management principles.
The session highlighted strategies on identification, measurement, and mitigation of Environmental and Social Risks in project financing, from policy and strategic point of view. It also exposed participants to measures of developing environmental and social risk footprints in areas of resource efficiency, reducing carbon emission and other sustainable banking initiatives.
During the event, participants expressed their gratitude to DBN for granting them the opportunity to be part of this timely initiative that is designed to upscale MFBs in operationalizing the requirements of Nigerian Sustainable Banking Principles (NSBP).
They also pledged that they will inculcate in their various organizations the strategies and concepts to influence policies and changes that would not only encourage a renewed level of compliance with NSBP but also promote strong corporate governance and responsible banking practices.
DBN has so far on-boarded 27 participating financial institutions and disbursed over N100 billion to more than 95,000 MSMEs in Nigeria since the commencement of its operations in 2017.
