Banking
Luxembourg Stock Exchange Lists Access Bank’s N15bn Green Bond
By Osigbemhe Apeaye
The Luxembourg Stock Exchange (LuxSE) has successfully listed the N15 billion green bond issued by Access Bank Plc after it was initially admitted on the Nigerian Stock Exchange (NSE).
The listing of the eco-friendly bond represents a major milestone in the development of sustainable financing in Nigeria.
The cross-listing of this 15.50 percent fixed rate green bond with five-year maturity has enjoyed many firsts including the first-ever climate bonds standard certified corporate green bond to be issued in Africa; the first to be listed on the NSE in 2019; and now, the first successful cross-listing of a bond born out of the partnership between NSE and LuxSE.
According to the World Economic Forum’s Global Risks Report, the top 5 risks in the world today closely related to climate change issues.
There is, therefore, an increased urgency to reverse recent environmental trends such as ravaging bushfires, extremes of temperatures, floods, cyclones and season disruptions that have made the effects of climate change even more real.
These developments have thrust the concept of sustainable financing into the limelight, allowing products like Green Bonds to gain increasing significance.
It is, therefore, no surprise that the green bond market has witnessed tremendous growth globally with a total of $181 billion raised from global investors in 2019, representing a 14-fold increase from the $13 billion raised in 2013.
On the demand side, there has been heightened consideration of Environment, Social and Governance (ESG) factors in the demand for profitable investment products.
Looking at the Nigerian market, notable milestones have been achieved through the collaboration of public and private stakeholders. In 2016, NSE boldly reached out to the Ministry of Environment with a proposal for the issuance of a green bond which was embraced and championed by former Minister of Environment and now Deputy Secretary General of the United Nations, Mrs Amina Mohammed. This move led to a series of partnerships and innovations that have delivered gradual uptake in this market segment.
Among these were the first ever green bonds conference which held at the Stock Exchange House, Lagos and was headlined by Nigeria’s Vice President, Professor Yemi Osinbajo;
Also, is the issuance of the first 5-year N10.69 billion sovereign and certified green bond from the Nigerian government under its Ministry of Environment and the Debt Management Office (DMO).
There is further the subsequent issuance of a 7-year, N15 billion sovereign green bond which was well received by investors with an over-subscription of 220 percent.
In addition, there was the listing of Access Bank Plc’s N15 billion green bond and North South Power Company Limited’s N8.5 billion Corporate Infrastructure Green Bond.
Lastly, there was the signing of a Memorandum of Understanding between the NSE and the LuxSE to promote cross listing of bonds and foster the growth of sustainable finance in Nigeria.
The green bonds market presents great opportunities to reap value if it continues to enjoy the unwavering commitment of key capital market stakeholders.
Access Bank has pledged its support to the global climate change mitigation and adaptation agenda which seeks to promote responsible green lending globally.
Group Managing Director, Access Bank Plc, Mr Herbert Wigwe, affirmed that, “The cross-listing of the bond will make a material contribution to address climate change and provide institutional investors with access to a deep pool of green capital domestically and internationally.”
On its part, the NSE has expressed its resolute commitment to the development of a sustainable capital market in Nigeria.
The Chief Executive Officer of NSE, Mr Oscar Onyema, has been reported to have said, “We will continue to maintain a dedicated sustainable market segment which provides issuers, asset managers and investors, access to green, social, sustainable, or ESG-focused securities.
“Asides Green Bonds, this segment will also promote the development of green labelled Fixed Income Products, Indices and Exchange Traded Products (ETFs) that help direct funding of green projects and environmentally aligned issuers as well as the green transition that ensures market resilience to the economic impacts of climate change.”
By Modupe Gbadeyanka
About N2 billion is expected to be used to finance renewable energy products for customers by the end of 2026 in an effort to accelerate Nigeria’s clean energy transition.
To meet this goal, Sterling Bank is launching Sterling Solar Financing Hubs inside StarTimes retail outlets to embed on-the-spot solar financing at the point of purchase.
From the N2 billion earmarked for this initiative, N600 million has already been used up.
Under this programme, customers can now walk into participating outlets, select their preferred solar solution, receive financial guidance from dedicated Sterling Solar Financing Advisors, and begin the financing process immediately, subject to the bank’s credit assessment.
The first phase of the rollout commenced this July with five Solar Financing Hubs across Lagos, located in Lekki, Ikeja, Festac, Surulere, and Victoria Island.
The network will expand rapidly to 46 StarTimes outlets nationwide before the end of the third quarter of 2026, with a view to extending the model to more than 200 StarTimes locations nationwide.
Both parties have promised to continue working together to democratise access to clean energy financing, empowering more Nigerians to solarise their homes and businesses while contributing to a greener future.
“Sterling exists to enrich lives, and we believe that access to clean, reliable energy should be within everyone’s reach. Through this partnership with StarTimes, we are democratising access to solar by bringing financing directly to the point of need, enabling more families and businesses to transition to sustainable energy without the burden of prohibitive upfront costs. This is about unlocking opportunity, improving livelihoods, and powering Nigeria’s future,” the Divisional Head of Renewable Energy and Mobility at Sterling Bank, Mr Darlington Nwankwo, said.
Also commenting, the Vice President of StarTimes Nigeria, Mr Eric Xiao, said, “With the rollout of the Sterling Solar Financing Hubs, we are doing more than just selling solar products; we are building a sustainable energy ecosystem. By integrating StarTimes’ extensive service network with Sterling Bank’s professional financial services, we are significantly lowering the barrier for Nigerian households and small businesses to access clean energy.
“Moving forward, we will continue to deepen this partnership, ensuring that more Nigerians can enjoy reliable, affordable, and smart energy solutions, ultimately turning our vision of energy accessibility into a reality for all.”
By Modupe Gbadeyanka
The Nigeria Business Summit Regional Tour of Stanbic IBTC Bank made a detour to Jogor Centre, Ibadan, Oyo State, on Wednesday, July 15, 2026, to empower Micro, Small, and Medium Enterprises (MSMEs).
The event brought together business leaders, development partners and government representatives to discuss pathways for sustainable enterprise development across the South-West.
Participants engaged in practical masterclasses on export opportunities; access to finance and business growth strategies; gaining actionable insights into market expansion; trade documentation; credit readiness; financial record-keeping; and structured financing solutions designed to support long-term business success.
The Head of Enterprise Banking at Stanbic IBTC Bank, Ms Olajumoke Bello, informed participants that the programme is part of the lender’s commitments to supporting MSMEs through practical business education, strategic partnerships and improved access to growth opportunities.
The Executive Director of Business and Commercial Banking at Stanbic IBTC Bank, Mr Remy Osuagwu, on his part, said, “Our ambition is to be more than a financial institution to Nigerian businesses. We want to be a trusted growth partner, providing the financing, business insights and advisory support entrepreneurs need to build sustainable enterprises and unlock new opportunities.”
Similarly, the chief executive of Stanbic IBTC Bank, Mr Wole Adeniyi, who reinforced the company’s commitment to enterprise development, highlighted the importance of providing businesses with the right support structures to enable sustainable growth and long-term competitiveness.
“At Stanbic IBTC, we believe that sustainable economic growth depends on the success of small and growing businesses. That is why we are focused on providing access to finance, practical advisory support and the connections businesses need to move from ambition to scale,” he stated.
The Oyo State Commissioner for Investment, Trade, Cooperatives, and Industry, Professor Soliu Adelabu, said the initiative was designed to support businesses and strengthen the state’s entrepreneurship ecosystem, praising the bank for its support for traders, entrepreneurs, and artisans in the state.
The Permanent Secretary in the Oyo State Ministry of Women Affairs and Social Inclusion, Mrs O.M. Shotonwa-Roagess, highlighted the importance of strategic partnerships in expanding economic opportunities for women and vulnerable groups across Oyo State. She noted that the ministry remains open to collaborating with organisations such as Stanbic IBTC, development partners and the private sector to drive financial inclusion, entrepreneurship and sustainable economic empowerment.
The Nigeria Business Summit Regional Tour forms part of Stanbic IBTC’s broader commitment to empowering entrepreneurs through capacity building, financial inclusion and strategic business support, helping enterprises unlock new opportunities for growth and long-term success.
The Ibadan leg built on the momentum of previous tour stops in Katsina and Aba.
By Adedapo Adesanya
The Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso, says Nigeria anticipates remittances from citizens living abroad to increase by two-thirds in 2026 as it seeks to bolster its foreign-exchange reserves to $1 billion monthly.
“We are expecting that by the end of the year, we will hit about a billion Dollars a month from diaspora remittances,” he said at the 14th Annual BusinessDay CEO Forum in Lagos on Thursday, themed From Stability to Shared Prosperity.
Mr Cardoso said remittances are expected to be boosted from more than $600 million currently, banking on the CBN’s deliberate target at remittances to diversify reserve sources beyond oil earnings.
According to him, the apex bank engaged Nigerians abroad, banks and international partners to identify barriers to official remittance flows.
He said the lender subsequently reviewed policies to ensure easier movement of funds into and out of the country.
Mr Cardoso described the approach as providing free entry and free exit for foreign exchange.
He said the reforms helped double diaspora inflows within one year and exceeded initial expectations, also projecting annual remittances could reach about $8 billion if the current momentum was sustained, adding that the development reflected growing confidence in Nigeria’s financial system and foreign exchange market.
Mr Cardoso said reforms introduced by the apex bank had restored stability in the foreign exchange market and improved investors’ confidence.
He identified exchange rate unification as one of the central bank’s major achievements under the reforms programme.
According to him, replacing multiple exchange rate windows with a market-driven system eliminated distortions and improved transparency.
Mr Cardoso said improved foreign exchange liquidity and stronger reserves were among the gains from the reforms.
He said Nigeria’s net external reserves had risen from about $3 billion at the start of the reforms to above $40 billion currently, noting that gross external reserves had grown to about $52 billion, representing about 10 months of import cover.
According to him, the reserves are designed to shield the economy from external shocks and excessive market volatility.
He said the reserves were not meant for routine interventions or day-to-day exchange rate management.
