CBN, DBN urge MfBs to improve sustainable banking

The Development Bank of Nigeria and the Central Bank of Nigeria have urged microfinance banks and other participating financial institutions to improve their sustainability efforts and become more responsive to their social and ecological environment.

The banks said this was important as Nigeria and the global communities continued to grapple with the effects of climate depletion and economic uncertainties caused by the COVID-19 pandemic

According to a statement on Friday entitled ‘DBN advocates sustainability banking for MFBs,’ the banks said this during a webinar organised by DBN for MfBs and PFIs.

The initiative was focused on deepening DBN’s efforts to increase awareness on sustainability issues, and also positively influence its PFIs Sustainable Development Goals focused initiatives and operations.

Delivering her keynote address, the Special Adviser to CBN Governor on Sustainability, Dr Aisha Mahmoud, said deliberations on emerging issues of sustainability were important for the financial ecosystem.