CBN, DBN want Microfinance Banks to improve on sustainable banking

The Central Bank of Nigeria (CBN) and the Development Bank of Nigeria (DBN) have urged Microfinance Banks (MfBs) and other Participating Financial Institutions (PFIs) 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 entitled ‘DBN advocates sustainability banking for MFBs,’ the banks made this call during a webinar organised by the 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.