Banks’ll Consider Sustainable Principles Before Lending, Says Emefiele

The Governor, Central Bank of Nigeria, Mr Godwin Emefiele has said banks will now consider sustainable banking principles when lending money to individuals and corporate entities.

According to a statement issued on Thursday, Emefiele disclosed this while leading his deputies to plant trees at the CBN Head Office, in commemoration of the 2021 World Environment Day with the theme ‘Ecosystem restoration.’

“The Governor, Central Bank of Nigeria, Mr Godwin Emefiele, has stressed the need for Nigerians to protect the ecosystem, warning that henceforth banks will consider sustainable banking principles when lending money to individuals and corporate entities,” the statement read in part.

According to Emefiele, the Nigerian banking sector is committed to environmental conservation by ensuring that the principles of sustainable banking are taken into account when banks consider those, they offer credit.

He urged Nigerians to strive to make the environment green by restoring the ecosystem and avoiding pollutants that destroy the earth.

“There is the need for the environment to go green. We must join the global community to ensure that we clean the environment and rid the ecosystem of pollutants that are harmful to us,” he added.

The highpoint of the event was the planting of trees by Emefiele and the deputy governors of the bank.

Meanwhile, as part of activities marking the World Environment Day for 2021, representatives from the apex Bank paid advocacy visits to select schools in the Federal Capital Territory on Wednesday, where they donated waste bins and recycled tissue papers.