Sets of incentives are on the way from the Central Bank of Nigeria for banks in the country to imbibe the culture of environmentally sustainable banking practices. This was disclosed on World Environment Day by Dr. Aisha Mahmood, special adviser to the CBN Governor on Sustainable Banking. In addition, the CBN has advised Deposit Money Banks not to lend money to businesses that were impacting negatively on the environment.

“Deposit money banks are expected to voluntarily report to the CBN their sustainable banking principles. Since these banks came in voluntarily to the sustainable banking principle initiative; once they have joined, they are expected to comply with the principles,” Mahmood said.

She said that the CBN was doing a lot to promote resource/energy efficiency by being connected to the national grid thus minimizing the use of generators.

As part of the activities to mark the environmental day, Godwin Emefiele, CBN governor urged the employees of the bank to imbibe the culture of preserving the ecosystem through sustainable practices not just within the office environment but in all surroundings.

Emefiele explained that the CBN adopted sustainable banking principles in order to protect the environment and human rights. He also led other top executive and management staff of the CBN to plant trees around the bank headquarters in Abuja.

By Dike Onwuamaeze


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