DBN Holds Workshop For Executives Of Microfinance Banks

BY ABUSATAR HAMED

LAGOS: As part of its advocacy initiative, the Development Bank of Nigeria (DBN) has held a capacity-building programmeon Environmental & Social Risk Management practice for top executives of Microfinance Banks in Lagos, recently.

According to a release e-signed and made available to StarTrend Int’l magazine & www.startrendinternational.com Kayode Sogbamu of PR Redline, the Managing Director, Development Bank of Nigeria, Tony Okpanachi who was represented by the Chief Operating Officer, Bonaventure Okhaimo, in his opening remarks, said, “in fulfilling our mandate of increasing access, Development Bank of Nigeria Plc is poised to not only be change drivers but be a strong ally partnering with participating financing institutions to drive sustainable development by ensuring that lending is done with the interest of the environment and social wellbeing of the people”.

He stated that this workshop was a follow up on the feed back received at an earlier training organized in 2018 for middle level managers of MFBs by DBN and charged participants as the leaders of their institutions, to take advantage of the lessons from these workshops to ensure improved compliance as well as best practice in environmental and social risk management principles.

The session highlighted strategies on identification, measurement, and mitigation of Environmental and Social Risks in project financing, from policy and strategic point of view. It also exposed participants to measures of developing Environmental & Social Risk footprints in areas of resource efficiency, reducing carbon emission and other sustainable banking initiatives.

Participants comprising of CEOs and top executives of leading Microfinance Banks in Nigeria expressed their gratitude to DBN for granting them the opportunity to be part of this timely initiative that is designed to upscale MFBs in operationalizing the requirements of Nigerian Sustainable Banking Principles (NSBP).

They also pledged that they will inculcate in their various organizations the strategies and concepts to influence policies and changes that would not only encourage a renewed level of compliance with NSBP but also promote strong corporate governance and responsible banking practices.

The Development Bank of Nigeria has so far on-boarded 27 participating financial institutions and disbursed over N100,000 billion to more than 95,000 MSMEs in Nigeria since the commencement of its operations in 2017 .