Nigeria: Emefiele charges banks on sustainability principles for lending money

Central Bank of Nigeria (CBN) Governor Godwin Emefiele advised the banking sector to always ensure that potential beneficiaries of their loans place great importance on protecting the environment.

Emefiele gave this advice yesterday at an event marking World Environment Day 2021.

According to him, “lending practices must take into account our environment, to be sure that sustainable banking principles are taken into account when banks lend money. The theme of this year’s World Environment Day is “ecosystem restoration”.

The Governor of the CBN, along with his deputies, planted trees as a symbol of promoting the green environment in Nigeria during the event.

He argued that sustainable banking principles should be taken into account when banks lend money, and urged banks to check specifically to orient themselves against projects presenting threats to the green environment upon approval. loans to candidates.

Emefiele added that the event reminds everyone of the need to ensure the country’s ecosystem remains green.

“We need to make sure we remove anything that creates pollution in our environment and I’m sure we all know the need to go green on a global scale which means we need to keep our ecosystem alive to keep everything green. “

He revealed that some international financial institutions and development finance institutions around the world are starting to turn down loan applications if they find something that pollutes the environment.

“We must join together not only as bankers, we must join together as Nigerians and members of the global community to ensure that our environment remains green for oxygen to circulate well in our lives so that we can all live well. and avoid pollutants that destroy our lives and the environment, “he insisted.

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