Nigerian Sustainable Banking Principles, 2012

Nigeria Current 2012

The Nigerian Sustainable Banking Principles was adopted in 2012 by the Nigerian Bankers’ Committee, a group of representatives from the leading Nigerian commercial banks. The Principles, which address commitments to both environmental sustainability and respect for human rights, were given force of law in September 2012 when the Nigerian Central Bank directed all financial institutions to adopt and implement them. The Principles among others require banks to respect human rights in their business activities, to promote financial inclusion and women’s economic empowerment, and to integrate environmental and social considerations into all bank decision-making processes. Banks are required to measure and report their progress toward implementing the Principles on a regular basis. In 2014 a reporting template was issued by the Central Bank for use by banks to report on implementation of the principles.

Scope

General sustainability/ESG/non-financial

Industry sectors covered by the instrument

Specific sector/s

Organizations covered by the instrument

Financial institutions

Issuer type

Financial Regulators

Type of instrument

Code of conduct or guideline

Mandatory or voluntary

Mandatory

The geographical scope

National/federal

Project Partners