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FirstBank

FirstBank Nigeria screened 505 corporate transactions valued at over N10tn for Environmental, Social, and Governance risks in 2025. This figure represents more than double the 237 transactions worth over N3tn assessed by the lender in 2024.

The financial institution disclosed the update at the inaugural Annual Sustainability Conference of the Sustainability Professionals Institute of Nigeria held in Lagos. Speaking on behalf of the Managing Director and Chief Executive Officer of FirstBank Group, Olusegun Alebiosu, the bank’s Executive Director of Risk Management, Adebiyi Olagbami, stated that challenging economic conditions strengthen the mandate for sustainability.

“Challenging times are not a reason to retreat from sustainability commitments; they are the reason those commitments were made in the first place,” Alebiosu said.

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Alebiosu highlighted that FirstBank has finalised its Green Product Credit Policy to align lending standards with its Climate Policy, Environmental and Social Management System, International Finance Corporation Performance Standards, and IFRS S1 and S2. He added that the bank “screened 505 corporate transactions worth more than N10tn for ESG risks in 2025, compared with 237 transactions valued at over N3tn in 2024.”

To expand its sustainable finance options, the bank is introducing Alternative Energy Finance for individuals, solar financing for small and medium-sized enterprises, and a green energy addendum for vehicle loans.

Elaborating on the risk framework, Olagbami emphasized that sustainable finance should act as a driver for economic growth rather than a mere compliance measure. He noted that ESG issues directly affect borrower repayment capabilities, prompting the bank to embed risk assessments into credit procedures for sectors such as construction, oil and gas, agriculture, manufacturing, and services.

Addressing the conference, the Executive Director and Chief Investment Officer of the Nigeria Sovereign Investment Authority, Kolawole Owodunni, representing MD/CEO Aminu Umar-Sadiq, remarked that sustainability must move from the periphery to the core of organisational decision-making. Additionally, SPIN President Kenneth Amaeshi urged stakeholders to adopt an indigenous approach to sustainability rather than relying solely on imported frameworks.