By Philip Clement
Nigeria’s foremost development finance institution, the Development Bank of Nigeria (DBN), has received an accreditation certificate of acceptance in line with Sustainable Standards and Certification Initiatives (SSCI) by the World Development Finance Forum in Germany.
The certificate was received on behalf of the Bank by Nigeria’s Ambassador to Germany, Mr Yusuf Maitama Tuggar, represented by Mrs Mobolaji Sakirat Ogundaro, Deputy Chief of Mission of Nigeria to Germany.
The Sustainability Standards and Certification Initiative (SSCI) is a global initiative for developing and maintaining the first holistic, universally accepted, and an executable set of across-the-board sustainability standards.
The standards are established by consensus among stakeholders and adopted voluntarily by the value-driven financial institutions.
Ogundaro, while receiving the certificate said, “This accreditation demonstrates the level of commitment by the Development Bank of Nigeria in integrating sustainability standards in its operations and also advocating for the adoption of principles of sustainability in the financial ecosystem in Nigeria.”
The Bank’s Managing Director, Tony Okpanachi commended the World Development Finance Forum for the accreditation, assuring that the Bank will not relent in efforts aimed at deepening its investments in the area of sustainability.
His words: “The award shows that we’re doing something right and the international community has acknowledged that.
As part of our strategy to deepen the impact on the Nigerian economy, we have equipped our Bank with additional expertise and structures in the area of sustainability.
“We recognise the benefits of acceptance into an elite accreditation forum such as the Sustainability Standards and Certification Initiative (SSCI) and we do not take it for granted.”
In her remarks, Mrs Ogundaro and the Nigerian Mission in Germany, The CEO, Financial Nigeria International, Nigeria representative of EOSD (European Union Strategy for Sustainable Development), Jide Akintunde said: “Please, I would like to offer my deep appreciation to your Excellency, for graciously representing the country and the two Nigerian financial institutions, Development Bank of Nigeria Plc and Access Bank Plc, to receive the certificates and awards on their behalf.”
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The Development Bank of Nigeria was conceived by the Federal Government of Nigeria in collaboration with global development partners to address major financing challenges facing Micro, Small, Medium Enterprises (MSMEs).
Since Inception, DBN has continued to impact the economy through the provision of access to finance, capacity building initiatives for PFIs, and MSMEs, as well as de-risking facilities through a credit guarantee scheme to facilitate sustainable socio-economic development of the underserved, but critical sub-sector.