DBN Emerges Nigeria’s First DFI With SSCI Level 5 Rating
- Pledges commitment to sustainable growth, development
BY COBHAM NSA – For its engaging sustainability initiatives, Nigeria’s foremost Development Finance Institution, Development Bank of Nigeria (DBN) Plc, has bagged a level 5 rating which is the highest possible ranking in the Sustainability Standards Certification Initiative (SSCI) Project.
The SSCI has become the reference scheme for institutions that are taking issues of sustainability enterprise seriously.
In aligning with the SSCI’s provisions, DBN has continued driving a deeper understanding of its already established mandate of serving society, providing financial viability, and environmental sustainability within its operations.
As part of its commitment to sustainability, DBN recently celebrated World Environmental Day, pledging commitment to restore green spaces in select schools’ grounds both in Abuja and Lagos.
Besides its decision to establish a financial endowment fund for “Green Clubs” in the selected institutions, the bank also announced its partnership with MOE +Art Architecture, a local sustainability-enabled design, and architecture firm focused on creating sustainable practices and methodologies, to research, test, and archive local indigenous sustainable materials from four geographical locations in Nigeria.
With the SSCI completion certificate, DBN is now inducted into the local and global European Organization for Sustainable Development (EOSD) family, which houses banks across Africa, Asia, Europe, and South America that are already member-institutions of the initiative.
According to the Bank’s Managing Director, Tony Okpanachi, who appreciated the World Development Finance Forum (WDFF) for the award, DBN would not relent in its efforts at deepening its investments around sustainability standards.
An elated Okpanachi said; “The award shows the strides we are achieving as an organization. Since we were inducted into the SSCI last year, we have realized a lot of benefits. Some of which are increased innovation in key sustainability-related processes, development of high-impact goals and purpose statements, creating an innovation and stakeholder management framework.
“This has enabled us at DBN to be a part of this historic event as DBN is the only Development Finance Institution in Nigeria and one of the very few in Africa earning the highest accreditation level (Level 5) and look forward to deepening our commitment to sustainability in the days ahead.
“We also realize the benefit of attaining the highest possible level of Stage 5 rating in an elite accreditation forum such as the Sustainability Standards and Certification Initiative (SSCI) and we do not take it for granted.”
On her part, DBN’s Executive Director, Finance and Corporate Services; Ijeoma Ozulumba, who received the award on behalf of the Bank, said; “We have envisioned increased opportunities for internal development, collaborations, and partnerships, and since we have been a part of the SSCI, we have experienced nothing short of that, we have created a system that works best for our structure and have held ourselves accountable to our stakeholders”
The Federal Government set up the DBN in collaboration with global development partners to address major financing challenges facing Micro, Small, Medium Enterprises (MSMEs). Its main objective is to mobilize financing for Nigeria’s economic diversification, serve the unserved and underserved MSME market segment while facilitating innovative and eco-friendly solutions for the marketplace.
