Nigeria’s First Bank of Nigeria Limited (FirstBank) has disclosed that it conducted rigorous sustainability risk screening on more than ₦3 trillion worth of corporate credit transactions during 2024. The move forms a core part of the bank’s deepened Environmental, Social, and Governance (ESG) governance practices

📌 Key Highlights

• FirstBank screened 237 transactions valued at over ₦3 trillion through its ESG Management System in 2024, integrating risk assessment across credit operations
• The effort contributed to FirstBank being named Nigeria’s Best Bank for ESG at the Euromoney Awards for Excellence 2025, marking its second consecutive national win .

🔍 Background and Broader ESG Initiatives

This screening effort is driven by FirstBank’s ESG Management System (ESGMS), powered by the FINTRAK real-time credit risk platform. Similar efforts in 2023 saw the bank screen 243 transactions worth approximately ₦3.29 trillion

The bank’s broader sustainability agenda in 2024 included a 30,000-tree planting campaign in collaboration with the Nigeria Conservation Foundation, part of a path toward a 50,000-tree target, expected to sequester roughly 720 tonnes of CO₂ by 2025

🌱 Significance of the ESG Screening Framework

• Embedding ESG risk screening into credit processes helps identify climate, social, and governance-related vulnerabilities such as environmental footprint, labor conditions, and governance standards before lending decisions are finalized.
• It enhances access to sustainable finance channels and aligns FirstBank with global practices such as the Nigerian Sustainable Banking Principles, IFC Performance Standards, and international ESG frameworks .

💬 Leadership Perspective

Patrick Akhidenor, the bank’s Chief Risk Officer and Chair of the Sustainability Committee, underlined that the ESG screening process was instrumental in securing recognition at Euromoney Awards, reinforcing the bank’s leadership in sustainable banking practices 🌿

🧭 Why It Matters

• FirstBank’s ESG due diligence on ₦3 trillion in credit during 2024 demonstrates an institutional shift toward responsible finance in Nigeria’s banking sector.
• It positions FirstBank as a robust ESG leader, driving transparency and risk management that could influence industry standards.
• Other financial institutions may follow suit, accelerating adoption of ESG risk integration and strengthening Nigeria’s financial sector resilience.

As the bank continues to build on these efforts, attention is now on whether FirstBank and its peers can scale ESG integration further while helping Nigeria meet its sustainability and climate finance goals.