FirstBank Nigeria evaluated over ₦10 trillion in corporate banking transactions for environmental, social, and governance compliance risks in its latest sustainability initiative. The bank screened 505 corporate transactions for ESG risks in 2025, compared with 237 transactions valued at over ₦3 trillion in 2024. The significant increase reflects the bank’s growing commitment to integrating sustainability into its core operations.
The bank has integrated ESG risk assessment into its corporate lending, reviewing transactions for sustainability considerations. The initiative has led to more than 200 corrective action plans and the rollout of $200 million in sustainability-linked loans, with 40 per cent directed to female-led SMEs. The move positions FirstBank as a leader in sustainable banking in Nigeria, aligning with global trends towards responsible finance.
The winners: FirstBank, which has strengthened its reputation as a sustainability leader; and Nigerian businesses, which are being encouraged to adopt more sustainable practices. The losers: businesses that fail to meet ESG standards, which may find it harder to access financing; and the Nigerian government, which must create an enabling environment for sustainable finance.
Bottom Line: FirstBank is leading the charge on ESG. Sustainability is becoming a banking imperative. The question is whether other banks will follow suit.