First Bank of Nigeria Limited, commonly known as FirstBank, has reaffirmed its commitment to sustainable finance through its strengthened partnership with the United Nations Global Compact (UNGC). The bank made this known in a statement issued on Thursday, following its participation in the recently concluded Fourth International Conference on Financing for Development (FfD4), hosted by the United Nations Department of Economic and Social Affairs in Seville, Spain.
The FfD4 conference, a major global forum, brought together world leaders, policymakers, financial experts, and private sector stakeholders to discuss new approaches to bridging the growing financing gap required to achieve the Sustainable Development Goals (SDGs). A key focus of the event was how to unlock capital for development in fragile economies and underserved regions, a challenge that continues to hamper growth in countries like Nigeria.
FirstBank’s Chief Risk Officer, Mr. Patrick Akhidenor, represented the bank at the high-level conference. He spotlighted the bank’s ongoing efforts to bolster resilience finance in Nigeria through innovative funding initiatives. Akhidenor highlighted two of the bank’s flagship programmes: the Solar Equipment Financing initiative and the revamped FirstGem Fund.
“We are committed to driving sustainable finance and unlocking capital for development. Our partnership with UNGC and participation in the FfD4 Conference demonstrate our dedication to innovative finance solutions that address the SDG financing gap,” Akhidenor stated.
FirstBank’s Solar Equipment Financing initiative is tailored to increase access to renewable energy solutions in Nigeria, particularly in rural and off-grid communities. By providing accessible financing options for solar energy equipment, the bank is contributing to energy sustainability, reducing dependence on fossil fuels, and promoting environmental sustainability.
The FirstGem Fund, on the other hand, is focused on empowering women entrepreneurs and promoting gender-inclusive financing. It provides funding support, capacity-building opportunities, and tailored financial products for women-owned businesses across diverse sectors such as education, healthcare, agriculture, and retail.
At the conference, Chief Executive Officer of the United Nations Global Compact, Sanda Ojambo, emphasised the critical role of the private sector in developing scalable and inclusive financial models that can drive meaningful impact in fragile and underserved regions.
“The private sector must play a central role in shaping fit-for-purpose, scalable finance solutions. De-risking tools and blended finance can help unlock capital and drive meaningful impact,” Ojambo said.
FirstBank’s collaborative approach with Development Finance Institutions (DFIs) and its SMEConnect platform further underscores its capacity to lead Nigeria’s transition to sustainable finance. The SMEConnect hub offers small and medium enterprises access to training, business advisory services, networking opportunities, and customised financing options. These services are designed to foster SME growth and sustainability in strategic sectors of the economy, including health, education, and retail.
The bank’s strategic alignment with the United Nations Global Compact also reaffirms its commitment to responsible banking, environmental stewardship, and social impact. As a UNGC signatory, FirstBank is dedicated to upholding the ten principles of the Global Compact, which cut across human rights, labour standards, environmental protection, and anti-corruption.
FirstBank’s efforts in sustainable financing align with Nigeria’s broader development priorities, especially in closing the SDG financing gap, improving energy access, and supporting inclusive economic growth. By fostering partnerships between the private sector, international institutions, and government agencies, FirstBank is contributing to a holistic approach to financing for development.
As the global community intensifies efforts to achieve the 2030 Agenda for Sustainable Development, FirstBank’s continued investment in innovative financing mechanisms places it at the forefront of private sector contributions to Nigeria’s sustainable development journey. The bank’s participation at the FfD4 Conference also positions it as a key voice in global discussions on development financing and the future of sustainable banking in Africa.
