The
Central Bank of Nigeria (CBN) has said it expects full compliance with the
provisions of the Nigeria Sustainable Banking Principles (NSBP) reporting
template by all concerned institutions by January 2015, saying it is necessary
for a level playing field.
In
line with global trends on sustainability, the CBN on March 6, 2014 issued the
NSBPs reporting template to banks, discount houses and development finance
institutions for compliance.
The
purpose of the reporting template is to provide reporting institutions with a
uniform format for reporting their implementation efforts.
Franklin
Ahonkai, deputy director, sustainability department, CBN, who spoke on
‘Regulatory Reporting and Expectations’, at the NSBP pre-reporting workshop
organised by Access Bank in Lagos, noted that by the circular sent out by the
apex bank reporting institutions were informed that sustainability reporting
will commence in June 2014 with the submission of the one-off report (first
quarter) not later than July 7, 2014.
The
circular, he said, also required that
