First Bank of Nigeria has successfully retained its Environmental, Social, and Governance (ESG) leadership title at the prestigious 2025 Euromoney Awards, marking consecutive years of recognition for its commitment to sustainable banking practices and social responsibility.
The award, announced at a high-profile ceremony in June, reaffirms First Bank’s position as a dominant player in ESG standards within Africa’s financial sector. The bank was praised for its strategic integration of ESG principles across core operations, including robust support for green financing, transparent governance structures, and inclusive social initiatives.
First Bank’s Chief Executive Officer highlighted that ESG considerations are deeply embedded in the bank’s corporate strategy. “We are determined to align financial performance with environmental stewardship, social empowerment, and responsible governance,” he stated. He added that the Euromoney award reinforces the bank’s belief that ethics and profitability are mutually reinforcing.
On the environmental front, First Bank disclosed that a portion of its loan portfolio is now directed toward sustainable industries and low-carbon initiatives. The bank has facilitated financing for solar power companies, energy-efficient housing developers, and climate-smart agricultural projects, all while reducing exposure to carbon-intensive sectors.
Social responsibility initiatives also stood out in the evaluation. First Bank’s programs targeting women entrepreneurs, youth financial education, and SME funding were cited as models of community impact. The bank’s financial literacy academies, scholarships, and partnerships with grassroots organizations are credited with boosting access to banking services across underserved regions.
Governance excellence contributed significantly to the award. Independent oversight committees, strict anti-corruption safeguards, and regular ESG performance disclosures demonstrated First Bank’s commitment to transparency. Its board includes ESG-savvy directors, and regular external audits are conducted to ensure compliance with both local and international standards.
Industry analysts welcomed the recognition, emphasising that First Bank’s sustained ESG performance sends a strong signal to regional peers and global investors alike. “Winning ESG awards consistently requires discipline, innovation, and measurable outcomes,” noted one analyst. “First Bank has demonstrated capacity not just to improve across all ESG pillars but to maintain leadership over time.”
Euromoney also recognized the bank’s internal sustainability targets, which include reducing energy and diesel use at branches, improving waste management practices, and deploying solar-powered ATMs. These efforts contribute to cost savings and underline First Bank’s holistic approach to environmental responsibility.
Financial inclusion remains at the core of First Bank’s ESG approach. The bank has rolled out low-cost savings accounts, micro-loans, and digital channels to support unbanked populations. Its partnerships with fintech hubs, incubators, and agricultural cooperatives enable reach into previously underserved markets.
The award judges also noted First Bank’s transparent reporting standards. The bank publishes annual sustainability reports aligned with international frameworks like the Global Reporting Initiative (GRI) and the Task Force on Climate-related Financial Disclosures (TCFD). These disclosures allow stakeholders to assess performance in a structured and accountable way.
Despite macroeconomic headwinds in the region, First Bank’s strong ESG focus is seen as enhancing its risk resilience and brand reputation. “Sustainable finance is about long-term mindset, not short-term obligations,” said the bank’s ESG Director. She reiterated that ecological and social investment decisions are commercially and ethically sound when executed properly.
Corporate governance policies at First Bank include clear whistleblowing procedures, zero-tolerance for misconduct, and board-approved ESG targets. The bank also ensures diversity in leadership, with a goal of increasing women representation in executive roles and bolstering youth participation in decision-making structures.
Next steps for First Bank include expanding green bond issuance, scaling up digital inclusion in rural areas, and enhancing staff training on sustainable practices. The bank is piloting initiatives in carbon footprint analytics and offset projects, aligning with a broader goal of net-zero emissions in operations by 2035.
Stakeholders and civil society organisations congratulated First Bank, emphasizing how leadership by example can shape industry standards. Many noted that the bank’s consistent recognition by international platforms like Euromoney strengthens Nigeria’s ESG credibility on the global stage.
In conclusion, First Bank’s retention of the Euromoney ESG title underscores its commitment to combining financial performance with sustainability, social impact, and transparent governance. With an integrated ESG strategy backed by measurable outcomes, First Bank continues to set benchmarks in Nigeria’s banking sector and provide a template for sustainable banking across the continent.
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