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Access Bank, Barclays, Others Launch Global Principles For Responsible Banking

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Nigeria’s sustainability champion, Access Bank Plc., today launched the Global Principles for Responsible Banking as one of the Founding Signatories alongside other global banks. This is a further commitment to strategically align its business with the Sustainable Development Goals and the Paris Agreement on Climate Change.

By signing the Principles, Access Bank is demonstrating its commitment towards using its products and services to support and accelerate positive changes in both local and international economies as well as promote lifestyles necessary to achieve shared prosperity for both current and future generations.

Herbert Wigwe, the Group Managing Director of Access Bank Plc., stressed the need for continued collaboration and long-term approach to sustainability, recognizing the benefits of sustainable banking and the positive effect it has on the Bank and society.

“There is a greater need now, more than ever, to promote sustainability in the global financial sector. This is, therefore, the right time to launch the Global Principles for Responsible Banking. At Access Bank, we are committed to setting standards and engendering innovative solutions that address social, economic and environmental challenges. We believe that the Sustainable Development Goals will be better achieved if we can work together, using these Principles as a guide,” he said.

As expressed in the Global Principles for Responsible Banking, Access Bank is convinced that humans and businesses can only thrive in an inclusive society founded on human dignity, equality and the sustainable use of natural resources.

The official launch of the principles which marked the beginning of the most significant partnership to date between the global banking industry and the UN held at the start of the United Nations General Assembly.

“The UN Principles for Responsible Banking are a guide for the global banking industry to respond to, drive and benefit from a sustainable development economy. The Principles create accountability that can realize the responsibility, and the ambition that can drive action,” said UN Secretary-General, Antonio Guterres.

With increasing concerns about climate change leading to a shift in the perception of climate risk among financial institutions and investors, Inger Andersen, Executive Director of the United Nations Environment Programme (UNEP) urged financial institutions to adopt adequate risk management planning, saying:

“A banking industry that plans for the risks associated with climate change and other environmental challenges can not only drive the transition to low-carbon and climate-resilient economies, but it can also benefit from it. When the financial system shifts its capital away from resource-hungry, brown investments to those that back nature as a solution, everybody wins in the long-term.”

The Principles for Responsible Banking will provide Access Bank with an effective framework to systematically identify and seize new business opportunities created by the emerging sustainable development economy, while at the same time enabling the Bank to effectively identify and address related risks.

BIG STORY

Ondo 2020: Mimiko Is Not My Friend, He Remains My Bogus Enemy For Life —- Akeredolu [VIDEO]

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As the date for the Ondo State gubernatorial election draws closer, Governor Oluwarotimi Akeredolu has described his predecessor and former governor Olusegun Mimiko as one of the main enemies standing against his re-election bid on October 10.

Governor Akeredolu stated while featuring live on the Channels TV popular programme, ‘Politics Today’ which was monitored by our correspondent.

Recall that the former governor Mimiko, at the weekend in Ile-Oluji, Ile-Oluji/Okeigbo Local Government Area of the state during the campaign tour of Agboola Ajayi, described his friend and successor in office, Akeredolu, as a disappointment to the good people of the state, saying APC and Akeredolu run an anti-people government in the state.

But Akeredolu, while replying, described Mimiko as a “bogus enemy (sic)”, saying it is better for both of them to separate and go on their separate ways.

The governor, who is seeking re-election, alleged that Mimiko has politically betrayed him as a friend.

Akeredolu said: “I took him (Mimiko) as a friend but I doubt if truly he is my friend. I am not somebody that hides feelings. Reference to him as my friend may probably not be right. To me, he is a bogus enemy and I think he remains so I think for life.

“It is better for us to separate and go our ways because with a friend like him, you don’t need an enemy, so you don’t play this high level of betrayal in politics.

“For me, I am not interested in his own politics, if he thinks he is playing politics, he is fooling himself but for me am not human and I can tell you today that both of them, former Chief Judge of Ondo State, Sehinde Kumuyi and Mimiko are my bogus enemies and they will remain forever. I know God will forgive me, I know that am going to survive it and they will regret the action for life.”

 

Video Credit: Channels TV

 

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BIG STORY

We’ve Not Been Informed Of Any Tariff Hike Suspension From NERC —- Discos

Gbemileke Ajayi

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Power distribution companies said on Monday that they had not received any directive from the Nigerian Electricity Regulatory Commission on tariff suspension.

The Discos are confused about the decision of the Federal Government and labour unions as regards the reversal of the hike in electricity tariff, an investigation has shown.

Senior officials of power distribution companies said on Monday that they were awaiting the NERC to come up with a new tariff plan to be implemented within the two weeks as agreed by the Federal Government and labour unions.

It was also gathered that up till 7 pm on Monday, no order had been released by the NERC to Discos as touching the matter.

It was also gathered that the Discos told the regulator that it would take three to four days for them to change their billing/vending platforms and revert to the old tariffs.

“There is no communication yet from the regulator on that matter and I wonder how that can be implemented because right now, it is causing confusion in the power sector,” a senior official of a Disco in the northern region, who spoke on condition of anonymity, said.

Also, sources at the commission confirmed that although there had been prolonged meetings on the matter at the NERC headquarters in Abuja, no order had been sent out to Discos as of 7 pm on Monday.

“The whole thing is a bit complicated now. There have been a series of meetings about it since (Monday) morning,” an official at the NERC, who pleaded not to be named, said.

The official added, “But up till this time (7 pm) that you are speaking with me, no order has been issued on this matter to power distributors.”

A top official of one of the Discos who was at the meeting said the regulator had yet to tell them exactly what to do.

The Chairman, NERC, James Momoh, neither picked calls nor replied a detailed text message sent to him by our correspondent on the matter.

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Magu Breaks Down In Tears, Begs Salami Panel: I Was Overzealous As EFCC Boss, I Regret It; Please Save My Career

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Former acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu has confessed that he was indeed overzealous during his reign at the helm of affairs of the anti-graft agency.

The ex-anti graft czar stated further that he regrets some of his actions in office but confessed that he became overzealous in his quest to get things done.

Magu thus, appealed to Justice Isa Salami who chairs the panel probing his activities as acting Chairman of the EFCC, to help save his career since he has one and half years more in service before his retirement.

It was learnt that Magu made the confession and appeal on Friday, 25 September 2020 after completing his defense at the panel.

Magu was reportedly given the opportunity to address the panel for the last time after completing his defense.

He reportedly addressed members of the panel in tears. “Please sir, save my career, I have only one and half years left in service,” he pleaded.

While regretting some of his actions while in office, he reportedly said, “I became overzealous in my quest to get things done”.

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