Nigeria’s Banking Sector Advances in Sustainability with Fidelity Report

By Jemimah Wellington, JKNMedia Reporter

SETTING A new standard within the Nigerian banking sector, Fidelity Bank Plc has become the first financial institution in the country to publish its 2023 ISSB-Compliant Sustainability and Climate Report.

This report, made available on June 30, 2024, via the bank’s official website, details key aspects such as governance, strategy, risk management, and community engagement efforts during the preceding financial year.

The bank’s Chairman, Mr. Mustapha Chike-Obi, highlighted the significance of transparency and innovation in fostering trust among stakeholders, stating, “Our commitment to sustainability includes active integration of climate-related goals into our core business strategy.”

Prepared in adherence to IFRS S1 and S2 standards, the report reinforces Fidelity Bank’s leadership within Nigeria’s financial services sector. Mr. Kevin Ugwuoke, Executive Director/Chief Risk Officer, emphasized the bank’s dedication to embedding Environmental, Social, and Governance (ESG) considerations in all operations.

“We are proud to lead the market with our 2023 Sustainability and Climate Report, demonstrating our proactive approach to managing climate risks,” said Mr. Ugwuoke.

A press statement notes that Fidelity Bank’s proactive stance on sustainability recently earned it recognition among the top Nigerian banks for ESG performance, according to a survey by the Independent Project Monitoring Company (IPMC) Limited, giving further insights into Fidelity Bank’s 2023 Sustainability and Climate Report which can be obtained by visiting

Furthermore, the states reveals that with over 8.3 million customers served through 251 business offices across Nigeria and the United Kingdom (UK), Fidelity Bank remains a leading institution, recognized for its commitment to sustainable banking practices and innovation in financial services.

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