The involvements of Unity Bank Plc in the Nigeria's agricultural sector of Nigeria has earned them an award from the Central bank of Nigeria despite being a new bank.
Unity Bank Plc was crowned for their Sustainable Transaction of the Year in Agriculture.
The bank won the prize for its compliance with the sustainable banking principles as it relates to the management of Environmental and Social Risk as set out bythe apex bank for adoption by banks, discount houses and development banks.
At the just-concluded Bankers’ retreat held in Lagos, CBN commended Unity Bank for its efforts in promoting the Anchor Borrowers Program, ABP, Rice Farmers Association of Nigeria, RIFAN project, adding that the lender deserves this award because of the role it played in actualization and management of the project.
The active involvement of Unity Bank in various financing schemes has resulted in creating huge social and economic impact on the income of households, involving over 270,000 participating small holder farmers thereby boosting, not only the gross domestic product, but also helping to achieve self-sufficiency in food production.
Commenting on the development, Mrs. Tomi Somefun, the Managing Director/Chief Executive Officer of the bank, dedicated the award to all farmers and businesses in agriculture value chain.
She added: “We have successfully on-boarded over 90,000 hitherto financially excluded farmers and generated bank verification number for them to facilitate financial and banking transaction. Capacities of about 60 agro input suppliers were expanded through provision of facilities and financial advisory services’.
“Safeguards shall exist to protect rare and endangered species, preservation of conservation zones and protection of grazing and forest reserves.”
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