In the face of accelerating climate risk, evolving financial priorities, and a generational shift toward values-driven leadership, the Financial Institutions Training Centre (FITC) hosted its inaugural Sustainability ESG Conference on June 26, 2025, in Lagos, Nigeria — a landmark event designed to signal that Africa is not merely participating in the global sustainability conversation, but prepared to lead it.

Held under the theme “Building a Prosperous Future: Unlocking Growth Opportunities Through Sustainability & ESG Innovation,” the conference drew an influential cross-section of stakeholders from banking, finance, academia, fintech, public policy, and international development. More than a convening, the event was a strategic declaration: the future of African prosperity will be rooted not in extractive models or external aid, but in homegrown sustainability, systems thinking, and inclusive growth.

In her welcome address, Dr. Chizor Malize, Managing Director and Chief Executive Officer of FITC, delivered a powerful message on the transformative potential of Environmental, Social, and Governance (ESG) principles for Africa’s future. She emphasized that ESG must no longer be perceived as a corporate obligation or checklist, but rather as a strategic operating system — one that determines how institutions innovate, grow, and lead responsibly in an increasingly complex world.

“ESG is not a buzzword. It is the business language of the future,” she asserted. “Through this platform — and through the FITC Sustainability and ESG Institute — we are building the competencies, coalitions, and courage to help institutions across Africa lead in this new era.”

She further informed that FITC, through its Sustainability and ESG Institute, is actively equipping institutions with the competencies, coalitions, and courage required to integrate ESG into core business strategies. The organization’s role, she added, has evolved beyond knowledge dissemination to include shaping national and continental agendas through thought leadership, policy advocacy, and capacity development.

Dr. Malize also emphasized the strategic importance of Lagos as the host city, describing it as Africa’s commercial heartbeat and a symbolic launchpad for ESG transformation on the continent. She called for bold leadership, cross-sector collaboration, and purpose-driven innovation to ensure that Africa's development is not only inclusive but sustainable for generations to come.

The event’s tone was intentionally bold. Rather than echoing familiar concerns around ESG barriers, the conference challenged attendees to consider how African institutions could move from vision to implementation — and from compliance to competitiveness.

Representing Mr. Philip Ikeazor, Deputy Governor of Financial System Stability at the Central Bank of Nigeria (CBN) and Chairman of FITC’s Board, Mrs. Temitope Akin-Fadeyi reaffirmed the CBN’s commitment to shaping a sustainability-aligned financial ecosystem.

“Through progressive regulation and capacity building, we are equipping institutions to act not just as economic drivers, but as enablers of inclusive, long-term value creation.”

The Nigeria Deposit Insurance Corporation (NDIC) echoed this call for integration, with its Acting MD, Mrs Emily Osuji noting that ESG must not be siloed or symbolic. It must shape how institutions govern, invest, and prepare the next generation.

“Sustainability cannot be a siloed agenda,” she warned. “It must be embedded in how we govern, how we invest, and how we prepare the next generation.”

She highlighted that ESG is now central to institutional resilience and global competitiveness and stressed that organizations — particularly in Nigeria’s financial system — must see ESG not only as a compliance requirement but as a tool for unlocking innovation, attracting capital, and mitigating long-term risks.

Continuing, the Acting MD detailed NDIC’s proactive steps in integrating sustainability into its operations — including the implementation of a corporate sustainability policy, the Waste-to-Wealth recycling initiative, the adoption of electronic document management systems to reduce paper use, and alignment with the Central Bank’s Sustainability Framework for banks.

She highlighted NDIC’s early preparation to adopt the IFRS Sustainability Disclosure Standards (S1 and S2), under the voluntary window set by the Financial Reporting Council, positioning the institution ahead of the 2028 mandatory compliance deadline for public interest entities. In conclusion, Mrs. Osuji, asserted that ESG must be viewed as a strategic lever for national prosperity, not just an environmental concern. She underscored the urgent need for institutions to localize global sustainability goals in ways that reflect Nigeria’s socioeconomic realities.

“A prosperous future must be both environmentally sustainable and economically smart. We must invest in solutions that solve real problems — from clean energy and climate-resilient agriculture to inclusive finance and green infrastructure.”

The keynote address by Prof. Fabian Ajogwu (SAN), a renowned corporate governance expert and Chairman of the FITC ESG Advisory Board, elevated the dialogue further. Drawing parallels between global benchmarks and African realities, Prof. Ajogwu emphasized that sustainability is not a public relations tool — it is a governance imperative.

“Companies that fail to adopt sustainability as a core governance principle will be outperformed and out funded,” he warned. “The cost of inaction is rising. ESG must not be cosmetic — it must be strategic.”

He called for the establishment of a National ESG Framework — grounded in African values and contexts yet benchmarked against global standards. Ajogwu praised Rwanda’s institutional discipline as a regional example, urging Nigeria to take similar steps to formalize ESG alignment through national policy and institutional will. His message resonated across the board: ESG isn’t a Western import; it is a competitive edge — and countries that embed it now will lead tomorrow.

The conference had three exciting plenary sessions that examined the theme with deeper insights.

The first plenary session was on the topic “Green is the New Gold: Harnessing ESG Innovation for Scalable Business Growth”

The panel focused on climatic actions and the operational sustainability of the environment. The lead speaker, Mr. Kingson Elendu, who is the Head of Sustainability and Traceability at Medplus Pharmacy, emphasized the importance of starting with a materiality assessment to identify key environmental issues.

“Organizations must be intentional about their environmental actions. Start small, assess what matters most to your operations, and invest in sustainable solutions like renewable energy and recycling.”

In her contribution on impactful CSR and inclusive empowerment, Ms. Ugochi Nweke-Ndoumou of Zenith Bank provided an extensive overview of Zenith Bank’s commitment to social sustainability. “Social sustainability isn’t about token donations—it’s about long-term, measurable impact. We integrate environmental stewardship and governance principles into every CSR intervention to drive real change.”

Mr. Olufemi Shobanjo, Managing Director of NGX Regulators Ltd addressed the often-overlooked challenge of governance as a sustainability pillar.

He highlighted that corporate governance involves ethical decision-making, balanced stakeholder engagement, and transparency. The NGX, through regulatory oversight and frameworks like the Nigerian Code of Corporate Governance (2018), promotes the maturity and ethical responsibility required of listed companies. Mr. Shobanjo emphasized that governance ensures sustainability by aligning operations with ethical, inclusive, and long-term strategic goals.

“Governance is what transforms good businesses into enduring institutions. It’s about doing what is right—not just what is legal. The real sustainability of businesses depends on their ability to balance stakeholder interests and adopt robust governance structures.”

The second plenary session was on “One Planet, One Economy: Collaborative Pathways to Inclusive and Sustainable Growth” with Engr. Lovelyn Okoye – Senior Sustainability Manager, 7Up Bottling Company as lead speaker. She stressed that sustainability is no longer an ethical afterthought—it is a strategic imperative and a metric of resilience.

Engr. Okoye emphasized the distinction between sustainability as a holistic principle and ESG as a measurable framework that must be embedded in business DNA

Against the backdrop of accelerating climate risks and widening social disparities, the panel delivered a timely and powerful dialogue on the imperative of uniting environmental consciousness with economic resilience

Grace Amadi, General Manager of Joint Venture Partner Relations at Seplat Energy, unpacked the complex challenge of balancing energy access with environmental responsibility in Nigeria’s resource-based economy. She positioned ESG not as a compliance requirement, but as a strategic pillar of growth and innovation.

Her insights underscored that ESG-aligned infrastructure and stakeholder collaboration are essential to achieving climate-smart industrial development in Africa.

The last plenary of the conference was on “Building a Sustainable Future: Governance, Innovation, and Inclusive Development for Africa's Next Generation”.

Ms. Ivana Osagie, Founder and CEO of PWR Advisory, provided a concise yet impactful overview, setting the context for Africa's sustainable future. She asserted that amidst this turbulence, "this could be Africa's finest hour." This optimism stems from Africa's potential to offer solutions to global challenges, provided it focuses on boosting intercontinental connection and trade.

“This is Africa’s finest hour,” she declared. “We contribute less than 4% to global emissions, yet hold 60% of the world’s uncultivated arable land, immense solar potential, and the youngest population on Earth. The question is no longer what we lack — but how we lead.”

She and other panelists urged stakeholders to resist copying and pasting frameworks from the West. ESG, they argued, must reflect local priorities: youth employment, energy equity, agricultural resilience, gender inclusion, and social mobility — not just carbon targets. This call to contextualize ESG was not theoretical — it came alive in the testimonies of homegrown innovators, impact-driven startups, and youth-led enterprises showcased throughout the day.

The day’s plenaries also tackled the hard questions, offering down-to-earth insights into ESG integration at the operational level, tackling the dilemma around measurement, and sharing practical information on how ESG is funded and who leads it.

Blended finance and patient capital emerged as a critical theme. Many social enterprises and climate-focused startups remain locked out of traditional capital markets — not due to lack of impact, but due to outdated risk models. The solution? Reform capital systems to incentivize long-term value. ESG-aligned businesses need not just grants, but access to commercial capital with development-aligned metrics.

Data credibility and transparency also dominated discussions. As pressure grows for ESG disclosures, small and mid-sized enterprises — especially in Africa — risk being left behind due to lack of standardized tools. Panelists called for regionally relevant ESG reporting frameworks that lower the barrier to entry while upholding investor-grade integrity.

At the boardroom level, speakers emphasized that governance must evolve beyond tokenism. ESG cannot be relegated to CSR departments — it must shape how boards are composed, how risks are assessed, and how performance is measured. Gender equity, in particular, was cited as a growth driver, not just a fairness metric.

Finally, capacity building was identified as both a challenge and a solution. Africa must develop its own pipeline of ESG-literate professionals — auditors, policymakers, risk managers, investment analysts, and technologists — to steward this agenda at scale. That means retooling educational curricula, building mentorship networks, and funding specialized research.

Nothing illustrated Africa’s ESG potential more than the showcase of startups turning sustainability into strategy. One standout was Switch Recycling Innovations, a Nigerian social enterprise converting plastic waste into digital value — and helping underserved communities pay for education and healthcare using recyclables.

They have created over 2,800 digital wallets — just by helping people turn waste into wealth. This is an effective ESG you can touch. ESG that works.

Other featured ventures included agritech firms leveraging solar-powered storage to reduce food waste, and fintech startups offering climate insurance to smallholder farmers. These were not theoretical models. They were proof of the concept that ESG, when rooted in local problem-solving, delivers real social and economic returns.

Ms. Abimbola Agbejule, a seasoned sustainability expert, delivered an illuminating breakdown of ESG fundamentals, bridging abstract principles with real-world examples. She emphasized that individual actions matter—reusing plastics, switching to energy-efficient appliances, and embracing clean energy all contribute to a healthier planet. Corporates, meanwhile, must evaluate how their materials, operations, and waste impact environmental sustainability.

Agbejule reinforced that ESG is not an abstract buzzword but a collective responsibility spanning individuals, corporates, and public institutions.

This sentiment echoed throughout the event: that ESG is not just a technical agenda. It is a moral and generational imperative. And in Africa, it must prioritize dignity, access, and opportunity — not just emissions reduction.

The conference marked not just a moment of reflection, but a pivot toward institutional action. Through its newly launched Sustainability & ESG Institute, FITC is poised to become a pan-African knowledge hub for ESG capacity building, policy incubation, and systems change. Dr. Malize closed the event with a call to collective courage:

“This is only the beginning. We must continue to shape the policies, fund the innovation, and train the talent that will define Africa’s sustainable future.”

By bridging regulators, private sector leaders, academics, and civil society, FITC is laying the foundation for a new economic model — one where growth is not just rapid, but responsible. One where profitability and purpose co-exist. One where ESG is not a trend — but a tool for transformation.

If there was one takeaway from the FITC Sustainability & ESG Conference, it was this: Africa’s sustainability era has begun. And FITC is not just documenting it — it is designing it. As institutions across the continent face a crossroads between legacy systems and future possibilities, ESG offers a unifying framework — one that redefines leadership, prioritizes people, and prepares Africa for a future shaped by innovation, resilience, and responsibility.

The conference also made clear that this journey will demand collaboration at an unprecedented scale — among regulators and disruptors, public and private sectors, funders and founders. ESG cannot thrive in silos. It requires ecosystems that share data, align incentives, and hold each other accountable.

“Progress in isolation is not sustainable progress,” noted one speaker. “We must connect our efforts and commit to mutual success.”

From embedding ESG in board governance and procurement policies, to rethinking education and entrepreneurship through a sustainability lens, the opportunities ahead are vast — but only if seized with urgency.

The message was clear: Africa’s path to prosperity will not be built solely on GDP growth, but on sustainability metrics, inclusive institutions, and bold, values-aligned leadership. And as FITC convenes more voices and builds stronger bridges, that future becomes not just possible — but inevitable.

FITC is Africa’s innovation-led knowledge and professional services institution, delivering research, capacity building, and advisory solutions across financial services and the public sector. Established in 1981 by the Bankers’ Committee (CBN, NDIC, and Nigerian licensed banks), FITC is driving the continent’s transition into a knowledge-powered, sustainability-ready economy.