Build capacity for sustainable finance, DMO urges trustees
L-R: Vice President, Association of Corporate Trustees (ACT), Adesola Aje; Chairman, 2024 Luncheon Commiittes, Mr. Adekunle Awojobi; Director, Office of Director General, Securities and Exchange Commission, Olatunde Kamali; Director-General, Debt Management Office, Ms. Patience Oniha; President, Association of Corporate Trustees, Mrs. Omolola Iyinolakan; Managing Director, Emerging Africa Trustee Limited, Felicia Sonubi; Associate Director and Head of Consulting, Augusto Consulting Limited, at the 2024 Business luncheon of the Association of Corporate Trustees’ in Lagos on Thursday
Build capacity for sustainable finance, DMO urges trustees
Nike Popoola
Ms. Patience Oniha, Director-General of the Debt Management Office, has called on Corporate Trustees in the country to build capacity in the area of Sustainable Finance.
She made these remarks during her Keynote Speech at the 2024 Business Luncheon of the Association of Corporate Trustees, in Lagos on Thursday, 20th June 2024, themed ‘Sustainable Finance: The Role of Corporate Trustees’.
The event drew significant participation from stakeholders in the financial sector, including representatives from the Securities and Exchange Commission.
Ms. Oniha emphasized the pivotal role Corporate Trustees play in safeguarding investors’ interests, particularly as substantial investments, not only from the government but also from the private sector, are expected in the Nigerian Capital Market.
She reiterated the importance of Corporate Trustees being well-equipped to deliver the required services to ensure investor confidence, since they are the watchdogs of the Nigerian Capital Market.
She commended the association for choosing a highly relevant theme, noting global environmental challenges such as escalating temperatures, widespread erosion, and floods affecting not just Africa but regions worldwide.
Highlighting the increasing global awareness of these issues, Ms. Oniha pointed out that sustainable finance has become a critical focus area.
She underscored Nigeria’s commitment to international agreements addressing climate change and the United Nations’ Sustainable Development Goals. She stated that “…as a country, we are committed to protecting our environment and addressing issues of climate change.”
Speaking on the choice of the theme, the President, Association of Corporate Trustees, Mrs. Omolola Iyinolakan, said “As Corporate Trustees, we operate in the financial services sector and have explored other areas of interest in the past.
However, with globalization and environmental changes, we believe that the issue of sustainability is an all important one and sustainable finance is an issue on the front burner that should be taken with all the seriousness it deserves.”
“We are entrusted with safeguarding the interests of investors, even as they explore investments in diverse instruments to optimize returns. For eco-friendly investments, investors may lack awareness of the required investment criteria. The Corporate Trustee assumes a critical role in ensuring comprehensive compliance.”
She concluded by saying “Sustainable finance is a very vast area of interest and Nigeria has barely scratched the surface. Opportunities abound not just for Capital Market Operators but also for investors as well.”
The Chairman of the 2024 Business Luncheon Committee, Mr. Adekunle Awojobi, stressed the importance of convening such forums to discuss strategies for securing sustainable financing to foster economic growth across various sectors.
