By Abubakar Yusuf
Development Bank of Nigeria DBN, was established to serve as an intervention agency to promote enterpreneurship,small scale business,which include Medium and Small Scale Enterprises MSMEs,so as to reposition and return the lost glory of the mid -term business amidst thriving Nigerian economy.
The recent elevation through accreditation by an International agency was a conviction and pass mark of a well thought out programs, and execution of improved indices, capable of generating and sustaining economic reliance of enterprises.
As Nigeria’s foremost Development Finance institution, Development Bank of Nigeria DBN receipt of an Internationally recognised Certificate of Acceptance in line with Sustainable Standards and Certification Initiatives (SSCI), by the World Development Finance Forum in Germany,is an indication of good leadership at the home front and it’s activities.
Less than three years into the inception of the Bank in Nigeria, it will further relive the image of the country,as a developing Nation, with self sustenance efforts towards trade liberalisation and self fulfillment/reliance.
Coming at a time the entire world is gradually coming out of the first wave of COVID-19 pandemic, that had shut down the crucial part of the world economies, without discrimination between the super powers and the growing Nation’s,this will be a great impetus that will prepare the country for the all envisage second wave of COVID-19,that had already began to inflict some pockets of signs in front runner countries.
With post COVID-19,and efforts of governments to intervene through cushioning the effects of the first wave,there is no doubt with the systematic approach of the Development Bank, activities will gradually return to pre COVID-19 era ,and stabilize the domestic/enterprsing activities of many Nigerians.
The European Organisation mindful of the prevailing situations around the globe and efforts of the handlers of the Bank, with supervision , inspection and monitoring being routinely executed directly from the body,it will relive the hope of many Nigerians that the Management of the Bank is not living any stone unturned,to fully reactivate small scale businesses that will revive,sustain and improve the lots of these Enterprises.
As the recipient of the Sustainability Standards & Certification Initiatives’ SSCI,the efforts of the agency is enough impetus to develop other world economies, or a standard use to measure the veracity of other programs, in synergy with other global bodies, that can be adopted by value driven financial institutions.
The receipt of the certificate of credence had also demonstrated alot of commitment,team work, standards,and a template of adoption of a sane financial eco-system in the country.
This will also encourage local Investments and International particpation, that will also guarantee sustainability, capable of keeping afloat the economy of Nigeria, and the global engagements.
The pass mark has also shown that the decision of Nigerian government in placing expertise and people with the pre-requisites experience in the Bank,has paid off within the shortest possible time.
The multiple advantage of this award by the prestigious and elite forum is also an opportunity for the handlers of DBN in Nigeria, to do more to impact more on the economy, through the engagement of more expertise,to enhance sustainability index.
The award bestowed on DBN and one of it’s primary operators,Access Bank is a function of an outstanding commitement and smooth working relationship between the Bank and it’s intermediaries in Nigeria, and not only the access Bank that was included purely on merit,but an improvement and credence on it’s activities.
The double edge arrangement between Nigeria with the global development partners to concieve the Bank,geared towards addressing major financial clog,like the MSMEs, had improve the economic power of enterpreneurship, enterprises, Investment, capacity building through PFIs,given credit guarantee to re-engineer sustained socio- economic development of the insignificant and critical sub sector of the economy.
This is made up through a robust team on the driver’s seat and Professionals, to acquaint the stakeholders taken cognisance of the required and due diligence into accessing the available funds.
In the coming years, DBN as a body,with global intervention/outlook, will be determine to do more to enhance self sustenance, reliance and development of more semi, midterm and robust economic programs, that will stabilize the eco system.
This Piece Is Written By Abubakar Yusuf,From Abuja.
