Corporate Governance

   
 

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Corporate Social Responsibility

OverviewEducationEconomic
DevelopmentHealth and WelfareSponsorships

OVERVIEW

We maintain a long-term perspective in relation to our corporate social responsibility and engage with society on a significant level, with a view to empowering and developing the communities in which we operate. Despite the economic challenges, we have remained focused and shown leadership by tackling key issues that matter to all our stakeholders and society at large.

In retrospect, we are proud of our investments and believe that dialogue, commitment and the simplicity of our processes have formed the foundations of our progress. This approach will fundamentally influence our engagements. We are aware that our stakeholders care about significant unifying issues such as health and welfare, economic development, education, natural disasters and other socio-economic causes and they rightly expect us to act on these. But they also want to feel actively engaged in the solutions. We firmly believe that community action is most likely to be meaningful, to have positive impact and to be sustained, if it is genuinely local and involves local people. So while we have strong national initiatives, we invest in delivering them locally.

This report shows how we remained true to our promise to contribute to the growth and development of the nation beyond the provision of financial services. Our ability to respond to crises is one of our traditional strengths as demonstrated in our financial support to the flood disaster victims in Sokoto State, as well as our support for, and investment in, important national initiatives such as the 16th NESG summit, or culture and heritage events, such as the Calabar carnival 2010. We are also of the belief that local actions and investments mark our progress, whether it is through the various partnerships relating to community development, health or education, or other projects supported by FirstBank.

Going forward we will continue to maintain our traditional approach – supporting institutions that maintain and improve society. We will, in addition, introduce transformational activities that will seek to respond to cause rather than effect. We will also work hard to find new ways to enable our staff and customers to participate directly in causes they care about. Our approach will reflect our desire to play a positive role in society and a leading role in our industry to build a sustainable future. We are genuinely excited by what the next year holds.

Focus Areas

Our rationale

We focus on supporting community projects across the six regions of Nigeria in the following key areas:
  • education;
  • economic development; and
  • health and welfare.
In addition to the above we have a strong commitment to sports, culture and heritage, as demonstrated by sponsorships of key events.

Environmental policy

FirstBank recognises that as a leading financial institution in Nigeria it must take its social and environmental responsibilities seriously.

Although the nature of our business is not harmful or threatening to the environment, we are determined to conduct business in a responsible, fair and honest manner, and in keeping with national and international guidelines on environmental protection. Our Environmental policy encourages staff and business associates to comply with environmental legislation. Through our corporate social investments, we have demonstrated that we aim to promote environmental protection and culture conservation.

ENVIRONMENTAL AND SOCIAL RISK IN LENDING AND PROJECT FINANCING

We have long recognised the peculiarities surrounding project financing in relation to the environment and have now adopted the Equator Principles, which gives us the opportunity to formalise our commitment and operate our business in accordance with key environmental considerations to ensure that the projects we finance and endorse are developed and executed in a socially responsible and environmentally sound manner.

FirstBank adopted these principles for a number of reasons:
  • Corporate Governance and Management Systems;
  • Stakeholder Management.

OUR PEOPLE

By managing our business efficiently and responsibly and collaborating in sustainable and progressive agreements, we have ensured job security and personal development for our staff. Our staff grow with us; many move to other jobs within the business, gaining valuable leadership, qualifications and professional skills along the way. Having access to opportunities keeps people motivated and committed, delivering great service.

Our business environment encourages staff to work as a team, trust and respect one another, listen, support and appreciate one another, while sharing knowledge and experience. Our shared values are created by our people. We therefore share the same values that make good business sense. As one of the largest banks we provide diverse career opportunities for thousands of people worldwide – from positions on the bank floor, to roles cutting across various impactful disciplines and aspirations.

We work hard to create a culture of trust and respect, where managers cultivate the best in our people. We know people work better when they are given the space to make decisions and take responsibility, and we recognise the work they do and reward them. We encourage people to learn from their mistakes
  
 

  Share Price

17-Feb-12

 

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Email: investor.relations@
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