Access Bank Is Said to Plan Nigeria's First Corporate Green Bond
- Lender is looking to raise $41 million in the first quarter
- Nigeria aims to sell 150 billion naira of green bonds by 2021
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Access Bank Plc, which could create Africa’s largest retail lender by customers with the takeover of Diamond Bank Plc, plans to sell the country’s first corporate green bond to fund environmental projects, according to a person with knowledge of the matter.
The bank plans to raise about 15 billion naira ($41 million) in the first quarter for climate-related funds and programs, the person said, asking not to be identified because the talks are private. Access Bank spokesman Amaechi Okobi said he couldn’t immediately comment when contacted by phone.