GREEN BANKING AWARENESS, CHALLENGES AND SUSTAINABILITY IN NIGERIA

Abstract

T he meager rate of green banking awareness and sustainability in Nigeria is traceable to a lack of adequate educational, nancial, and Information Communication Technology infrastructure in Nigeria. The ndings document that banks in Nigeria have various green banking products that they showcase, but they have not given them their correct nomenclature. Poor knowledge of green banking among customers and bank staff is a constraint to its awareness. The study reveals that educational level, age-group, lack of basic ICT knowledge, and illiteracy among rural and urban dwellers have negative effects on green banking awareness and operation in Nigeria. Banks have not contributed to compensating the states, organizations, and individuals that have experienced natural disasters, and the impact on the eco-system has not been benecial. As a result of these factors, the benets and sustainability of green banking are not certain. The study concludes that addressing the issue of education and lack of infrastructure will support efforts towards sustainability of green banking activities in the country. Banks should improve on their corporate social responsibility. The collaboration of government and service providers should be on par in order to initiate the policies that will make green banking activities user friendly.