ENVIRONMENTAL AND SOCIAL RISK POLICY COMPLIANCE

Bank of Industry (BOI) and its Subsidiaries shall adopt mandatory Social and Environmental Policy Standards for all of its projects and programmes. The objectives of the policy include:

(I.) Convey BOI’s commitment to sustainable development which is an integral part of its approach to risk management as well as its developmental mandate to accelerate the pace of industrialization of Nigeria.

(II) Convey BOI’s commitment to promoting environmentally sound and sustainable development in the full range of its operations by fostering the establishment, expansion and modernization of industrial projects and shall put into practice through this policy its commitment to environmental and social sustainability.

(III) Ensure that BOI shall encourage its customers and relevant stakeholders to actively manage environmental and social risk(s) and impact(s) inherent in the activities in which they are involved.

(IV) Ensure full and effective stakeholder engagement, including through a mechanism, to respond to complaints from project-affected people.

The Standards will be strengthened by an Accountability Mechanism with two key components:

(A) A Compliance Review to respond to claims that BOI is not in compliance with applicable environmental and social policies; and

(B) A Response Mechanism that ensures individuals, peoples, and communities affected by projects have access to appropriate grievance resolution procedures for hearing and addressing project-related complaints and disputes.

BOI will investigate alleged non-compliance with the Social and Environmental Standards from stakeholders affected by the project and will recommend measures to address findings of non-compliance.

BOI shall assist stakeholders affected by the project, its partners (Governments, NGOs, Businesses) and others to jointly address grievances or disputes related to the social and/or environmental impacts of BOI -supported projects.

Any affected Persons, Organizations or Communities can ask BOI to either:

(I) Pursue a compliance review examination of its compliance with the social and environmental commitments.

(II) Attempt to resolve complaints and disputes by the response mechanism, or

(III) Ask for both a compliance review and for an effort to resolve their concerns.

To send a report or complaint about Projects implemented by BOI which may cause environmental or social harm, please click on the Project Complaint Form here or send an email to customercare@boinigeria.com; compliance@boinigeria.com.

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