Twelve commercial banks have revealed that they together donated N41.8 billion between 2020 and 2021 as part of their CSR efforts.
The banks report that donations totaled N22.82 billion in 2021, a 27.5 percent increase over the N17.8 billion given the year before.
Companies are urged to donate a portion of their earnings to charity in accordance with their corporate social responsibility (CSR) policy.
Data from the banks’ audited accounts revealed that Zenith Bank topped the list in 2021 with a philanthropic donation of N4.45 billion.
According to a breakdown, the bank contributed N2.78 billion, or the majority of its donations, to several Security Trust Funds.
FBN Holdings is the second highest with N4.35 billion CSR donations in 2021.
Access Bank comes next as it donated N4.1 billion to charitable causes, a 55.9% increase compared to N2.6 billion contribution made in the previous year.
GTCo also sponsored the basketball sport with N20.58 million. Others include promoting financial literacy and financial inclusion drive in Northern Nigeria, Sports Education Support, University of Lagos hostel renovation etc
List of other banks donations to CSR in 2021 are Stanbic IBTC (N1.51 billion) FCMB (N1.48 billion) UBA (N1.41 billion) Fidelity Bank ( N1.38 billion) Union Bank (N1.2 billion) Wema Bank (N724 million) Unity Bank (N671 million) and Sterling Bank (N250 million)
