By Innocent Onoh
In the heart of Lagos Island, the majestic image of an elephant greets customers at every branch of First Bank of Nigeria PLC — a symbol of strength, wisdom, and resilience. It is one of the oldest bank emblems in the country, a powerful brand identity proudly displayed across Nigeria and beyond. But while the institution it represents continues to post billions in annual profits and expand its footprint across Africa, the noble creature at the heart of its brand is vanishing from the Nigerian wild.
Today, there are only between 300 and 400 wild elephants left in Nigeria, a shocking statistic that stands in stark contrast to the towering grandeur of the animal’s corporate image. Conservationists are calling for urgent action — and they are placing the responsibility squarely on the shoulders of companies that use exotic wildlife as mascots and emblems.
“Let the good financial standing of the institutions be reflected in everything that concerns them — and that includes the wild species that adorn their corporate logos,” said a wildlife advocate at a recent conservation summit in Abuja.
The Elephant in the Boardroom
When First Bank was founded in 1894, elephants roamed freely across Nigeria. But poaching, habitat loss, and human-wildlife conflict have devastated the population. According to the International Union for Conservation of Nature (IUCN), Africa had an estimated 26 million elephants around the year 1800. By 1979, that number had plummeted to 1.3 million — and it has continued to fall.
Nigeria has not been spared. The country has lost a significant portion of its elephant population in the last few decades, and unless urgent intervention occurs, these majestic beasts — proud symbols of strength and memory — may soon disappear altogether.
The irony is bitter. While Nigeria’s oldest and most prestigious financial institution celebrates the elephant as a symbol of endurance, loyalty, and trust, the real animal is struggling to survive just a few hundred miles from the corporate boardroom.
Corporate Symbols, Real Responsibilities
Elephants are not the only animals under threat. Lions, zebras, pangolins, and even crocodiles — all animals that grace the logos of financial and commercial enterprises in Nigeria — are now listed as vulnerable, endangered, or critically endangered by the IUCN.
Many financial institutions have subscribed to environmental sustainability frameworks, aligning with global Environmental, Social, and Governance (ESG) standards. Initiatives like tree planting, flood control projects, and green banking services are commendable. But environmental analysts argue that these actions are only a start — and corporations must do more to safeguard the species they proudly showcase as brand representatives.
Dr. Mark Ofua, West Africa Spokesperson for Wild Africa, believes that companies like First Bank can and must lead the way.
“Multinational companies that use animals as mascots, such as First Bank of Nigeria with its elephant logo, can support conservation in several impactful ways,” he said during a recent training program for environmental journalists in Lagos.
He outlined several strategies that corporate Nigeria can adopt:
- Financial Contributions to Conservation
Companies can allocate a portion of their profits to reputable conservation organizations. First Bank could partner with the International Elephant Foundation (IEF), Elephant Crisis Fund, or Nigerian groups like the Africa Nature Investors Foundation (ANI). The American fashion brand Ivory Ella, which also uses an elephant in its branding, already commits a percentage of its sales to elephant conservation — a model First Bank could emulate.
- Sponsoring Anti-Poaching Initiatives
With Nigeria’s elephant population cut by over 50% in just two decades, anti-poaching efforts are critical. Funding ranger training, surveillance drones, and snare-removal operations could make a tangible difference. In parks like Okomu and Yankari Game Reserve, where ANI and other local organizations operate, financial support from the private sector could tip the balance in the elephants’ favor.
- Community Engagement and Education
Wildlife conservation cannot succeed without the support of local communities. First Bank could fund education programs modeled after Botswana’s Elephants for Africa, adapting them for Nigerian schools near key habitats like the Omo Forest Reserve. These programs promote coexistence and reduce human-elephant conflict, which is a growing challenge as rural communities expand.
- Branding for Biodiversity
Why not turn conservation into a core part of marketing? First Bank could launch eco-conscious financial products — like green bonds or sustainable savings accounts — and link them directly to wildlife conservation efforts. Elephant Gin, a UK-based distillery, donates 15% of profits to elephant protection and incorporates conservation messaging in its branding. Nigeria’s corporate brands can do the same.
- Conservation Funds and Licensing Fees
A biodiversity conservation fund, underwritten by companies using wildlife imagery, could provide consistent financing for habitat protection. Some conservationists suggest a licensing fee model, where every use of an animal in branding supports a corresponding conservation project. First Bank could establish such a fund in Nigeria and invite other institutions to contribute.
- Strategic Partnerships
Collaborating with local and international NGOs like the Wild Planet Trust, Conservation Lower Zambezi, or the Nigerian Conservation Foundation can yield culturally relevant and sustainable results. Joint programs for habitat restoration, wildlife monitoring, and ranger welfare could transform conservation in Nigeria.
- Employee and Stakeholder Involvement
Engaging bank staff and customers can create a ripple effect. Volunteer programs, tree-planting drives, and awareness walks can help build a culture of environmental stewardship. First Bank’s vast network offers a perfect platform for such campaigns.
From Symbol to Steward
The call to action is gaining momentum. Recent legislative developments offer a glimmer of hope. The Nigeria Endangered Species Conservation and Protection Bill, 2024, recently passed its third reading in the House of Representatives. The bill proposes stricter penalties for wildlife crimes, fast-tracks prosecutions, and allows the recovery of assets linked to environmental offenses.
Mary Rice, Executive Director of the Environmental Investigation Agency UK, described the bill as a critical move:
“This legislation demonstrates Nigeria’s determination to secure regional security and disrupt international trafficking networks.”
Peter Knights, CEO of Wild Africa, hailed it as a landmark moment:
“This is a great step forward for Nigeria to lead the region in tackling wildlife crime head-on.”
Even more impressive is that the bill is the brainchild of a sitting legislator, Hon. Terseer Ugbor, Deputy Chairman of the House Committee on Environment.
“We are modernizing our laws to protect the ecological and economic value of our biodiversity for future generations,” said Ugbor.
Corporate Nigeria: Time to Act
This moment demands action, not just applause. First Bank and other corporate institutions have the resources, visibility, and moral obligation to preserve the very animals they present as reflections of their strength, vision, and values.
Union Bank and its stallion must consider the fate of Nigeria’s dwindling zebra population. Peugeot, with its iconic lion, must not forget that lions have vanished from much of West Africa. Every brand that leans on the prestige of the animal kingdom must now give back.
The stakes are too high for symbolic gestures alone. Financial institutions — custodians of wealth, trust, and social influence — must become custodians of biodiversity too.
Corporate logos must do more than inspire. They must protect.
Innocent Onoh is an environmental journalist and advocate for wildlife conservation in Nigeria.