Ugo Aliogo
As part of efforts to promote the highest standards of ethics, education, and professional excellence in the investment industry, First Bank Limited has organised ethics challenge competition for Universities in Nigeria.
The competition which is aimed at university students provides a platform for students to be given case studies based on the CFA ethics, codes and standards, and the integral part of the CFA curriculum. The competition ran in regional level in Abuja and Lagos and the National Final was in Lagos.
The CFA curriculum is three levels of examinations and the only subject that is tested three times in every level is ethics.The competition embodies the mission of CFA institute to promote the highest standards of ethics, education, and professional excellence in the investment industry,
Speaking at the event in Lagos recently, Member, Board of Trustees, Samuel Asabia Chair Business Ethics, University of Lagos, First Bank Endowment Programme, Mrs. Adeola Asabia, said First bank would want to be seen in the forefront of trying to ensure that the ethics are properly adhered to in the financial industry.
She also stated that the bank wants to be seen as that institution that promotes fair play, responsibility and honesty, adding that with privilege comes sacrifices, “and that is ensuring that the bank’s reputation is not lost.”
According to Asabia, “The importance of this event is to improve the transparency and ethics in the marketplace. Also, to give confidence to investors, not only local investors, but also foreign investors who want to go into the financial industry. Ethics is about right and wrong. It is a moral dilemma, but there are codes of conducts and rules of engagement in the financial industry and so you want these young people to know what is ahead of them, so that when they are players in the financial market, they will play with integrity, honesty and in a fair play ground. There has been an abuse in the market place in terms of misappropriation and insider trading, by those who have been given the privilege, to play in the financial industry, therefore the regulators have decided that it is important to ensure that investors’ confidence is boosted and the rules of engagement are based on honesty and truthfulness.”
