The Chartered Institute of Bankers of Nigeria (CIBN) on Saturday said it has begun the process towards building a banking school to further enhance professionalism and financial ethics in the banking sectors.

The institute said the project, in addition to its ongoing capacity-building certification programmes, was meant to promote ethics and professionalism in the sector.

Ken Opara, president and chairman of the council, CIBN, said this while making an opening speech at the institute’s hybrid 2024 Graduates’ Induction and Prize Awards Day (Stream1).

The event, which saw the induction of 485 people, had members and inductees from viewing centres across the 36 states in attendance.

Mr Opara said in recent years, the financial services industry has faced numerous challenges and controversies, hence the need for a renewed focus on ethics and professionalism.

He said instances of unethical behaviour, regulatory violations, and breaches of trust had tainted the industry’s reputation and weakened public confidence.

Mr Okpara said high-profile cases of misconduct and infractions had resulted in financial losses and injured the reputation of financial institutions and professionals.

“In response to this challenge, the institute has implemented a mandatory annual Ethics Compliance Certification Programme, which is being deployed through the CIBN e-learning platform for bank staff,” said Mr Okpara.

He said the purpose of the certification was to address misconduct and ensure banking practice aligns with global standards.

“The governing council will, in the days ahead, constitute the board of that banking school to supervise the project,” the council chairman said.

Mr Opara said the programme’s theme, “Ethics and Professionalism: A Prerequisite for Building Sustainable Careers and Institutions,” aligned with the institute’s and the banking profession’s core values.

He said ethics and professionalism were important in retaining the trust, credibility, and sustainability of the banking industry in an era of technological advancements, evolving regulatory landscapes, and dynamic market conditions.

The CIBN boss also outlined the benefits of professionalism, adding that it requires continuous learning and self-development for career progression and gaining public trust.

“Today, we shall be inducting a total of 485 graduates, comprising eighteen (18) from the CBMBA route, four (4) from the MSc/ACIB route, 33 from the collaboration with Lagos Business School on Chartered Bankers route, 281 from the regular examination route, and149 candidates as Microfinance Certified Bankers,” he said.

He congratulated inductees, reassured them of CIBN’s commitment and expressed confidence that their knowledge, skills, and ethical values will contribute to the growth, development, and sustainability of financial services in Nigeria and globally.

The Lagos State Commissioner for Finance, Oluyomi Abayomi, commended the CIBN’s capacity-building tenacity, which has had an impact across Africa.

Mr Abayomi thanked the institute for supporting the government’s monetary policy. He urged the inductees to shun any enticement or inducement that could lead them to corruption.

(NAN)