The Group Managing Director/Chief Executive Officer, United Bank for Africa Plc (UBA), Mr. Phillips Oduoza, has said that high ethical standard as well as robust corporate governance are essential to sustain the positive developments in the Nigerian banking industry.
A statement from the bank said the UBA boss made the call when the new President/Chairman of Council, Chartered Institute of Bankers (CIBN), Mr. Segun Aina, and other executive members of the institute paid a visit to the bank’s head office in Lagos.
Oduoza, who noted that the industry is now focused on real sector growth owing to recent regulatory reforms, maintained that strict adherence to code of ethic will help sustain the recent gains.
He also advised the CIBN to continuously drive the adherence to banking ethics, corporate governance and professionalism in the banking industry.
Whilst congratulating the new CIBN President on his recent appointment, Oduoza assured that the bank would continue to collaborate with the CIBN. “UBA has presence in 19 African countries and operates in key financial sectors of the world.
Having a very professional and ethical workforce is vital to our operations. Our bank has zero tolerance for unethical behaviour because we believe that capacity building is important for the growth of the industry,” he added.
In his remarks, the CIBN President said the institute had taken key steps to ensure adherence to banking ethics with a view to strengthen Nigeria’s banking industry.
He explained: “At CIBN, we believe in consistent development and adherence to ethics. We started a transformation process about a year ago and have developed a new structure to address the needs of the industry.
“We are glad to partner with the bank in our transformation programme because we are collaborating with institutions to develop the industry.”