The Group Managing Director/Chief Executive of UBA Plc, Mr. Phillips Oduoza, has charged banks on high ethical standards supported with robust corporate governance as an imperative to sustain recent positive developments in the Nigerian banking industry.
Speaking during a courtesy call to the bank by the new President and Chairman of Council, Mr. Segun Aina, and other executive members of the Chartered Institute of Bankers of Nigeria (CIBN), Odozua said recent reforms in the sector have changed banking patterns in the country.
Noting that the banking industry has been refocused on real sector growth and development owing to the recent regulatory reforms, he opined that strict adherence to code of ethic would help sustain the recent gains.
Consequently, he charged the CIBN to continuously drive the adherence to banking ethics, corporate governance and professionalism in the banking industry.
Odozua who congratulated the new CIBN President on his recent appointment, assured that the bank was very eager and willing to partner with 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 has taken key steps to ensure adherence to banking ethics with a view to strengthen Nigeria’s banking industry. “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.