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Declining Societal Values Affecting Banking Industry – CIBN President

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President, Chartered Institute of bankers of Nigeria (CIBN), Dr. Uche Olowu has said that the declining values in the Nigerian banking industry is a reflection of a deterioration of morals in society. Comparing how the Nigerian banking industry was in years past and now, Olowu said technology has brought a lot of advancement but values and ethics are lacking. “Back then, banking was manually driven and the system was not high tech but they had people with integrity whose words were their bonds and were so patriotic.

“Even though banking was not progressive, it had people who had some kind of focus and integrity. Then, from the value orientation of the society you could still vouch for people but as the values began to deteriorate as a result of instant gratification it as also affected every strata of the society so banking was not an exception.” He however, noted that there is no basis for comparison as banking has been evolving, saying in times past, “it was arm chair banking and there wasn’t real value given to customers but as competition, disruption continued to happen, you find out that banking like every other segment of the society has been impacted with development that is happening in technology society.


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