First Bank Organises Ethics Challenge Competition for Universities

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.”

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