Lagos (Nigeria), 15 November 2019 – In the furtherance of the Bank’s commitment to promote business ethics, professional excellence and education, reflected in the Bank’s Endowment programme – the Samuel Asabia Chair for Business Ethics at the University of Lagos – First Bank of Nigeria Limited for three consecutive years is partnering with CFA Society Nigeria to host its annual flagship event, the Ethics Challenge, scheduled for Friday & Saturday, 15 -16 November 2019 in Abuja and Lagos for the regional and national levels respectively.
The Ethics Challenge is designed to increase students’ awareness of the ethical dilemmas and issues they may face when they enter the investment management industry. At the Ethics Challenge, students are given an ethics case study to analyze, evaluate, recommend and present to a panel of judges. To determine the winning team, the judges provide feedback based on the identification and understanding of the ethical issues in the case, the recommendations provided with the depth of the analysis, quality of the presentation, and responses to the judges’ questions.
The 2018 winner, Obafemi Awolowo University, would compete with 15 other higher institutions in the country to defend its trophy. Babcock University, Bowen University, Covenant University, Federal University of Technology Akure, Mountain Top University, University of Calabar, University of Ibadan and University of Lagos are the schools competing in the Lagos preliminary round.
Other schools are University of Abuja, University of Maiduguri, Bayero University, University of Ilorin, University of Nigeria and Madonna University in the Abuja based preliminary round.
The competition will be judged by Mrs. Adeola Asabia, Member, Board of Trustees, Business Ethics Chair, University of Lagos; Musa Bagudu, CFA, Head, External Funds Management Office, Central Bank of Nigeria; Kunle Anida, CFA, Director, Deals Advisory, PWC Nigeria amongst others.
According to CFA Society Nigeria President, Mr. Banji Fehintola, “The annual Ethics Challenge embodies CFA Society Nigeria’s mission to promote the highest standards of ethics in our investment and financial services industry. It touches on many of CFA Institute’s Future of Finance six areas of focus which include: Transparency and Fairness, Regulation and Enforcement, and Safeguarding the System. It also promotes ethical awareness and fosters a healthy investment industry that works for the ultimate benefit of society. Through our collaboration with First Bank of Nigeria Limited to run this competition annually, we will continue to invest in our university students and we hope to build the commitment of our future professionals to operate according to sound ethical principles”.
Expressing her delight on FirstBank’s support and participation in the CFA Ethics Challenge, the Group Head, Marketing & Corporate Communications, First Bank of Nigeria Limited, Folake Ani- Mumuney said “through our 125 years of existence, we at FirstBank pride ourselves in being exemplary in ensuring that global best practices are upheld in adherence to ethical standards across our organizational practices and activities.
“We recognize the impact of the CFA Society Nigeria through its giant strides in fostering Code of Ethics and Standards of Professional Conduct amongst university students and other touch points in the society in preparing them to overcome ethical challenges that they may face in the workplace environment “.
First Bank of Nigeria Limited (FirstBank) is the premier Bank in West Africa and the leading banking services solutions provider in Nigeria for 125 years. With some 15 million customer accounts, FirstBank provides a comprehensive range of retail and corporate financial services with over 750 business locations. The Bank has international presence through its subsidiaries, FBN Bank (UK) Limited in London and Paris, FBNBank in the Republic of Congo, Ghana, The Gambia, Guinea, Sierra-Leone and Senegal, as well as a Representative Office in Beijing.
Since its establishment in 1894, FirstBank has consistently built relationships with customers focusing on the fundamentals of good corporate governance, strong liquidity, optimised risk management and leadership. Over the years, the Bank has led the financing of private investment in infrastructure development in the Nigerian economy by playing key roles in the Federal Government’s privatisation and commercialisation schemes. With its global reach, FirstBank provides prospective investors wishing to explore the vast business opportunities that are available in Nigeria, an internationally competitive world-class brand and a credible financial partner.
FirstBank has been named “Most Valuable Bank Brand in Nigeria” six times in a row (2011 – 2016) by the globally renowned “The Banker Magazine” of the Financial Times Group; “Best Retail Bank in Nigeria” for seven consecutive years (2011 – 2017) by the Asian Banker International Excellence in Retail Financial Services Awards and “Best Bank in Nigeria” by Global Finance for 15 years. Our brand purpose is to always put customers, partners and stakeholders at the heart of our business, even as we standardise customer experience and excellence in financial solutions across sub-Saharan Africa, in consonance with our brand vision “To be the partner of first choice in building your future”. Our brand promise is to always deliver the ultimate “gold standard” of value and excellence. This commitment is anchored on our inherent values of passion, partnership and people, to position You First in every respect.
Group Head, Marketing & Corporate Communications