The Chartered Institute of Bankers of Nigeria (CIBN) has advised the banking industry to leverage on emotional intelligence to build ethical leadership in the Industry.
Emotions in interpersonal relationships, service delivery and intrapersonal relationship influence the major parameters in service-oriented firms like banking profession, which are amplified by the digital landscape in which banks operate as pressure are exerted on these parameters.
Uche Messiah Olowu, immediate past president/chairman of council, CIBN gave the advice while delivering his presidential valedictory address, themed: ‘Ethical Leadership in Banks and Emotional Intelligence’, via Webinar at the weekend.
Olowu listed the four domains of emotional intelligence that predicts success, which includes self-awareness, self-management, social awareness, and relationship management. These domains are strengthened by emotional competencies which comprised individual thoughts, feelings, and behaviours, and it is divided into personal and social competencies.
He maintained that Leadership will succeed if people are emotionally engaged by priming good feelings in those they lead.
Olowu told over one thousand participants who connected to the programme through Zoom and YouTube that ‘Ethical leadership influences people to exhibit right behaviour that could maximize values such as integrity, honesty, consistency and so on, adding that ‘Emotional intelligence aligns with ethics to achieve organizational success.
According to him, emotions in interpersonal relationships, service delivery and intrapersonal relationship influence the major parameters in service-oriented firms like banking profession, which are amplified by the digital landscape in which banks operate as pressure are exerted on these parameters.
He was concerned that little attention has been paid to emotional intelligence in the banking industry as cognitive processes are adopted for performance assessment, recruitments, and selections, and this has encouraged wrong performance, wrong interpretations of human actions and erroneous reflection of organizations’ values in the characteristics of top management as stated in underlying theories of emotional intelligence.
It is generally perceived that numerous scandals in the banking industry creates the impression that corporate culture in banks tolerates unethical behaviour, apart from the fact that banking is a business premised on the capitalist ideal of profit at all cost. This, he said has damaged customers trust.
Speaking as an outgoing president, he recommended that ethical leadership behaviour should be encouraged in banks to facilitate success through leadership commitment to ethical values, prudence, and exercise of fair judgement.
Emotional capabilities should be developed to create an atmosphere of trust, cooperation, and ethical leadership.
The Banking industry should shun pressure of the moment which leads to unethical behaviour.
Training for emotional intelligence across the broad spectrum should be executed to arrest discomfort and provide reassurances in time of turbulence and threatening change.
Olowu highlighted his achievements as the 20th President/Chairman of Council of the Institute which were predicated on these five points agenda of: Rules and Standards, Skills and Competence, Research and Advocacy, Technology and Resources, and Brand and Visibility.
The online valedictory address which was chaired by Mazi Victor Okoronkwo, group managing director of Aiteo Eastern Exploration and Production Company Limited/1st national vice president of the Nigerian Gas Association and Osaretin Demuren, chairman, GTBank Plc and chairman, Bank Directors Association of Nigeria as special guest of honour was also an opportunity to celebrate the leadership of Uche Messiah Olowu for a two-year tenure (2018-2020) as the President of the most and enviable banking institute.
Bayo Olugbemi was sworn in on Saturday as the 21st president/ chairman of council of the CIBN.
Olugbemi took over the CIBN leadership from Uche Olowu his predecessor and has also crafted the strategic focus of his administration in the next two years into the acronym “A-TEAM”.
The new CIBN leader will oversee affairs of the Institute for the next two years. He was sworn in by Honourable Justice Adesuyi Olateru-Olagbegi (Rtd) at the Bankers House, Council Chamber, Victoria Island, Lagos.
Olugbemi is expected to bring his knowledge of over 38 years’ experience as investment banker to bear on the Institute.
Olugbemi, who is also the managing director/CEO, First Registrars and Investor Services Limited had served as the first vice president and chairman, board of fellows and practice licenses at CIBN as well as the president/chairman of council, The Institute of Capital Market Registrars and Treasurer, Lagos Chamber of Commerce and Industry (LCCI).
