Assessing CIBN’s success record in code of ethics implementation

The success recorded by Chartered Institute of Bankers of Nigeria (CIBN) in the implementation of code of ethics in the banking industry has come to the frontline.

The committee on Ethics and Professionalism instituted by the CIBN in 2014 was able to handle some cases between banks and their customers on one hand, and between banks as part of the Institute’s sacrifices for the banking industry and the economy.

Through the Institute’s promotion of ethics, all bank employees have attested to the Code of Conduct in the banking industry, Debola Osibogun, president, CIBN, said at the 2014 annual general meeting (AGM) of the Institute in Lagos, last weekend.

The completed attested forms are currently being processed into the Institute’s database to form the basis of the data that would assist in tracking of reported unethical behaviours, she said.

“Banks have increased their reportage of employees who violate the code for investigation and discipline, while training intervention were organised on code and relevant learning points from resolved cases were disseminated to banks by sub-committee through its report to the Bankers Committee,” she said.

The president reiterated the Institute’s effort to ensuring that workers in the banking industry, in the country, adhere to the ethics of the profession.

However, the Institute generated a total revenue of N645 million in its 2014 annual account compared with N619 million posted in 2013, representing an increase of 4.11 percent, resulting in a growth of 2.48 percent from a net worth of N1.209 billion in 2013 to N1.239 billion in 2014.

She said the Institute recorded a modest net operating surplus of 5.7 million, saying that the projected budget surplus of N126 million could not be realised following a number of factors, which included a shortfall in sponsorship revenues, payment of severance package of disengaged staff and the huge cost of maintenance of Bankers House.

“There is a slight improvement in the ratio of internally generated revenue to corporate members’ subscriptions to 80 percent: 20 percent in the year under review, from 78 percent: 22 percent recorded in 2013. Our desire to reduce dependence on corporate members subscriptions in the medium- and long-term fund activities will continue to be pursued until it is achieved,” she said.

CIBN recently won the right to host the 22^nd World Conference of Banking Institutes (WCBI), which will take place in 2017.

The WCBI, which is a biennial conference for all the banking institutes across the globe, started in Edinburgh Scotland, in 1975, as part of activities to commemorate the Centenary celebrations of the Institute of Bankers in Scotland. Since then, over 21 countries including USA, Canada, United Kingdom, Italy, South Africa, Sweden, Australia, France, India, Ireland, Bahamas, UAE, Kenya, among others, have hosted the event.

Osibogun noted that this hosting right underscored the confidence of the banking institutes all over the world, in the role and contribution of the Institute, in ensuring high quality education and learning services for a safe and sound financial system in Nigeria and its leadership role among the banking institutes in Africa.

Earlier, the Institute had secured the support of the regional groups such as the European Banking and Financial Services Training Association (EBTN); Asian-Pacific Association of Banking Institutes International Conference (APABI) and Alliance of African Institutes of Bankers (AAIOB); as well as the Central Bank of Nigeria; Nigerian Deposit Insurance Corporation; the Bankers’ Committee; the Nigerian Embassy in the Republic of South Korea, and indeed, the Federal Government Nigeria.

 

HOPE MOSES-ASHIKE