UBA boss advocates strong ethical standard in banking sector

TO ensure consumer confidence in the banking sector, the Group Managing Director and Chief Executive Officer of United Bank for Africa Plc (UBA), Phillips Oduoza, has said there is a need for very high ethical standards supported with robust corporate governance, to sustain recent positive developments in the Nigerian banking industry.The UBA boss said this recently, when the new President and Chairman of Council, Segun Aina and other executive members of the Chartered Institute of Bankers of Nigeria (CIBN), paid a courtesy visit to the Head Office of the bank in Lagos, as part of the institute's stakeholder engagement agenda.Oduoza, who noted that the banking industry has been refocused on real sector growth and development owing the recent regulatory reforms, opined that strict adherence to code of ethic will help sustain the recent gains.Consequently, he charged the CIBN to continuously drive the adherence to banking ethics, corporate governance and professionalism in the banking industry.Congragulating the new CIBN President on his recent appointment, Oduoza said UBA is very eager and willing to partner with CIBN.'UBA has presence in 19 African countries and operates in key financial sectors of the world. Having a very professional and ethical workforce is vital to our operations. Our bank has zero tolerance for unethical behaviour because we believe that capacity building is important for the growth of the industry,' he added.In his remarks, the CIBN President, who coincidentally started his banking career in UBA in 1974, said the institute has taken key steps to ensure adherence to banking ethics with a view to strengthen Nigeria's banking industry.'At CIBN, we believe in consistent development and adherence to ethics. We started a transformation process about a year ago and have developed a new structure to address the needs of the industry.'UBA is the first bank we are visiting as part of our dialogue with stakeholders, we are glad to partner with the bank in our transformation programme because we are collaborating with institutions to develop the industry, ' he stated.
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