CIBN Moves to Stop Unethical Practices in Banks

Following cases of unprofessional practices by some Nigerian bankers,the Chattered Institute of Bankers of Nigeria (CIBN),has started compiling list of all bankers in Nigeria to punish erring ones.

The President of the Institute Dr. Erastus Akingbola, said this in Lagos, during a cocktail party organized for media executives.“We want to self regulate and discipline ourselves.We are compiling the names of all bankers in Nigeria so that we can discipline erring bankers.During my tenure,we will continue with the reforms and my ambition is to return the banking profession to the pride of place because we will be strict on integrity”,he said

He said where a bank errs,such a bank should write an apology to the customer and where money is involved a refund should be made with interest.He also revealed that CIBN intend to start a live TV programme tagged ‘the banker and you’ so that Nigerians would have opportunity of voicing their views on their banking experiences.He said it will also be a platform where the CEOs will also react to queries directly from the banking public.

On arbitrary charges by some banks he said,while the CIBN cannot dictate to each bank how it should operate,it is a competitive market place so the customers have a choice of changing banks if they feel their banks is unfair to them.

On the capital market,he reiterated that the market is at its ebb and would be rising anytime soon.He also assured that, Nigerian banks are healthy enough because banks’ investment in the capital market is not more than 10 percent of their total investible funds, about N60 billion of all the banks’ capitalization.

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