The Chartered Institute of Bankers (CIB) Ghana has launched a pioneering initiative to deepen ethical banking practices and financial literacy among future professionals through its inaugural National Banking and Ethics Challenge (NBEC).
The contest, which brought together five tertiary institutions, marks a bold step toward embedding integrity into Ghana’s financial sector from the classroom up.
Held at the Institute’s auditorium in Accra, the event featured teams from Academic City University College, University of Ghana, Pentecost University College, Wisconsin International University College, and the University of Professional Studies, Accra (UPSA). After a fiercely contested final round, Academic City emerged victorious, defeating the University of Ghana to claim the top spot.
The NBEC, structured in three phases, that’s preliminaries, semifinals, and finals, tested participants on ethical conduct, financial literacy, and professional banking standards. Winners received plaques, cash prizes, and in the case of Academic City, a full scholarship to pursue a professional certification course with the Institute.
Addressing participants, Dr. Kwasi Osei Yeboah, Head of the Financial Stability Department at the Bank of Ghana, warned of a disturbing 33% year-on-year increase in fraud cases involving banking staff, from 274 in 2023 to 365 in 2024. He called for urgent stakeholder collaboration to restore trust in the banking sector. “This disturbing trend contrasts sharply with the values expected of banking professionals,” Dr. Yeboah noted. “Events like the NBEC are critical in nurturing a new generation of ethically minded bankers who uphold integrity and professionalism.”
CIB Ghana’s CEO, Mr. Robert Dzato, spoke about the broader mission of the competition, stressing the need to integrate banking education and financial ethics into schools, workplaces, and even religious institutions. “This challenge is not just a competition; it is a platform for future banking professionals to engage with ethical standards that are crucial for the integrity of our financial system,” he said.
The Institute’s Vice President, Togbe Asiama Krakani V, positioned the NBEC as a strategic initiative aligned with CIB Ghana’s mandate to regulate the practice of banking and promote professional development. “This is not just a contest, it is a call to action to embed ethics into the DNA of our future professionals and institutions,” he stated.
Quiz Mistress Doris Ahiati, a Fellow of the Institute, added that the NBEC is designed to impact three core stakeholders in the financial ecosystem: customers, banking professionals, and institutions. “We are raising the bar in ethics and professionalism to rebuild public trust,” she said.
