The immediate past President of the Chartered Institute of Bankers of Nigeria, Professor Deji Olanrewaju, has called for a stronger commitment to ethics and professionalism as critical tools for improving Nigeria’s financial system amid prevailing economic challenges.
Speaking during his valedictory lecture titled, “Ethics and Professionalism in the Nigerian Financial System: A Symbiotic Necessity,” held at Ijewere Hall, Bankers House, Victoria Island, Lagos, Prof. Olanrewaju emphasized that integrity and professional discipline remain essential safeguards for stability, credibility, and sustainable growth within the banking sector.
The event attracted key stakeholders in the financial industry, legal practitioners, academics, and senior government officials, including the Governor of Lagos State, Babajide Sanwo-Olu, who was represented by the Commissioner for Finance, Mr. Abayomi Oluyomi.
In his address, Prof. Olanrewaju noted that ethics represents a personal commitment to doing what is right, but warned that ethical principles can easily be weakened by systemic pressures and social influence.
According to him, professionalism provides the institutional framework needed to sustain ethical conduct through shared standards, disciplinary structures, and collective responsibility.
He stressed that financial institutions carry a moral obligation to uphold the ethics of the profession in order to maintain public trust in the nation’s banking system.
Addressing young professionals, the former CIBN President cautioned that they would inevitably face difficult moments where integrity may come at a personal or professional cost.
“You will face moments when doing the right thing has professional cost. It could be a transaction that does not smell right, a figure that does not reflect truth, or a silence serving the wrong interest,” he said.
He, however, encouraged them to remain steadfast, noting that professionals who consistently act with integrity ultimately build lasting reputations and shape the future of the profession.
“Please ensure that your reputation outlasts any single institution,” he advised.
Prof. Olanrewaju further stated that trustworthiness is indispensable for Nigeria’s long-term economic development and urged bankers and financial professionals to recognize their collective responsibility in shaping institutional culture.
“The choices you make, the standards you uphold and the moments you choose integrity over convenience accumulate into culture, and culture over time becomes the system,” he added.
The programme also highlighted Prof. Olanrewaju’s achievements during his tenure as President of the Institute, including improved financial performance, enhanced operational efficiency, increased membership enrollment, and infrastructural development projects aimed at strengthening the institution’s capacity.
Several dignitaries paid glowing tributes to the former CIBN President for his contributions to the banking profession and academia.
Chairman of the occasion, Wole Olanipekun, commended Prof. Olanrewaju’s leadership and dedication to reforms within the financial sector, while the Vice Chancellor of Babcock University, Professor Afolarin Ojewole, described him as a distinguished scholar and mentor whose impact continues to shape future professionals.
The event concluded with the presentation and symbolic pull-out of Prof. Olanrewaju’s latest book, underscoring his continued commitment to promoting ethical standards and professional excellence in Nigeria’s banking industry.
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