Authors: M.E. Agwu
Addresses: Faculty of Strategy and Entrepreneurship, Lagos Business School, Pan-Atlantic University, Km 22, Lekki-Epe Expressway, Ajah, Lagos State, Nigeria
Abstract: Ethics represent sets of high moral standards and requirements in office holders. This is on the premise that they will be held accountable for any form of misdemeanour. It is also all encompassing and serves as yardsticks for judgment of societal uprightness. The murky waters of business are neck-deep in different types of moral and immoral dealings. Shortcuts and unconventional practices have become prevalent. The codes of ethics which are the sets of moral principles are relegated to the background. The banking industry which plays an intermediation role in every economy has its own fair share of these unethical practices. This paper therefore explores this Trojan and its impacts on the Nigerian financial institutions. Findings reveals plethora of unhealthy practices and discusses their effects on these institutions. Furthermore, the paper recommends the need for a total clean-up and proposes that government must intervene to sanitise these institutions which serve as the heart and soul of the Nigerian economy.
Keywords: ethics; financial institutions; leadership; employees; Nigeria.
International Journal of Business Excellence, 2020 Vol.20 No.2, pp.223 - 241
Received: 10 Jun 2018
Accepted: 14 Oct 2018
Published online: 18 Feb 2020 *