Accra: Academic City University College has emerged victorious in the Maiden edition of the National Banking and Ethics Challenge (NBEC) by the Chartered Institute of Bankers (CIB) Ghana. The competition aimed at promoting ethical banking practices among tertiary students.
According to Ghana News Agency, Academic City University was awarded a full scholarship to study a professional course at the Institute, along with a plaque and other incentives. Other winners and participants also received plaques and cash prizes. The event featured five universities competing in a quiz-style contest centered on ethics, financial literacy, and professional conduct. The participating schools included Academic City University College, University of Ghana, Pentecost University College, University of Professional Studies, Accra (UPSA), and Wisconsin International University College.
The competition unfolded in three progressive stages: the preliminaries, semifinals, and finals. At the end of the preliminary round, UPSA and Pentecost University College were eliminated, while Wisconsin exited at the semifinal stage. The final round saw a fierce contest between Academic City University College and the University of Ghana, with Academic City emerging victorious.
Dr. Kwasi Osei Yeboah, Head of the Financial Stability Department at the Bank of Ghana, commended CIB Ghana for its leadership in advancing ethics in banking. He expressed concern over the rising trend of bank staff involvement in fraud, which increased from 274 in 2023 to 365 in 2024, representing a 33 per cent rise. ‘This disturbing trend contrasts sharply with the values expected of banking professionals,’ he said, calling for urgent stakeholder collaboration to restore public trust. He stressed that ethics must be embedded at every level of banking operations, adding that events like these were critical in nurturing a new generation of ethically minded bankers who uphold integrity and professionalism.
Mr. Robert Dzato, CEO of CIB Ghana, underscored the importance of banking education and financial literacy in schools, workplaces, and religious institutions. ‘We all interact with money, so understanding how to manage it wisely, especially in an inflationary and dynamic economy, is essential for personal and national growth,’ he added. He said the challenge was not just a competition; it was a platform for future banking professionals to engage with ethical standards crucial for the integrity of their financial system. ‘We are proud to have initiated this event and look forward to making it an annual affair,’ he said.
Madam Doris Ahiati, the Quiz Mistress and a Fellow of the Institute, said the NBEC serves three core audiences: the bank customer, the banking professional, and financial institutions. ‘This challenge is our way of saying to the customer: we hear you. We are raising the bar in ethics and professionalism to rebuild your trust,’ she said. She praised the participants for their enthusiasm and knowledge, stating that the level of engagement and the quality of answers demonstrated by the contestants were remarkable. ‘It is encouraging to see young minds so dedicated to understanding the ethics of banking,’ she said.
Togbe Asiama Krakani V, Vice-President of CIB Ghana, described the challenge as a transformative initiative aligned with the Institute’s mandate to regulate banking practice 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 said.
The maiden NBEC, held in partnership with JoyBusiness as the media partner, marks a significant step by CIB Ghana to entrench ethical values in banking from the classroom to the boardroom. It also showcased the Institute’s commitment to building a sustainable, trustworthy, and resilient financial system in Ghana.