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13th July 2020
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OAU, UNILAG, Covenant University win CFA Ethics Challenge

OAU, UNILAG, Covenant University win CFA Ethics Challenge
OAU, UNILAG, Covenant University win CFA Ethics Challenge

Covenant University, University of Lagos (UNILAG) and Obafemi Awolowo University, have emerged top three winners in the CFA Society Nigeria Ethics Challenge.

Mr Banji Fehintola, president, CFA Society Nigeria, announced the winners after the finale of the national competition of the 2019 CFA Ethics Challenge in Lagos.

The News Agency of Nigeria (NAN) reports that the three schools emerged winners in a national competition contested by seven universities that qualified from the regional competition.

The Universities are the University of Ilorin, University of Nigeria Nsukka, University of Abuja and University of Ibadan. Others are Obafemi Awolowo University, Covenant University and the University of Lagos.

Fehintola said the challenge was designed to increase students’ awareness of the ethical dilemmas and issues they might face when they entered the investment management industry.

According to him, the challenge embodies the mission of CFA Society to promote a high level of professionalism and ethical practice in the financial industry.

He said the students were given an ethics case study to analyse, evaluate, recommend and present solutions to a panel of judges.

According to him, the judges choose the top three winners based on identification and understanding of the ethical violations in the case, recommendations and presentations by the students.

Fehintola praised the students for their intelligence, perseverance and team spirit, saying all of them were winners.

He commended FirstBank for sponsoring the event as part of its drive to entrench integrity, transparency, ethical practice among the future finance professionals and the society.

Also, Mr Olaniyi Ogunbajo, Managing Director, Affiniti Capital Management, commended the students for identifying some underlying violations in the case study which included; loyalty to employers, conflict of interest and independence and objectivity.

He expressed optimism that the exposure would promote ethical investment behaviours among youths who were the leaders of tomorrow, thus reshape the nation’s financial landscape.

Mr Ismail Omamegbe, Head, Corporate Responsibility and Sustainability, First Bank of Nigeria, said the Ethics Challenge aligned with the bank’s CRS strategic approach and the objective of its Endowment programme-the Samuel Asabia Chair for Business Ethics at the University of Lagos.

Omamegbe noted that the challenge was a proof of its commitment to ethics, professional excellence, capacity building and inclusive growth of Nigerians and that it underscored the bank’s core values of entrepreneurship, professionalism, integrity and customer service.

“We believe that promoting ethics in business is not only important for the reputation of our brand, but also one of the solid pillars that effectively support sustainable financial institutions,” he said.

Mosunmola Adefarati, a team member of the Obafemi Awolowo University, said the challenge had shaped the team’s knowledge and understanding of ethics.

She said the case study was challenging and required an eye for details to look beyond the surface, which she said was essential to thrive in the corporate world.

NAN reports that members of the team from the winning universities would get scholarships for the CFA examination, while the overall winning team would be unveiled on Nov. 30 at the CFA Gala Night. 


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