ICPC, CIBN Set to Fight Corruption in the Banking Sector

In its determination to tackle frontally the problem of financial fraud in the country, the Chartered Institute of Bankers of Nigeria (CIBN) has signed an agreement with the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to ensure a corruption-free and completely transformed banking sector in Nigeria.

The collaboration agreement between the CIBN and the Commission was signed through the Anti-Corruption Academy of Nigeria (ACAN) – the training arm of ICPC at the Commission’s headquarters in Abuja recently.

The Vice President of CIBN, Dr. Segun Ajibola who represented the President of the Council, Mrs. Debola Osibogun, led a team of the Board of the Institute on the visit.

Dr. Ajibola described  ICPC as an institution committed to purging Nigeria of corruption through lawful enforcement and preventive measures.

In his words, ‘’ It is this credibility that has encouraged the CIBN, an institution committed to maintenance and observance of ethics and professionalism in the banking and finance industry to collaborate with the Anti- Corruption Academy of Nigeria in order to run training programmes that will help educate and enlighten the public on matters of Corruption’’.

In his remarks, the ACAN Provost, Professor Sola Akinrinade, stated that the agreement would guide and ensure the commitment of the Institute and the Academy in preventing fraud or corruption in financial institutions.

He described the Academy as a training institute designed to provide training for public officers and the general public on good governance, accountability, transparency, integrity, ethics and all issues relating to corruption and corrupt practices, and to build up a body of knowledge that will facilitate the development of knowledge – based anti- corruption policies in Nigeria.

The Secretary to the Commission, Mr Elvis Oglafa who represented the ICPC Chairman, laid emphasis on the objectives for establishing the ICPC training academy, saying it was to focus on the preventive mandate of the Commission and not waiting for infractions to occur before it began to run after people, thereby wasting productive time.

According to him, ‘’without a fraud – free banking and financial sector, our economy will not grow; ICPC will ensure that this collaboration becomes fruitful so we can talk about gains in the agriculture, power and manufacturing sectors’’.

He commended the CIBN for its initiative and the bold step taken for the collaboration.

The highpoint of the visit was the signing of the Memorandum of Understanding (MoU) by the two organisations which was witnessed by the  Secretary to the Commission, Provost of ACAN, and the  Vice President of CIBN.