Trust, integrity key to Nigeria’s financial growth – Olanrewaju

The immediate past President of the Chartered Institute of Bankers of Nigeria (CIBN), Chartered Institute of Bankers of Nigeria, Professor Deji Olanrewaju, has called for stronger ethical standards and deeper professionalism in Nigeria’s financial sector, warning that integrity remains critical to sustaining trust and stability in the banking system.

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, Olanrewaju said ethical conduct must be seen as a non-negotiable foundation for growth in the country’s financial industry.

He stressed that Nigeria’s economic challenges make it even more important for financial professionals to adhere strictly to moral and professional standards, noting that both concepts must work together to strengthen institutional credibility.

According to him, while ethics is rooted in personal conviction, it is often vulnerable to pressure and compromise, making structured professionalism necessary to reinforce accountability within the system.

“Ethics is a personal commitment to doing what is right, but it is fragile and can be influenced by social and institutional pressures,” he said. “Professionalism provides the structure, standards and discipline that make ethical behaviour consistent.”

The lecture attracted senior figures from the banking sector, government and academia, including the Governor of Lagos State, Babajide Sanwo-Olu, who was represented by the Commissioner for Finance, Abayomi Oluyomi.

Olanrewaju cautioned young professionals against compromising ethical standards for short-term gains, warning that such decisions often carry long-term professional consequences.

“You will face moments when doing the right thing has a professional cost,” he said. “It could be a questionable transaction or pressure to misrepresent figures. But those who choose integrity ultimately build lasting reputations.”

He further emphasized that trust remains the foundation of any successful financial system, adding that it is not exclusive to advanced economies but essential for Nigeria’s development.

“Trustworthiness is not the privilege of developed economies alone. It is a necessity for sustainable development,” he noted.
Addressing senior professionals in attendance, he said their daily decisions collectively shape the culture of the industry.

“You are not bystanders in this process; you are its architects,” he said. “The choices you make accumulate into culture, and culture becomes the system over time.”

The event also highlighted his achievements during his tenure, including improved financial performance, increased membership enrollment, and infrastructural development within the institute.

Tributes were paid to Olanrewaju by industry and academic leaders, including Chief Wole Olanipekun (SAN), who praised his leadership and contribution to the banking profession, and the Vice-Chancellor of Babcock University, Professor Afolarin Ojewole, who described him as a mentor whose influence extends beyond the classroom.

The programme concluded with the presentation of Olanrewaju’s latest book, marking the end of his tenure while underscoring his continued advocacy for ethical standards in Nigeria’s financial system.