First Bank of Nigeria Limited is partnering with CFA Society Nigeria for this year’s edition of its Ethics Challenge.

The Ethics Challenge is a university outreach programme organized by CFA Society Nigeria for university students.

It aims to promote the highest standards of ethics, education, and professional excellence in the investment industry.

First Bank said in Lagos on Tuesday that the partnership aligned with the Corporate Responsibility and Sustainability strategic approach and the objective of the bank’s endowment programme – the Samuel Asabia Chair for Business Ethics at the University of Lagos.


Mrs. Folake Ani-Mumuney, its Group Head, Marketing and Corporate Communications, said the partnership would also showcase the bank’s support for education amongst youths and the drive for nation-building.

Speaking on the event which would hold between Nov. 2 (Lagos and Abuja) and Nov. 3 (Lagos only), Ani-Mumuney said: “It is part of the bank’s ambition to raise the next generation of financial analysts who will operate under the appropriate guiding principles.

“This partnership is an improvement of last year’s edition of the programme. We realize the need to carry out adequate engagement with students as regards business ethics.
“That way, we will be shaping the future of the investment industry in Nigeria.

“With seven universities competing in the 2017 ethics challenge, CFA Society has set out to increase the impact of the 2018 version by expanding the number of participating universities from seven to twelve, including at least one West African university.’’

According to her, this year, the programme will run regional competitions in Abuja and Lagos before running a National Final in Lagos.

“Also, in line with its ‘Women in Investment Management Initiative’ and to encourage women inclusion, the CFA society has added a requirement that each team must be represented by an equal number of female and male students,’’ she said.

Ani-Mumuney said that she was optimistic that these two strategic improvements would position the competition to enable the bank make bigger impacts through the Ethics Challenge.

“Participating universities for the programme are Babcock University, Bowen University, Covenant University, Ekiti State University, Mountain Top University, Obafemi Awolowo University Ile-Ife, University of Benin and University of Calabar.

“Others are the University of Ibadan as well as the University of Lagos for the Lagos preliminary round, while the Abuja Based preliminary round will have University of Abuja, University of Maiduguri, University of Ilorin, University of Nigeria and Madonna University participating.

“The competition will take place in two rounds with the preliminary rounds taking place in Lagos and Abuja.

“Thereafter, two qualifiers from the Abuja region and four qualifiers from Lagos region will converge in Lagos for the grand finale,’’ she said.