CIB Ghana champions ethical banking with inaugural national challenge

Academic City Wins National Banking and Ethics Challenge

The Chartered Institute of Bankers (CIB) Ghana hosted the first National Banking and Ethics Challenge (NBEC). This event took place on Thursday, May 29, 2025, in Accra. It aimed to promote ethical banking practices among tertiary students. Five universities participated in a quiz-style contest focused on ethics and financial literacy.

The competing schools were Academic City University College, University of Ghana, Pentecost University College, University of Professional Studies (UPSA), and Wisconsin International University College.

The competition had three stages: preliminaries, semifinals, and finals. UPSA and Pentecost University were eliminated after the preliminary round. Wisconsin exited during the semifinals. The final featured a close contest between Academic City and the University of Ghana. Academic City emerged as the winner.

Winners received plaques and cash prizes. Academic City also earned a full scholarship for a professional course at CIB Ghana.

Dr. Kwasi Osei Yeboah delivered the keynote address. He is the Head of the Financial Stability Department at the Bank of Ghana (BoG). He praised CIB Ghana for promoting ethics in banking. However, he expressed concern about rising fraud among bank staff.

Fraud cases increased from 274 in 2023 to 365 in 2024—a rise of 33 percent. Dr. Yeboah called for collaboration to restore public trust in banking. He emphasized that ethics should be integral to all banking operations.

Mr. Robert Dzato, CEO of CIB Ghana, highlighted the need for banking education and financial literacy. He stated that understanding money management is crucial for personal growth and national development. The challenge serves as a platform for future bankers to engage with ethical standards essential for financial integrity.

Quiz Mistress Doris Ahiati noted that NBEC targets bank customers, professionals, and institutions alike. She said it aims to rebuild customer trust by raising ethical standards in banking.

She commended participants for their enthusiasm and knowledge during the competition. Ahiati found it encouraging to see young people dedicated to understanding banking ethics.

Togbe Asiama Krakani V, Vice President of CIB Ghana, described NBEC as transformative. He said it aligns with CIB's mission to regulate banking practices while promoting professional development.

This inaugural NBEC was held in partnership with JoyBusiness as its media partner. It marks a significant step toward embedding ethical values in banking from classrooms to boardrooms in Ghana.