Impact of business ethics on Nigerian financial institutions

M.E. Agwu

International Journal of Business Excellence, 2020, vol. 20, issue 2, 223-241

Abstract: Ethics represent sets of high moral standards and requirements in office holders. This is on the premise that they will be held accountable for any form of misdemeanour. It is also all encompassing and serves as yardsticks for judgment of societal uprightness. The murky waters of business are neck-deep in different types of moral and immoral dealings. Shortcuts and unconventional practices have become prevalent. The codes of ethics which are the sets of moral principles are relegated to the background. The banking industry which plays an intermediation role in every economy has its own fair share of these unethical practices. This paper therefore explores this Trojan and its impacts on the Nigerian financial institutions. Findings reveals plethora of unhealthy practices and discusses their effects on these institutions. Furthermore, the paper recommends the need for a total clean-up and proposes that government must intervene to sanitise these institutions which serve as the heart and soul of the Nigerian economy.

Keywords: ethics; financial institutions; leadership; employees; Nigeria. (search for similar items in EconPapers)
Date: 2020
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