Unethical Behaviour
INSIDER DEALINGS AND THE PROBLEMS OF BUSINESS ETHICS IN THE
BANKING INDUSTRY IN NIGERIA.
BY
Adegboye Folasade Bosede
Department of Banking & Finance
Covenant University
Ota, Ogun state.
Tel: 07032678252 e-mail:sadeadegboye@yahoo.com
THIS PAPER IS TO BE PRESENTED AT: THE 8TH ANNUAL CONFERENCE
OF THE NIGERIAN SOCIOLOGICAL SOCIETY
AT TEMPRANCE HOTEL
OFF THE BELLS UNIVERSITY ROAD
OTA, OGUN STATE.
DATE: TUESDAY NOVEMBER 25- THURSDAY NOVEMBER 27, 2008
ABSTRACT
Professionalism in banking is violated when ethical or legal fundamentals are breached or blatantly disregarded. Ethics is a strong code of morality, which for an occupation such as banking, plays an important role in the well being of individuals, businesses, national and international economies. Unethical conduct manifests itself in various ways, including insider abuse, fraudulent dealings; irregularity/inaccuracy in rendition of reports, these are problems bordering on business ethics as evident in the Nigerian banking crisis. A multiple regression analysis was used and from the summary of the finding, we can infer that the consequences of insider dealing and problem of business ethics can be disastrous and could result in loss of confidence and trust in the industry, loss of business for the institutions, shareholders, board/management disputes, operational losses, distress of the sector, and liquidation of institutions, capital flight, and stagnation of the economy.
INTRODUCTION
Traditionally, the role of banks whether in a developed or developing economy, consists of financial intermediation, provision of an efficient payments system and serving as conduit for the implementation of monetary policies.
In view of the importance of the banking sector in economic development and the imperfections of the market mechanism to mobilize and allocate financial resources to socially desirable economic activities of our nations, challenges confronting the industry
BANKING INDUSTRY IN NIGERIA.
BY
Adegboye Folasade Bosede
Department of Banking & Finance
Covenant University
Ota, Ogun state.
Tel: 07032678252 e-mail:sadeadegboye@yahoo.com
THIS PAPER IS TO BE PRESENTED AT: THE 8TH ANNUAL CONFERENCE
OF THE NIGERIAN SOCIOLOGICAL SOCIETY
AT TEMPRANCE HOTEL
OFF THE BELLS UNIVERSITY ROAD
OTA, OGUN STATE.
DATE: TUESDAY NOVEMBER 25- THURSDAY NOVEMBER 27, 2008
ABSTRACT
Professionalism in banking is violated when ethical or legal fundamentals are breached or blatantly disregarded. Ethics is a strong code of morality, which for an occupation such as banking, plays an important role in the well being of individuals, businesses, national and international economies. Unethical conduct manifests itself in various ways, including insider abuse, fraudulent dealings; irregularity/inaccuracy in rendition of reports, these are problems bordering on business ethics as evident in the Nigerian banking crisis. A multiple regression analysis was used and from the summary of the finding, we can infer that the consequences of insider dealing and problem of business ethics can be disastrous and could result in loss of confidence and trust in the industry, loss of business for the institutions, shareholders, board/management disputes, operational losses, distress of the sector, and liquidation of institutions, capital flight, and stagnation of the economy.
INTRODUCTION
Traditionally, the role of banks whether in a developed or developing economy, consists of financial intermediation, provision of an efficient payments system and serving as conduit for the implementation of monetary policies.
In view of the importance of the banking sector in economic development and the imperfections of the market mechanism to mobilize and allocate financial resources to socially desirable economic activities of our nations, challenges confronting the industry
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