THE IMPERATIVES OF BUSINESS ETHICS IN THE NIGERIAN FINANCIAL SYSTEM
Authors:
OLANREWAJU Pius
Publication Type: Journal article
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Abstract
Significant changes are taking place in the world financial system. Financial institutions are in the midst of constant renewal and these changes are bound to have consequences for the management of financial institutions in the millennium. Against the background of anticipated changes in the business environment and their concomitant challenges, the author observes the need to inculcate the tenet of business ethics and integrity among managers. The purpose of this article is to examine the current paradigms of business ethics in the Nigeria financial system and the challenges that confront operators on matters concerning ethic and integrity. While the author recognizes that corporate ethical standard remains devoid of any universal standard, he recognizes the cruciality of ethics and proffers strategies of inculcating the concept of business ethics by managers. The paper concludes that operators within the system need training and exposition in business ethics while financial institutions need to practice corporate social integrity and responsibility.