Monday, June 25, 2018 4.00PM / Proshare WebTV
The Chartered Financial Analysts Society in partnership with the Institute of Directors today launched the Business Network on Ethics & Integrity in Nigeria.
It was an opportunity to strengthen corporate governance and promote a viable financial services industry in Nigeria.
The Keynote speaker and President of the CFA Global Institute Mr Paul Smith giving his perspective on “Why Trust Matters”, harped on the need for “Ethically trained financial industry professionals, that will build a credible Nigerian financial market and business environment”.
Mr Smith asserted that the foundation of the financial services industry is based on trust, which informs why the CFA Institute allocates 10% to ethics in its exams.
According to Smith, the CFA Institute is focused on Delivering future professionals, Delivering Market value and Building Market Integrity.
Giving an update from a recent global survey, Smith said the recent rating of the Financial Services Industry at 44%, showed the need to build trust and credibility. He also noted that trust had become an important factor in the hiring process of an investment firm.
To build trust in the financial services, he opined that credibility and professionalism remained critical components in the process.
He also advised the Industry to take note of the millennials, who from the 2018 CFA Global Survey on Investment Trust, lean more to technology. Smith called for the adoption of technology in the financial services that can achieve transparency, scale business operations, drive consistency and provide quality services.
The event featured three panel sessions on “Why Trust Matters” in the financial services industry, “Corporate Governance and Financial Reporting Quality: The Meeting Point” and “Corporate Governance from Investors Perspective”.
Highlights of the event was the official launch of the Business Network for Ethics and Integrity in Nigeria (BNEI), by the Presidents of IOD Nigeria and CFA Society Global.
Speaking on the launch the President of Institute of Directors, Nigeria Mr Mohammed Rufai Ahmed, F.IoD lauded the initiative describing it as a platform that will promote ethics and governance in Nigerian businesses both large and small.
On his part the President of the CFA Society Nigeria Mr Banji Fehintola, CFA described the collaboration with the IOD Centre for Corporate Governance as strategic and geared towards enhancing a credible business environment in Nigeria, through the value for ethics.
In February, 2018 the IOD Nigeria Centre for Corporate Governance signed a partnership with the CFA Society Nigeria to promote governance and ethics in the financial services sector and business environment.