Insider Dealings and The Problems of Business Ethics in the Banking Industry in Nigeria
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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.
Keywords
HF Commerce, HJ Public Finance