During the induction ceremony for 485 newly initiated members of the Chartered Institute of Bankers of Nigeria (CIBN), Abubakar Suleiman, CEO of Sterling Bank, made provocative comments suggesting that professional bankers who amass wealth may be engaging in unethical activities.
Addressing a distinguished audience that included former presidents of the institution and the Lagos Commissioner of Finance, Abayomi Oluyomi, Suleiman highlighted the service-oriented nature of the banking industry. He posited that the path of professional banking is not meant to lead to personal wealth, except through illegitimate means.
“If your purpose is wealth… if you find a banker, a professional banker… and he says he’s wealthy, look at the person and ask how?” Suleiman stated, emphasizing the incongruity between professional banking and significant personal wealth without entrepreneurial or ownership stakes in the banking sector.
Suleiman’s comments come at a time when the integrity and ethical practices within the banking sector are under increasing scrutiny. By drawing a clear distinction between professional bankers and those who may leverage their positions for personal gain, Suleiman underscored the importance of ethics and certification in banking.
He further elaborated that while banking offers a noble purpose and a high level of service, it is not the industry for those whose primary goal is the accumulation of wealth and luxurious lifestyles. “But if you are looking for wealth and to ride private jets, your ambition has already denied you the ability to be ethical,” he remarked, setting a somber tone for the new inductees about the ethical considerations and responsibilities they must uphold in their careers.
Suleiman’s candid speech has ignited discussions on the expectations and realities of a career in banking, emphasizing the need for ethical conduct and the pursuit of service over personal gain. As the industry continues to evolve, his comments serve as a reminder of the foundational principles that should guide the professional conduct of bankers.
