ETHICAL ISSUES IN THE NIGERIAN BANKING SECTOR

The banking sector is considered to be one that is guided by strong ethical principles. However, the reported cases cf distress in the banking sector in Nigeria suggest otherwise This paper examines ethical challenges and unethical practices in the sector using exploratory approach. It identifies some of the unethical practices in the sector to indude: money laundering earring manipulation, employees’ fraudulent practices, forcing cf employees to meet unrealistic bigfi deposit mobilization targets, speculative banking andfinancing cf political campaigns. The unethical practices tend to erode the confidence cf investors, customers and the public at a large as the banks are seen as lacking integrity in their quest to report hinder earring. Banks that engage in unethical practices are very likdy to lose customers and their share cf the market Therefore, the banking sector in Nigeria musterrhrace strong ethical culture supportive cf strong internal controls to mitigate the lead cf frauds and unwholesome practices for a transparent and effective financial intermediation role