In a remarkable display of academic excellence and ethical commitment, Team Unilag from the University of Lagos (UNILAG) emerged as the victors of the 2024 University Ethics Challenge Competition. The event, organized by the Chartered Financial Analyst (CFA) Society in collaboration with First Bank Nigeria, aimed to promote sustainability, uphold high standards of professionalism, and instill strong ethical values within Nigeria’s financial system. This prestigious competition saw 28 universities from across Nigeria compete, with UNILAG ultimately securing the top spot.
The competition, which emphasized the importance of ethics in the financial industry, brought together universities from all over the country, including prominent institutions such as the University of Ibadan (UI), Obafemi Awolowo University (OAU), Lagos State University (LASU), Covenant University, Madonna University, University of Ilorin (UI), and the Federal University of Technology, Owerri (FUTO). After rigorous rounds of competition, the field was narrowed down to eight finalists, with each team showcasing their commitment to sustainable and ethical practices in finance.
Mr. Yemi Ajagun, Deputy Director of the CFA Society Nigeria, played a pivotal role in the organization of the event and stressed the importance of ethical conduct in finance. He explained, “Ethics is at the core of what we do at CFA Society of Nigeria. We aim to instill ethical and professional conduct among students aspiring to enter the industry.” Ajagun further emphasized the broader mission of the event, which is to equip students with the skills and knowledge necessary to excel in the competitive world of finance.
The competition was unique in that teams were composed of members from investment clubs established across various Nigerian universities. Each team consisted of two males and two females, supported by a faculty advisor. Ajagun highlighted the significance of these investment clubs, stating, “We are establishing investment clubs across Nigerian universities. Members of these clubs participate in this challenge, helping to equip them with the skills needed for their future careers.” This structure not only allowed for inclusivity but also provided a platform for students to hone their skills in a collaborative environment, reflecting the real-world dynamics of the financial industry.
The event was not just about competing for prizes but also about enriching the participants with valuable knowledge and exposure. As Ajagun pointed out, “The ultimate goal is for these students to be well-prepared professionals by the time they enter the workforce.” The CFA Society’s commitment to nurturing ethical and skilled professionals was clear throughout the competition, as students demonstrated not only their knowledge of finance but also their ability to navigate complex ethical dilemmas in the sector.
In addition to the accolades for the top teams, the competition also recognized individual achievements in the category of best speakers. Isaac Ojugbana from Covenant University claimed the first-place award, while Idongesit Daniel from the University of Lagos and Olamide Lasisi from the University of Ibadan secured second and third places, respectively. These awards highlighted the eloquence and analytical skills of the participants, further showcasing the depth of talent in Nigerian universities.
Thomas Akinleko, representing the CEO of First Bank Nigeria, Olusegun Alebiosu, emphasized the bank’s long-standing commitment to promoting sustainability and financial literacy. He remarked, “For over 130 years, First Bank has promoted sustainability in entrepreneurship, professionalism, education, and financial literacy. By partnering with the CFA Society of Nigeria, we aim to equip students with the ethical framework necessary to navigate the complexities of the financial sector.” First Bank’s partnership with the CFA Society underscores its dedication to fostering the development of future leaders in the financial industry.
At the conclusion of the event, the University of Lagos was awarded the top prize, a well-deserved recognition for their outstanding performance. Obafemi Awolowo University and Covenant University secured second and third place, respectively, rounding off the top three spots. This victory for UNILAG marks another milestone for the university, which has consistently demonstrated excellence in academic and ethical pursuits.
The success of the 2024 University Ethics Challenge Competition serves as a testament to the growing emphasis on ethics, sustainability, and professionalism in Nigeria’s higher education system. By fostering these values in the next generation of financial leaders, the CFA Society Nigeria and First Bank are helping to shape a future where integrity and responsibility play a central role in the financial sector.
