Academic City University College has emerged winner of the first-ever National Banking and Ethics Challenge (NBEC), organised by the Chartered Institute of Bankers (CIB) Ghana, in a landmark competition designed to promote ethical standards in the banking profession.
The event, held on Thursday, May 29, 2025, at the CIB Ghana auditorium in Accra, brought together five universities—Academic City University College, University of Ghana, Pentecost University College, University of Professional Studies, Accra (UPSA), and Wisconsin International University College—in a tightly contested quiz focusing on financial literacy, professional conduct, and ethics in banking.
The challenge progressed through three competitive rounds: preliminaries, semifinals, and a climactic final. UPSA and Pentecost University College bowed out in the first round, while Wisconsin exited at the semifinal stage. The final showdown was a fiercely contested intellectual battle between Academic City and the University of Ghana, with Academic City ultimately clinching the top prize.
Participants received plaques and cash prizes, while Academic City took home the grand award—full scholarships for its representatives to pursue professional banking courses at the Institute, along with additional incentives.
The event also served as a platform to address growing concerns about professional misconduct in Ghana’s banking sector. In his keynote address, the Head of the Financial Stability Department at the Bank of Ghana, Dr Kwasi Osei Yeboah, commended CIB Ghana for its leadership in championing ethics-based banking education. He expressed alarm at the rise in bank staff involvement in fraudulent activities, which jumped from 274 reported cases in 2023 to 365 in 2024—an increase of 33 percent.
“This disturbing trend contrasts sharply with the values expected of banking professionals,” he said, calling for urgent stakeholder collaboration to restore public trust. “Ethics must be embedded at every level of banking operations. Events like these are critical in nurturing a new generation of ethically minded bankers who uphold integrity and professionalism,” he added.
The CIB Ghana’s Chief Executive Officer, Mr Robert Dzato, stressed the importance of embedding banking education and financial literacy into everyday institutions such as schools, workplaces, and churches. “We all interact with money—so understanding how to manage it wisely, especially in an inflationary and dynamic economy, is essential for personal and national growth. This challenge is not just a competition; it is a platform for our future banking professionals to engage with ethical standards that are crucial for the integrity of our financial system. We are proud to have initiated this event and look forward to making it an annual affair,” he stated.
Quiz mistress for the competition and Fellow of the Institute, Doris Ahiati, explained that the NBEC was structured to serve three key groups: bank customers, banking professionals, and financial institutions. “This challenge is our way of saying to the customer: we hear you. We are raising the bar in ethics and professionalism to rebuild your trust,” she said.
She commended the students for their performance, highlighting the depth of their understanding and passion for ethical practices in finance. “It is encouraging to see young minds so dedicated to understanding the ethics of banking,” she added.
Vice President of CIB Ghana, Togbe Asiama Krakani V, described the initiative as a timely and transformative step in the Institute’s mission to regulate banking practice and promote professional growth. “This is not just a contest—it is a call to action to embed ethics into the DNA of our future professionals and institutions,” he declared.
