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UBA commits to business integrity

By on February 11, 2014

The United Bank for Africa Plc has reiterated its commitment to adhere to the Convention on Business Integrity, which defines a minimum standard for business integrity in Nigeria.

The Convention on Business Integrity was established with the aim of promoting ethical business practices, transparency and fair competition in the private and public sectors.

Signatories to the convention undertake to observe the values of the code of business integrity, both within their own organisations and in their dealings with customers and partners.

The bank became a member of the body in a signing ceremony held at the UBA headquarters in Lagos on Friday.

The ceremony, which was witnessed by the bank’s board and executive management, represents a clear demonstration of UBA’s commitment to the vision of the Convention on Business Integrity, according to a statement by the bank.

The statement quoted the Group Managing Director, UBA, Mr. Phillips Oduoza, as saying, “Integrity is one of UBA’s core values, represented in the corporate statement of principles: H.E.I.R – Humility, Empathy, Integrity and Resilience; and the bank’s embracing of the CBI’s code underscores its unwavering commitment to carrying out its business with the highest sense of integrity and responsibility.

According to the GMD, the bank adheres to the strictest corporate governance and risk management practices, to ensure the long-term profitability and sustainability of its business.

UBA is a pan-African bank with operations in 19 African countries, New York, London and Paris.

The Executive Director, CBi, Mr. Soji Apampa, said the bank was joining 22 other corporate signatories, which include MTN Nigeria and GT Bank Plc.

According to him, to show their pledge to the CBi, signatories enter into a purely moral commitment with the intent of benefitting from and upholding the platform of credibility, which members of the convention share.

Apampa said, “By this signing ceremony, UBA signals that not every company believes that corruption is the way to go in Nigeria. The bank is signalling that it is on the way to a new beginning in doing business. UBA is saying it is willing to make a public commitment that they will live up to the highest standards expected of a company, which is ready to live up to ethical standards.”

The executive director assured the bank that it was joining a reputable organisation.

CBi, a company limited by guarantee, was established in 1997 with the mission of promoting ethical business practice, transparency and fair competition in the private and public sectors.

 

 

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