This is a 10-page pamphlet produced by the Sub-committee on Ethics and Professionalism of the Bankers Committee. The code contains a list of acts, conducts and omissions classified as unethical as well as the frame work for addressing these in the business of banking and finance in Nigeria. The code thus provides the procedure for dealing with complaints of unethical practices and the sanctions for infractions of the provisions.

Unethical practices/unprofessional conduct in banks include but are not limited to the following:

1. Conflict of interests.
2. Abuse of Trust / Office.
3. Misuse of information.
4. Insider Abuse.
5. Offer and Acceptance of Gratification.
6. Non-conformity with standards and Guidelines.
7. Associating with people of doubtful character.
8. Aiding and Abetting.

Sanctions

The Sub-Committee shall apply the following sanctions:

1. The fundamental principles of restoration, retribution, deterrent and equity will be given priority in the application of sanctions on all cases decided.
2. Where offences are clear and contradict existing regulatory guidelines e.g. CBN guidelines - CBN sanctions would apply.
3. For offences with no precedent, the Sub-committee would use its best judgement based on the principles enunciated above. In such cases, the Sub-committee will recommend specific sanctions to the appropriate regulatory body.
4. Individuals may be warned or advised by the Sub-committee where necessary.
5. In all cases of sanctions, specific time-frame shall be stated for compliance.