UNILAG, OAU Students Beat 20 Schools to Win FirstBank Sponsored CFA Ethics Challenge
By Bolaji Israel
A team of undergraduates from the Finance Department of the University of Lagos (UNILAG) led by Eniola Oyenuga has emerged overall winners of the 2022 CFA Society University Ethics Challenge in Nigeria.
Others include Ahmed Suluka, Francis Ogundokun, Tomisin Olaifa and Mariam Adahunse.
The University had last won the inaugural 2016 edition just as the outgoing Vice Chancellor, Professor Oluwatoyin Ogundipe was assuming office and has won again just days to Ogundipe’s exit from office.
Meanwhile, representatives of the Obafemi Awolowo University OAU also emerged runners up while the University of Port Harcourt team UNIPORT came third. The University of Nigeria Nsukka took fourth position following a keenly contested competition which had begun in May 2022 with 22 Schools starting off initially.
13 Universities, comprising 3 from the North and 10 from the South participated in the regional rounds before 4 emerged for the finals in Victoria Island, Lagos on October 29.
During the Ethics Challenge, students were given adapted real life business and financial ethics case studies and required to analyze ethical issues raised, and make recommendations in form of presentations to a panel of financial experts from whom they also fielded related questions.
The panelists included Oluropo Okunmuyide, Head, Litigation & Dispute Resolution, First Bank of Nigeria Ltd; Taiwo Olatunji, CFA, Head, Investment Banking, Coronation Merchant Bank; Tomilola Olakiigbe, CFA, Head Finance, All-On Energy; Eno Atoyebi, CFA, Managing Director, Valualliance Asset Management and Kazeem Alimi, CFA, Head Secondary Markets, NGX Limited.
Speaking shortly after her team was announced 2022 champions, an elated Oyenuga expressed shock and excitement, adding that it was the product of hard work and rigorous preparations.
She said, “I’m still in shock. But it’s excitement all round and I’m really proud to see that the hard work of my team and I paid off. We spent sleepless nights reading all through the standards amidst tight school pressures. So it really means a lot to us recording this win.
“At each stage, there were different feelings so from the semifinals we had to meet on campus, hold virtual calls, late night calls to fit in everybody schedule. but we came out top four and we’re like, oh, this is the final we need to put in more work. So that makes it more demanding, reading more, had to go through the ethics standard and perfect our presentations.”
Oyenuga further expressed gratitude for the opportunity, saying, “I want to say a very big thank you to first bank and also to the CFA society for organizing it.”
Also speaking at the event, Ismail Omamegbe, Head, Corporate Responsibility and Sustainability/Media & External Relations at FirstBank, said the premiere bank believed in education and ethical practices as critical for economy and society, hence the investment and partnership with CFA.
“We believe that education is critical, and remains the bedrock of any economy. So it is material to us in that sense and as an organisation that focuses on nation building, education is very relevant. That is why for example, we’re supporting the university ethics challenge. We’ve been supporting for about five to six years now.
“And also if we look at it from the other angle, in terms of materiality, corporate ethics, ethical practice, ethical values are relevant to any financial institution,” he noted.
He added that the partnership with CFA aligns with the Bank’s commitment to ethics, professional excellence, capacity building and inclusive growth of Nigerian youths and the drive for ethical values.
CFA Society Nigeria President, Ibukun
Oyedeji, expressed optimism on the program and partnership with First Bank.
“CFA Nigeria Ethics challenge was set up to exposure students to required world class professional conduct and integrity globally in in the financial industry
“Our partnership with First Bank has been great and the philosophy aligns with the mission of CFA society, to promote the highest ethical standards in the financial industry. They have supported us consistently since 2017 and we believe we will take it forward together in sharing the news of ethics and standards.