Is your Nigerian bank misbehaving? Blow the whistle!

Whistleblowing by definition according to Kunle Obebe  is the disclosure by organization members (former or current) of illegal, immoral or illegitimate practices under the control of their employers, to persons or organizations that may be able to effect action

“the disclosure by organization members (former or current) of illegal, immoral or illegitimate practices under the control of their employers, to persons or organizations that may be able to effect action.”

Thus by this definition, the whistle blower is an employee who tells “their employer, a regulator, customers, the police or the media about a dangerous or illegal activity that they are aware of through their work.”

The African Development Bank group has a robust Whistleblowing policy which covers a wide-reaching number of areas namely:

–       Unlawful acts or orders requiring violation of a law, gross waste, mismanagement, abuse of authority, substantial and specific dangers to public health or safety;

–        Failures to comply with statutory obligations

–       Fraud

–       Corruption, which means the offering, giving, receiving, or soliciting, directly or indirectly bribes

–       Misconduct, which means failure by Bank Personnel to observe the Bank’s rules of conduct or standards of behavior;

The full policy can be accessed and downloaded on the African Development Bank website via:  http://www.afdb.org/fileadmin/uploads/afdb/Documents/Policy-Documents/18136242-EN-WHISTLE-BLOWING-POLICY-FINAL-FINAL-WKF.PDF 

Several  Nigerian banks have implemented dedicated internal whistle blowing policies. In my humble opinion, these are the guys who are (at least publicly) promoting corporate transparency and enhancing good governance. Change they say, begins from the top.

1. Sterling Bank

“Staff are encouraged to speak up when faced with information that would help protect the bank’s reputation. An essential attribute of the process is the guarantee of confidentiality and protection of the whistle blower’s identity and rights.”

Whistle Blowing site : http://www.sterlingbankng.com/cuscare/contactus.aspx#ccComplaint

• Skye Bank

At Bank PHB Plc, we cherish the ideals of good corporate governance – honesty, fairness, accountability, integrity, professionalism, and ethical management practices. To report unethical or unprofessional conduct by any of our officials, send your report to any or all of the followings:

• Managing Director/CEO, Bank PHB, Plot 707, Adeola Hopewell Street, Victoria Island, Lagos;
  email – ceo’soffice@bankphb.com
• Ag Group Head, Corporate Audit, Bank PHB, Plot 707, Adeola Hopewell Street, Victoria Island, Lagos;
  email – waidigbadamosi@bankphb.com
• Group Head, Legal Services, Bank PHB, Plot 707, Adeola Hopewell Street, Victoria Island, Lagos;
  email – michaelagamah@bankphb.com
• Director of Banking Supervision, Central Bank of Nigeria, Central Business District, Cadastral Zone, Abuja, FCT, Nigeria; email – imala@cenbank.orgYour report will be treated with utmost confidentiality.
• Diamond Bank (Includes customer fraud complaints and a hotline which is open from 8am to 10pm)

http://www.diamondbank.com/component/content/79.html?task=view

•  FCMB

http://www.firstcitygroup.com/fcmb/index.php?option=com_content&view=article&id=114:whistle-blower&catid=27:security&Itemid=33

• Intercontinental Bank

http://www.intercontinentalbankplc.com/portal/general/footerdocuments.php?id=18&pid=6&pname=Scam%20Alert

• GTBank – Forms for reporting complaints against staff

http://www.gtbank.com/whistle-blower.html

• Same as Unity bank …

http://www.unitybankng.com/whi.php

I think in banks which do not offer a dedicated whistle-blowing channel, whistle blowers can use the following channels:

–         Director of Banking Supervision, Central Bank of Nigeria, Central Business District, Cadastral Zone, Abuja, FCT, Nigeria; email – imala@cenbank.org 

–       KPMG ethics line http://www.kpmg.com/NG/en/IssuesAndInsights/ArticlesPublications/Documents/Forensic%20-Ethics%20Line.pdf