During the induction ceremony of 485 new members of the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, Sterling Bank's Managing Director/Chief Executive Officer, Abubakar Suleiman, made a striking statement regarding the misconception around wealth and professional banking.
Addressing an audience that included prominent figures such as former institute presidents and the Lagos Commissioner of Finance, Abayomi Oluyomi, Suleiman emphasized the service-oriented nature of banking. He cautioned that a career in professional banking should not be seen as a direct path to becoming a billionaire, especially through unethical means.
Suleiman pointed out, "If your purpose is wealth... if you find a banker, a professional banker, not an owner, not an owner-manager, not an entrepreneur in banking but a professional, and he says he’s wealthy, look at the person and ask how? By virtue of being a professional in employee status, that is not the road map to ‘billionaireship’ unless you are a thief."
He highlighted the importance of purpose in banking, stating that while banking can offer a meaningful purpose and higher levels of service, those solely driven by wealth and luxury have already compromised their ethical standing.
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