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\title{Effect of Ethical and Professional Values on the Operations of Deposit Money Banks in Nigeria}
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             \author[1]{Tajudeen Tewogbola  Lawal}

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\date{\small \em Received: 9 December 2018 Accepted: 31 December 2018 Published: 15 January 2019}

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\begin{abstract}
        


This study examined the effect of ethical and professional values based on the socio-economic factors affecting banking operations of deposit money banks in Nigeria. Prior studies have not dwelt or investigated extensively on ethical and professional practices by banks especially in developing world like Nigeria. Hence, there is the need to evaluate the effectiveness, enforcement and compliance by banks of the codes of ethics and professionalism for the banking industry in Nigeria. Mixed research design method employed with the aid of primary data collected through close ended structured questionnaire from 200 respondents purposively selected from the commercial deposit money banks and three core regulatory institutions for the industry. Both descriptive and inferential statistics were employed to analyze the data and the hypothesis tested with Pw and Kendall?s Tau Correlation Coefficients. Findings revealed that the level of ethical and professional competence have not improved as expected. Furthermore, a weak correlation was established between the socio-economic factors and the level of ethical and professional banking practice in the industry with -0.3135 and -0.2510.It was concluded by the study that commercial banks in Nigeria have not improved significantly on adherence to the ethical and professional codes of conducts of the profession. Compliance to shared ethical and professional values have not been adequate among the banks. The study revealed that poor socio-economic business environment, the obsolete code of ethics, ineffective communication system, poor employment methods and inadequate training were responsible for the poor ethical and moral standard. It was suggested that adequate training facilities and funding must be considered by banks as a means of enhancing ethical and professional values in the Nigerian banking system and in deed to other businesses.

\end{abstract}


\keywords{code of ethics, professional value, enforcement mechanism, business environment.}

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\section[{Introduction}]{Introduction}\par
anking business as a form of business organization are globally accepted as the bedrock of any nation's economy and thereby serve as the wheel of economic growth and development in both developed and underdeveloped economies of the world  {\ref (Ifionu et.al. 2016;}\hyperref[b6]{Akhtar et. al. 2010}\hyperref[b9]{\& Auta 2010)}. Corroborating this assertion,  {\ref Ebenezer et. al. (2010)} submitted that banks are highly preserved, regulated and monitored worldwide. Banking is an age long profession and its origins can be traced to the London goldsmiths of the 17 th century which began the acceptance of deposits of coin and other valuables, royal mint from merchants and wealthy people alike.  {\ref (Doyle \& Kelly, 1981)}.Section 61 of the Banks and Other Financial Institutions Act, 1991 defined banking business in Nigeria extensively as the business of receiving deposit on current, savings or other accounts, paying or collecting cheques drawn or paid in by customers, provision of finance et cetera under the auspices of the Governor of the Central Bank of Nigeria as may be designated as banking business. As a dynamic business, an allowance for reform in line with economic realities of Nigeria was provided. Banking business was first introduced into the Nigerian economy in 1892 through African Banking Corporation and Bank of British West Africa in 1894 and this can be grouped into banking phrases as a way of classifying them into distinct banking developmental stages (Okonkwo, 1991; Goldface-Irokalibe, 2010).\par
Banking business needs to be properly and continuously regulated due to the pivotal roles it is expected to play in the economy, therefore there is the need to constantly review and reform its procedures, processes, methods, values, peoples' orientation, attitude and behaviors towards banking service both at the providers' end (staff, investors) and the receivers' end (customers and society). Against the backdrop of financial regulation and supervision, this can be associated with moral hazard, government safety net arrangements that are designed to protect the banking and financial system  {\ref (Barbara et.al. 2006}).High professional and ethical standards are critical to the continued existence of the banking sector since they trade on money, which they held in trust for the depositors (fiduciary function).  {\ref Auta et.al. 2010} submitted that banks engaged in financial intermediary role in any economy all over the world.\par
Ethics in banking business is to direct businessmen and women in banking to abide by certain codes of conducts that can facilitate and increase public services and confidence in the delivery of banking services as well as increase its utility to all its stakeholders. \hyperref[b34]{Odozi (2007)} in defining "ethics as the rules or principles of appropriate behavior or conduct for bankers. More specifically, it relates to principles of morality and encompasses doing what is good and right, even when that will bring us some pain". \hyperref[b1]{Adelabu (2008)} expatiated that ethics is the study of moral principles, beliefs, attitudes and how people should conduct or behave in social interactions. Therefore, personal, business and professional ethics have consciously or/and unconsciously evolved over time in order to regulate, control and improve banking service delivery professionally. Professional ethics involve the standards of competence and practice or code of conduct expected of the professionals or trade group or association, both written and unwritten. However when ethics and professionalism are combined as professional ethics, it involves a nexus of written and unwritten worms and best practices such as honesty, integrity, competence, loyalty transparency, accountability et cetera. \hyperref[b34]{(Odozi, 2007)}. Ethical and professional standard must be set by the individual employee, group organization and professional bodies so as to prevent human excesses in terms of greed, lust for power, fraud and other malpractices usually exhibited by people (bankers).\par
Adewumi  {\ref (2002)} reported that ethical standard is the level of behavior or conduct that is considered or adjudged morally right and acceptable by people. It is a just and fair conducts which goes beyond observing the normal laws, rules and regulations but includes the intrinsic display of high level of discipline, intelligence, perseverance, honesty, transparency, fairness and morals. It includes a set of generally acceptable and practice standards of ethical and moral issues involving dilemmas and conflict of interests from the individuals, groups and organizations alike. \hyperref[b4]{Adewunmi (2002)} therefore remarked that, the fluidity of human behavior in response to environmental challenges has made ethics and professionalism a dynamic process that requires academic studies. Ethics is proactive since it focuses on doing "good" while morality emphasizes not doing harm or avoiding harm to others  {\ref (Fisher \& Lovell 2003)}. Honesty can also be linked with trust and confidence, strong belief in doing good always, reliability and belief in doing the right thing (ethics).\par
Confidence is confiding in or telling ones secret or person who is trusted with private affairs of somebody, belief in oneself or what is said or done on behalf of others. Bank relies on public confidence which is the pivot and essence upon which financial intermediation revolves \hyperref[b29]{(Lawal, 2011)}. This journal paper has contributed to knowledge through its use of statistical and empirical analysis in contributing to the existing body of knowledge generally. The study is systematically divided into five sections: introduction incorporating statement of problem and study's literature review, research methodology, results and discussion while conclusion and recommendation makes the fifth section accordingly. 
\section[{II.}]{II.} 
\section[{Statement of the Problem}]{Statement of the Problem}\par
The ethical difficulty that arise from the traits of honesty, good faith, trust and confidentiality of bankers borders on how to balance their behaviors with these traits while conducting banking transactions or during banker customer relationship especially marketing, deposit collection, credit administration, settlement of payment (cheque clearing) and account opening formalities. \hyperref[b38]{Omokhuale (2002)} stated that unethical conduct manifests itself in various ways including violation of banking laws and contravention of professional ethics, insider abuses, fraudulent dealings (malpractices) mismanagement, poor credit documentation and perfection of security documents, granting of huge loans to the executives and their surrogates without due process, boardroom greed of paying inexplicable whooping bonuses to members and their cronies, et cetera. Greed, among other reasons was identified as the causative agent for high incidence of fraud and other unprofessional conduct in the Nigerian banking industry.  {\ref Nwankwo (2001)} had earlier corroborated that the "crisis of confidence in the Nigerian banking sector manifested itself in technically insolvent and distressed institutions, bank failures, large portfolio of nonperforming credits, several liquidity problems, gross mismanagement, mismatch of the supervisory and abuse of executive capacity. All these problems relate to the ethical and professional standards as well as the enforcement mechanisms put in place by the industry". Some of the casual factors to the ethical and professional infractions may be due to greed of the banking personnel, poor recruitment policy, poor corporate governance, unsuitable and unqualified candidates are employed to work at some technical departments like credit risk management, corporate finance, inspection among others. Graduates from nonbanking and finance disciplines, they even employ long unemployed relations or in-laws of questionable characters who usually contaminate others \hyperref[b28]{(Kolawole, 2004)}.\par
According to \hyperref[b34]{Odozi (2007)} and Lawal (2014), the summary of the common problems that are likely to promote or determine ethical and professional values for the Nigerian banking practices include among others: the recent ICT explosion ravaging the industry and the effect of e-banking services and many other unethical and professional abuses in the banking system. Inwalombe (2018) had observed that the ATMs of the banks failed their customers mostly due to their inefficient performance ranging from insufficient dispensing of funds, long queues occasioned by malfunctioning and the inadequate limit of maximum amount withdraw able per transaction. Additionally, in an attempt to showcase how important the issue of security in banking operation is, Adeduntan (2018) submitted that the CBN has mandated all banks to create security operation centers as well as evolving the strategy of right people with right attitude, right technology, right process, and right governance for the Nigerian financial system.\par
All the aforementioned infractions are ethically and professionally related and attributable to the country's banking architecture, socio-economic infrastructure, bankers' behavior generally and specifically technology with use of the ATMs to cope with the growing demand of the customers and the susceptibility of the machines to systems failure especially in the urban commercial centers. It is therefore imperative to conduct a research to examine and seek answers to the above and many other related questions. 
\section[{a) Objective of the study}]{a) Objective of the study}\par
The objective of the paper is to examine the socio-economic factors that determines ethical and professional practice and values for banks in Nigeria. 
\section[{b) Research Hypothesis Statement}]{b) Research Hypothesis Statement}\par
Ho 1 : There is no significant effect of socio-economic factors on the level of ethical and professional banking practice and values in Nigeria. 
\section[{III.}]{III.} 
\section[{Literature Review a) Conceptual Framework}]{Literature Review a) Conceptual Framework}\par
Banking business remain one of the businesses that anchors the development of any economy in the world, hence it occupies a pivotal position in either developed or underdeveloped economy. Banking business is defined by Section 61 of Banks and Other Financial Institutions Act (No.25) 1991 (as amended). Doyle and Kelly (1981), stated that "banking operation starts with opening of account(s), running of the account(s) and subsequent termination of the conceptual relationship between the customer and bank". Banking business acts as lubricant to other businesses or sectors of the economy hence, it is strategically positioned to provide the much needed financial impetus to them through financial intermediation process. It includes mobilizing funds from the surplus unit to the deficit unit. \hyperref[b28]{Kolawole (2004)} submitted that to mobilize funds from other people, ethical and professional controls are usually expected of banks for effective and functional banking services. 
\section[{i. Concepts of Business Ethics and its Evolution}]{i. Concepts of Business Ethics and its Evolution}\par
Ethics has been variously defined by philosophers/scholars as one of the core branches of moral philosophy and as a fundamental part of the critical examination of life which dates back to pre-Socratic times and as old as the history of rational reflective thought. Ethics is defined or viewed as a normative science of human conduct that differs from the physical sciences. It deals with the standard or principle of right or wrong, good or bad behavior. It represents an intellectual enterprise, a rational and intellectual inquiry into the language of morals and human actions or affairs for knowledge seeking as well as attempting a systematic study of human conduct (Oruka, 2007). Oke and Esikot (1999) stated that ethics is interested in only human behavior or conduct where one is able to make a choice between alternative courses of action rather than another (conflict of interest and ethical dilemma).\par
Ethics, derived from the Greek word "ethos" meaning distinctive moral ideas and attitudes of a people that can be regarded as "custom" or "character" while "morals" comes from the Latin word "mores" meaning custom or manner that's concerned with right or wrong, good or bad. It is a set of principles held by an individual or group or the discipline which studies those ethical principles. \hyperref[b16]{Duska and Duska (2006)}  The Chicago Journals of moral, political and legal philosophy in 2010 defined ethics as a system of moral principles, a culture and it is known as moral philosophy which seeks to address questions about morality per se. Okoduwa (2007) also defined ethics as moral principles that control or influences a person's behavior with synonyms for the word ethics which include principles, standards, values, morals, ideas, beliefs, codes etc. It gives an insight into the nature of ethics which may be defined as a term standing for honesty, integrity, respect, compassion, fairness, loyalty, love, dependability, courage and good citizenship. Suffice it to say that ethics has its roots in the good virtues of ideal/ standard behavior to be practiced/ exhibited by everybody all the time. Ajayi (2007) also posited that ethics is the study of the general nature of morals and of specific moral choices; moral philosophy and the rules or standards governing the conduct of the members of a profession or an organization. Ethics may further be explained to mean an inquiry into the nature and grounds of morality which is taken to mean moral judgments, standards and rules of conduct. \hyperref[b19]{Ekundayo (1999)}, however submitted that ethics means the norms and morals that guide the practice of an occupation to ensure just and fair discharge of duties and avoidance of abuse of privilege. Ethics was also defined by  as "relating to the rules and ethos that guard conduct and relationship in a given calling. Such rules, which hinge on morality, could be written or implied from practice". \hyperref[b5]{Ajayi (2007)} submitted that ethics are moral codes, principles and 
\section[{Global Journal of Management and Business Research}]{Global Journal of Management and Business Research}\par
Volume XIX Issue III Version I ( ) C conventionalities inherently implied in the practice of any organization, community or profession. It also comprise of the standards expected of people at the individual, corporate or community levels. Personal ethics involves personal beliefs, attitudes, morals, standards of behavior while business ethics is a form of applied ethics that examines ethical principles and moral or ethical problem arising in the business environment.\par
Business ethics can be both a normative and a descriptive discipline for corporate practices or as an academic discipline or a career specialization. The field is primarily normative in academia and descriptive approaches are employed to it. Professional ethics however is the combination of ethics and professionalism for standard norms and best practices that anchors honesty, integrity, competence, transparency, accountability among others \hyperref[b29]{(Lawal, 2011)}. As an applied ethics, it's simply the practical application of ethical principles for the purpose of resolving ethical problems in the different fields of human endeavors. It connects with ethical issues that arise and be begging for solutions as they come e.g. medical ethics, Business ethics, environmental and educational ethics, ethics of banking etc. business ethics is the ethics governing the maintenance of business as a profession consisting in sets of restraints mutually agreed upon by practitioners and is an etiquette such as the Nigeria Standards Organization (NSO), Central Bank of Nigeria(CBN) and Chartered Institute of Bankers of Nigeria (CIBN). \hyperref[b2]{Adesiyan (1983)} had earlier suggested some of the factors that can influence the degree of the effectiveness of an ethical managerial decision: information, timeliness, capability and competency of the decision maker, organizational culture and the external environmental conditions available. According to \hyperref[b34]{Odozi (2007)} and \hyperref[b30]{Lawal (2014)}, both defined ethical dilemma as "a situation in which all available courses of action appear to include morally-undesirable as well as morally desirable aspects in a given situation". It also involve situations when a difficulty of choice or balancing of choice must be made amongst available courses of action. 
\section[{ii. Concepts of Profession and Professionalism in banking}]{ii. Concepts of Profession and Professionalism in banking}\par
Okafor (2007) defined profession as an occupation which demands a highly specialized knowledge and skill acquired at least in part of some form of examination either at a university or some other institutions and conveying to the persons who possess them considerable authority in relation to clients, such authority which is carefully maintained by guild-like associations of practitioners which lay down rules of entry, training and behavior in relation to the public and watch over their professional status. They further clarified that profession needs to meet the following FIVE basic requirements:\par
i. The acquisition of knowledge and skills which can be through some system of education and training and technical competence,\par
iii. The institutionalization of self-control and discipline by and for the members where members of the profession self-regulate themselves, by strictly complying with the profession's behavioral norms while serving their customers. iv. The concept of service and social interest whereby the professional. Put in their service at the disposal of clients at an agreed remuneration. Real professional practitioners subordinates their own self-interest to those of their customers'; and v. A scenario where there is an effective community or environmental enforcement of their professional codes as well as the appropriate sanctions for noncompliance. Ekundayo (1999) defined professionalism as the art of developing and using skills relevant for the practice of an occupation or vocation for mutual benefits of provider and receiver of services. It is an efficient practice of the theories and training in an occupation or vocation.\par
Esezobor (2010) however defined professionalism as the standard of competence and technical skills expected in an occupation. \hyperref[b7]{Ali (2005)} submitted that it can only be expected in an occupation and can only be achieved by conscious development of skill, attitude and knowledge of skill, attitude and knowledge through the process of training. 
\section[{b) Theoretical Framework}]{b) Theoretical Framework}\par
Duska and Duska (2006) defined an ethical theory as "prescribing those principles that provide the overriding justifying reason for pursuing any course of action". It therefore follows that the nature of ethical theories arrived at will provide the ultimate principle to solve dilemmas either at home, workplace or in any social organization. The consideration of what is good for all the people affected by our decisions, priority for fairness, honesty and doing more good than harm to others is paramount. However, whether we do good or not, do not matter to some people but the consequences of our behavior matters to some people. Following theoretical foundations have been provided for the research for relevance as indicated below: 
\section[{i. Agency Theory}]{i. Agency Theory}\par
The origin of Agency theory could be traced to Ross (1973) on economic theory of Agency while \hyperref[b31]{Mitnick (2006)}  with the justification that on the basis of government goals of safety and protection. Agency as a theory is used to describe and explain the relationships especially between the principal (owners) and the agents (managers) of businesses. Agency relationships occur when the principal hire the agent to perform a service on the principal's behalf, as principals commonly delegate decision-making authority to the agents. \hyperref[b27]{Jensen and Meckling (1976)}, defined agency theory as a contractual agreement under which one or more persons (principal) engage another (agent) person to perform certain service(s) on their behalf including delegation of some decision making authority to the agent. Agency theory therefore provides the means to address relationship between two or more contractual and/ or implied parties which may erupt problems. Some of the problems include adverse selection, moral hazard and agency costs. This is however different from the position of Williamson  {\ref (1985)}. \hyperref[b32]{Mitnick (1973)}, states that agency problem are in three ways as principal's problem, agents problem and policing/monitoring mechanisms and incentives. Agency problem arise as a result of conflict of interest and information asymmetry between the principal and the agent. According to Umar (2015), the theory's major aim is that government agencies must be present to supervise and check the excesses of financial institutions for the financial system to be safe, protected and sound. He observe that the theory focusses on the problems of hidden actions and information (information asymmetry) from both parties but usually from the agents to the principal. Undoubtedly, agency theory is based on the incompleteness of contract and the separation of ownership (shareholders) and the control (management), which is the main characteristic of firms or institutions nowadays. Agency problem arise due to inefficiencies in resource allocation which is limited in supply and incomplete information \hyperref[b32]{(Mitnick, 1973)}.\par
Agency problem can be minimized through contract designing so as to be competitive in line with market dictates. This measure may go a long way at optimizing the resources of the firm especially to achieve cost/operational efficiency \hyperref[b27]{(Jensen \& Meckling, 1976)}.The two are related to asymmetric information (such as adverse selection regarded as hidden information and moral hazard referred to as hidden action). Adverse selection occurs where asymmetric information exist before the transaction (contract) leading to inefficient allocation of resources. Moral hazard describes an agency problem which exists after a transaction is executed, from where inefficient resource allocation would have been made. Both terms have their linkages to the insurance industry as a constituent member of good financial system where banking and non-banking institutions are present  {\ref (Ross, 1973)}.\par
According to  {\ref Jensen (2004)}, a well-designed pay packages can mitigate the agency problems between managers and shareholders and well-designed corporate policies and processes can mitigate agency problems between members of the board and shareholders. They both focus on different parties striving to achieve same corporate objectives of the firm.\par
The assumption that all directors are greedy may not hold always but it is better to assume that a small minority of them are responsibly greedy in business practice. The relevance of this theory rests on the fact that adequate information must pervade within the system in order to avoid asymmetric information which is counterproductive to high ethical and professional standard. 
\section[{ii. Utilitarian Theory}]{ii. Utilitarian Theory}\par
Another relevant theory to the study is the ethical philosophical foundation of utilitarianism of Jeremy Bentham and Mill which placed more emphasis on our feelings, especially the feelings of pleasure and pain, as the guide for ethics. It is called happiness which has the intrinsic value of pleasure and freedom from pain \hyperref[b36]{(Oke \& Esikot, 1999)}. The theory states that whatever gives us the greatest pleasure and the least amount of pain is the standard for morally good behavior. "Good" from the moral view establishes a standard by means of which moral judgments can be pronounced. Mill and Oruka (2007) advocated higher pleasure (physical and intellectual) and rich in enjoyments, or the explanation of the rightness of human actions both in terms of quality and quantity as evaluation of consequences.\par
Utilitarianism which is an ethical empiricist theory known as the "goods perspective" says morality is thought to be the pursuit of a goal or an end. It holds that the supreme moral standard is both what persons aim at when they act, and the reference for evaluating their actions as "good" which is termed generally as "happiness". It is characterized as a quantitative and reductionist approach to ethics. Happiness according to Oke and Esikot (1999) "can be regarded as a normal standard upon which a moral law and an ethical theory can be built, a point of reference from which conduct can be judged to be good or bad, right or wrong, just or unjust.\par
Mill and Bentham who are the classical utilitarianism influential contributors stated that utilitarianism is a theory in normative ethics holding that proper course of action is the one that maximizes utility, usually defined as maximizing total benefit and reducing suffering or the negatives. It is now generally taken to be a form of "consequentialism". The theory believes in the principle of utility that actions are right in proportion as they tend to promote greatest happiness. Happiness here means "not the agent's own greatest happiness but the greatest amount of happiness altogether," while utility has to do with the usefulness or value of a thing, a product or service, a policy. Utility is defined as the standard for measuring the propriety of our conduct or approach and the capacity to meet the needs and aspirations of the people (customers). That is, do that action which will bring about the greatest good for the greatest number of people and that is why it is called "consequentialist" form of ethical theory. It differs significantly form other forms like egoism since it focuses on all concerned including self. According to Oruka (2007), ethical theories are verifiable or disproved by the process of objective reasoning which could be either deductive or inductive reasoning.\par
Consequently, an ethical banker must focus on the happiness of the customer through the application of a banking term known as "Know your Customer" (KYC). It is a term which holds its principles on the total satisfaction of the customer by building a robust banker customer relationship through good business advisory services, account and financial services/credit, other ancillary banking services which has the customer's satisfaction as the center point or pivot of the banking relationship. Thus in practice, the relevance of this theory has been built around the concept of "customer relationship management" with emphasis on total customer satisfaction.\par
IV. 
\section[{Research Methodology}]{Research Methodology}\par
This study specifically adopted the mixed research method by making use of questionnaire and subjecting same to inferential statistical analysis through Pw and Ktau's correlation coefficients. This study employed the five step approach of data validation, coding, data entry, error detection and data tabulation to have a more robust result. The study's population comprise of 21 deposit money banks as at December, 2016 and three regulatory institutions in Nigeria. Data collection was from primary source through the instrument of questionnaire. 187 questionnaires returned from the 200 questionnaires distributed representing 93\% response rate. According to \hyperref[b8]{Asika (2002)}, questionnaire provides a platform on which social variables could be measured with impact on service users and providers such as bank.\par
V. 
\section[{Results and Discussion}]{Results and Discussion}\par
The study was carried out in the southwestern part of Nigeria as the financial hub of Nigeria in terms of bank presence and branches (CBN 2012). The study examined the socio-economic factors that determines ethical and professional banking practice in Nigeria. The results as revealed through the correlation coefficients indicated and confirmed that socio-economic factors influence ethical and professional performance of banks. The result showed weak negative correlation coefficients of -0.3135 for the extent of working hours that can increase staff productivity and weak negative correlation of -0.1250 for the general conditions of service, recreational and sporting activities by bankers. Thus, this suggests that the higher the social economic factors, the lower its effect on the ethical and professional values in the banking system. The implication of this is that the socio-economic status of bankers needs to improve since these factors have statistical significance to higher productivity and profitability of banks. Summary of correlation coefficient and K tau correlation tables 4.1 and 4.2 are shown below: From table  {\ref 4}.1 above, it has been revealed that the degree of dispersion and variation relative to the mean and average distribution of the population shows a higher degree of variability indicating that the data is fit with standard deviation of 1.05 and mean of 4.27. The sampled banks socio-economic variables are spread across the country and not enough for their adequate employment for the discharge of functional banking responsibilities required of today's banking system.  The table 4.2 above depicts that there was weak negative correlation of socio-economic variables to the length of long working hours and poor conditions of service for an efficient banking delivery in Nigeria (-0.3135 \& -0.2510). The socioeconomic factors present in the Nigerian system are grossly inadequate to capture the pace of both technological, socioeconomic, financial/banking development as at now. The issue of cybercrime, security threats and poor communication system pervading the entire financial landscape is worrisome and negatively affecting efficient banking services in Nigeria. 
\section[{VI. Conclusion and Recommendation}]{VI. Conclusion and Recommendation}\par
Based on the findings from this study, it was concluded that banks as a business unit have not improved their ethical and professional norms and values through flagrant disobedience to banking rules, laws and regulation. Thus, a lot of professional abuses are exhibited as regards operational procedures, poor corporate governance and poor asset quality, all revolving on banker customer relationship among others. Government through the Central bank of Nigeria and other regulatory agencies have not been adequate in terms of monitoring and examination of banks generally. It was further revealed that the enforcement mechanism of the regulatory institutions had not been up to standard especially in the area of e-banking. The conclusion by the study is that deposit money banks in Nigeria have not improved significantly on adherence to the ethical and professional codes of conducts of the profession, thus affecting their efficient performance.\par
Compliance to shared ethical and professional values that have not been adequate among the banks. Government needs to improve the operational environment of the financial system in terms of security, power/electricity provision, road networks and other socio-infrastructural facilities for the country to aid ease of doing business in Nigeria as presently being championed. The present training facilities of the banks should be expanded to the Universities and Polytechnics to accommodate adequate training on ethical and moral standard that may influence bankers' behavior in the daily discharge of their duties. This will go a long way to attract foreign direct investment to the country and essentially improve the general economy. Further research could be embarked on the ethical and professional compliance of rules, code of ethics specifically from the corporate governance/directors' end for the banks and other business sectors in Nigeria.  \begin{figure}[htbp]
\noindent\textbf{} \par 
\begin{longtable}{}
\end{longtable} \par
 
\caption{\label{tab_0}}\end{figure}
 \begin{figure}[htbp]
\noindent\textbf{} \par 
\begin{longtable}{P{0.85\textwidth}}
aspect of Agency. Jensen and Meckling (1976) equally\\
remains one of the proponents of this agency. The\\
theory was further developed by Grossmanet al. (1980)\\
ii. The establishment of a set of recognized ethical\\
norms shared and applied by the members of the\\
profession. Usually, these norms defined what\\
proper or improper behavior is in professional\\
service for clients,\\
Year 2019\\
4\\
Volume XIX Issue III Version I\\
( ) C\\
Global Journal of Management and Business Research\\
© 2019 Global Journals 1\end{longtable} \par
 
\caption{\label{tab_1}}\end{figure}
 \begin{figure}[htbp]
\noindent\textbf{41} \par 
\begin{longtable}{P{0.21636363636363634\textwidth}P{0.09272727272727271\textwidth}P{0.20863636363636362\textwidth}P{0.24727272727272726\textwidth}P{0.038636363636363635\textwidth}P{0.04636363636363636\textwidth}}
Variable\tabcellsep Obs\tabcellsep Mean\tabcellsep Std, dev.\tabcellsep Min\tabcellsep Max\\
VI\tabcellsep 187\tabcellsep 94\tabcellsep 54.1264\tabcellsep 1\tabcellsep 187\\
Socioec\tabcellsep 187\tabcellsep 4.272727\tabcellsep 1.055174\tabcellsep 3\tabcellsep 5\\
Lwh\tabcellsep 187\tabcellsep 1.989305\tabcellsep 1.307502\tabcellsep 1\tabcellsep 5\\
Recsp\tabcellsep 187\tabcellsep 3.304813\tabcellsep 1.409693\tabcellsep 1\tabcellsep 5\\
Cons\tabcellsep 187\tabcellsep 3.882353\tabcellsep 1.386207\tabcellsep 1\tabcellsep 5\\
Bcha\tabcellsep 187\tabcellsep 4.128342\tabcellsep 1.023697\tabcellsep 1\tabcellsep 5\\
Itech\tabcellsep 187\tabcellsep 3.748663\tabcellsep 1.412668\tabcellsep 1\tabcellsep 5\\
*ktau: (obs = 187)\tabcellsep \tabcellsep \tabcellsep \tabcellsep \tabcellsep \end{longtable} \par
 
\caption{\label{tab_2}Table 4 . 1 :}\end{figure}
 \begin{figure}[htbp]
\noindent\textbf{42} \par 
\begin{longtable}{P{0.15454545454545454\textwidth}P{0.19318181818181818\textwidth}P{0.15025252525252525\textwidth}P{0.13308080808080808\textwidth}P{0.10303030303030303\textwidth}P{0.06868686868686869\textwidth}P{0.04722222222222222\textwidth}}
Variable\tabcellsep Socioec\tabcellsep Lwh\tabcellsep Recsp\tabcellsep Cons\tabcellsep Bcha\tabcellsep Itech\\
Socioec\tabcellsep 1.0000\tabcellsep \tabcellsep \tabcellsep \tabcellsep \tabcellsep \\
Lwh\tabcellsep -0.3135\tabcellsep 1.0000\tabcellsep \tabcellsep \tabcellsep \tabcellsep \\
Recsp\tabcellsep 0.2510\tabcellsep -0.2812\tabcellsep 1.0000\tabcellsep \tabcellsep \tabcellsep \\
Cons\tabcellsep -0.1250\tabcellsep 0.1891\tabcellsep -0.1631\tabcellsep 1.0000\tabcellsep \tabcellsep \\
Bcha\tabcellsep 0.0819\tabcellsep 0.0332\tabcellsep -0.0459\tabcellsep -0.0386\tabcellsep 1.0000\tabcellsep \\
Itech\tabcellsep 0.0138\tabcellsep -0.0102\tabcellsep 0.0846\tabcellsep 0.01150\tabcellsep 0.0113\tabcellsep 1.0000\end{longtable} \par
 
\caption{\label{tab_3}Table 4 . 2 :}\end{figure}
 			\footnote{© 2019 Global Journals} 		 		\backmatter  			  				\begin{bibitemlist}{1}
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