ABSTRACT
The financial services sectors in developing countries are critical components of the economic growth of these economies due to their unique characteristics (Akindayomi, 2012). When they work well, the benefits are incalculable. According to Ogbo et al., “a sound financial system helps to mitigate risks, create confidence, attract savings and create opportunities for investment” (2013, p. 24). However, when they are corrupted, the ensuing disaster also has incalculable potential to destroy – persons, families, cities, whole nations; “corruption, which is the consequence . . . [of an] unethical banking system, can cost the poor three times more than the rich” (ibid.).
