The Industry Practitioners’ Ethics Challenge (IPEC) is an annual competition designed to strengthen ethical decision-making and promote professional integrity within the investment and financial services industry. Participants work collaboratively to analyse complex ethical dilemmas, apply the CFA Institute Code of Ethics and Standards of Professional Conduct, and defend their recommendations before a panel of experienced industry professionals.
The 2026 edition (7th) was hosted by CFA Society Nigeria in collaboration with CFA Society Ghana and CFA Society East Africa. The competition provides a practical platform for investment professionals to sharpen their ethical judgement, strengthen their analytical skills, and reinforce the importance of integrity and accountability in professional practice.
Competition Structure
Pre-Screening & Ethics Workshop
Participants complete an online pre-screening test, followed by a mandatory Ethics Workshop designed to strengthen their understanding of the CFA Institute Code of Ethics and Standards of Professional Conduct.
Team Collaboration
Participants work in teams to examine ethical dilemmas, exchange perspectives, and develop practical recommendations. The collaborative format encourages peer learning and exposes participants to diverse professional experiences across the region.
Case Studies & Presentations
Teams analyse case studies based on ethical dilemmas in the financial industry, identify potential violations, assess their implications, and recommend appropriate courses of action aligned with professional standards.
The competition progresses through semi-final and final rounds, where teams present their analysis and defend their recommendations during question-and-answer sessions before panels of experienced investment professionals.
Judging Criteria
Presentations are evaluated by experienced industry professionals who are CFA charterholders. Assessment criteria include:
-
Identification of ethical violations.
-
Relevance and practicality of proposed solutions.
-
Adequacy of recommended actions.
-
Clarity and persuasiveness of arguments.
-
Performance during the question-and-answer session.
-
Contribution and involvement of team members.
IPEC 2026 Highlights
The seventh edition of IPEC recorded strong participation across Nigeria, Ghana, and East Africa, reinforcing the importance of ethical competence within the investment profession.
-
493 applications were received across Nigeria, Ghana, and East Africa.
-
257 participants took the online pre-screening test.
-
12 teams competed in the semi-final stage.
-
Six finalist teams advanced to the final held virtually on 10 October 2026.
-
Team Alpha emerged as the 2026 Champion, with Team Africa as first runner-up and Team Integrity Circle as second runner-up.
-
The competition was proudly sponsored by the Securities and Exchange Commission (SEC) Nigeria.
Why Participate?
IPEC offers investment professionals an opportunity to:
-
Strengthen their understanding of ethical principles and professional standards.
-
Develop critical thinking, analytical, and presentation skills.
-
Apply ethical frameworks to complex, real-world professional situations.
-
Learn from peers and experienced industry practitioners.
-
Build professional connections across Nigeria, Ghana, and East Africa.
-
Demonstrate their commitment to integrity and ethical excellence.
Building a Stronger Ethical Culture
Through practical case studies, collaborative learning, and professional evaluation, IPEC reinforces the role of ethical judgement in building trust and confidence in the investment industry.
By bringing investment professionals together to examine challenging ethical situations, CFA Society Nigeria, in collaboration with CFA Society Ghana and CFA Society East Africa, continues to promote a culture of integrity, accountability, and professional excellence.
Interested in participating in a future edition of IPEC? Follow CFA Society Nigeria’s communications for announcements about upcoming editions and registration.