ACAMB engage stakeholders, ensuring balanced and factual representation as the capitalization progresses.

By JUMOKE OWOOLA

In order to  build a mutual understanding and trust in the banking and financial services sector,  ACAMB  has openly pledged its support in seeking  to reinforce the reputation of the industry and as representatives of the banking and financial services sector; and also dedicated to cultivating positive perceptions within Nigeria, sub Sahara Africa and beyond.

The President of the Association of Corporate Affairs Managers of Banks  (ACAMB), Mr. Rasheed Bolarinwa stressed  this at the 3rd  ACAMB Stakeholders Conference 2024 held in Lagos on Thursday with the theme ‘Building Bridges: Collaborative Solutions for a Trusted Banking and Financial Services Experience’

In his words , "We commend the CBN for the thoughtfulness it has put into the announced modality for the capitalisation. ACAMB particularly notes the distinctive definition of the new minimum capital base for each category of banks as the addition of share capital and share premium, as opposed to the previous use of shareholders’ funds.

“We urge the public to take note of this change. As it stands, banks are on the same page, and as such, there is no need whatsoever for any fear, as the banks have the capacity to meet the recapitalisation in line with allowable options stipulated by the apex bank.

" This conference served as a forum to address and resolve key consumer issues while providing a holistic understanding of Nigeria’s banking and financial services landscape.

“We acknowledge the symbiotic relationships that exist among the Central Bank of Nigeria, Deposit Money Banks other financial institutions and regulators, and vital players in the Insurance and Pension industry, including NAICOM and PENCOM, as well as consumer protection agencies and the Nigeria Inter-Bank Settlement System.

Going further , Bolarinwa who was elated at the massive turnout , enthused further that the  conference aims to bridge the past, present, and future, fostering collaborative relationships, transparency, and innovation. 

"It is a testament to our collective responsibility to address consumer concerns and cultivate an inclusive, resilient, and consumer-centric banking and financial services landscape in Nigeria.

“All facts point to a win-win for the Nigerian banks, the financial market, and the economy under this recapitalisation,”  Bolarinwa said.

“The banking industry will continue to work with financial authorities to build up the economy. This recapitalization will put Nigerian banks in better stead to support the strengthening of the economy, the expansion of the real sector, and the building of bigger banking brands that can compete continentally and globally,“ the ACAMB President stated.

In his own remarks, the newly inaugurated President of Shattered  Institute of Bankers Nigeria ,( CIBN), Prof.  Pius Olanrewaju, promised to work with the ACAMB to improve the experience of bank customers.

He also highlighted how collaboration between the two groups can further encourage  the banking industry, saying, “Building brand loyalty: marketing and communications professionals are often the first point of contact with the bank and contribute immensely towards building brand loyalty. Positive engagements can result in customers sticking with the same bank over many years while negative or below-par communication standards could drive them away"  Olanrewaju enthused .

Coincidentally, this particular ACAMB event  was his official outing since he assumed office .

The Association of Corporate Affairs Managers of Banks (ACAMB), was founded in 1996 to combat the negative perception of the banking industry, restore ethics and public confidence in the sector.