Lagos: The Association of Corporate and Marketing Professionals in Banks (ACAMB) has debunked claims of bank shutdowns under the Central Bank of Nigeria’s recapitalisation policy, stressing that international banks are already meeting the ₦500 billion capital requirement.
The association engaged a content creator to promote accurate public understanding of developments within the banking sector.
In a statement on Friday, ACAMB President Jide Sipe said the step aimed to foster informed discourse and safeguard confidence in the financial system.
He explained that the intervention followed a misleading video by a content creator, ‘Unofficial Osas’, alleging some banks were shut over the recapitalisation exercise.
He also noted that the development prompted the Nigerian Police Force to invite the content creator.
According to him, ACAMB’s engagement led to the retraction of the video and a public apology, reaffirming its commitment to public enlightenment.
In the apology video, ‘Unofficial Osas’ clarified that no bank had been shut down due to the recapitalisation policy.
“I would like to offer an official retraction of that video and reiterate that no bank is shutting down.
“Most banks have met the N500 billion minimum capital for international banks and N200 billion for national banks,” he said.
The content creator commended ACAMB for its professional handling of the matter and for providing clarity on the recapitalisation process.
Sipe reaffirmed the association’s commitment to professionalism, ethical standards and public confidence in the banking industry.
“ACAMB stands for the restoration of professional banking ethics and public confidence through seamless information management and public enlightenment.
“We believe an informed public is an empowered public. By engaging the content creator, accurate information reached millions of Nigerians,” he said.
Sipe noted that the intervention underscored ACAMB’s resolve to sustain the banking sector’s positive image and encourage responsible information sharing.
He reiterated ACAMB’s commitment to evolving strategies that enhance trust in the financial system and promote a better banking culture among Nigerians.
