ACAMB Educates Content Creator to Curb Misinformation on Bank Recapitalization

In a bid to foster accurate public discourse as well as protect the stability of the financial sector, the Association of Corporate and Marketing Professionals in Banks (ACAMB) has stepped in to educate renowned content creator, Unofficial Osas, following his misrepresentation of facts concerning the Central Bank of Nigeria’s (CBN) recapitalization drive, and subsequent invitation by the Nigerian Police Force.

The intervention by ACAMB led to the successful retraction of a misleading video regarding the CBN recapitalisation policy, demonstrating the Association’s commitment to its core mandate of public enlightenment.

In his official apology video, the content creator stated, “I was invited by the Nigerian police force national cyber crime centre in Abuja over the video I posted on the 15th of December, where i spoke about 12 banks that were shut down in relation to the CBN recapitalization policy. I would like to offer an official retraction of that video and want to reiterate that no bank is shutting down. As a matter of fact, most of the banks have now met the ₦500 billion minimum capital base for banks with international and the N200bn for national banks recapitalisation requirements, so no bank is shutting down. I want to specifically appreciate ACAMB. They were very professional in handling this case and did well to educate and enlighten me on the recapitalisation process. I am now better informed and know better”

Commenting on the resolution, President of ACAMB, Jide Sipe, reinforced the Association’s dedication to protecting the integrity of the banking sector.

“ACAMB stands for the restoration of professional banking ethics and public confidence through seamless information management and public enlightenment. We believe that an informed public is an empowered public. By engaging Unofficial Osas, we ensured that accurate information regarding the resilience and strength of our banks was disseminated to the millions of Nigerians who follow him.”

The Intervention shows ACAMB is dedicated to evolving strategies that enhance and sustain a good image for the nation’s banking sector as well as assist in fostering better banking habits among Nigerians.