The Association of Corporate and Marketing Professionals in Banks (ACAMB) has stepped in to counter misinformation surrounding the Central Bank of Nigeria’s (CBN) recapitalisation policy, reaffirming that no Nigerian bank has been shut down as a result of the exercise.
In a statement, ACAMB President, Jide Sipe, said the association intervened after a viral video by a content creator alleged that some banks were being closed due to the recapitalisation directive.
According to Sipe, the misleading narrative risked undermining public confidence in the financial system at a critical reform juncture.
ACAMB engaged the content creator directly, leading to a public retraction and apology. In the follow-up video, the content creator clarified that no bank had been shut over recapitalisation and acknowledged that most banks had already met the revised capital thresholds — ₦500 billion for international banks and ₦200 billion for national banks.
Sipe noted that the intervention was aimed at fostering informed discourse and safeguarding systemic confidence.
“ACAMB stands for the restoration of professional banking ethics and public confidence through seamless information management and public enlightenment,” he said, emphasising that responsible communication is essential during periods of structural reform.
The episode, which reportedly also drew the attention of law enforcement authorities, underscores the sensitivity of banking-sector information and the potential market impact of viral digital content.
Why the Clarification Matters
Bank recapitalisation is not merely a regulatory technicality. It is a strategic reform designed to:
- Strengthen balance sheets
- Improve risk absorption capacity
- Enhance resilience to macroeconomic shocks
- Support credit expansion to the real sector
In fragile information environments, misinformation about bank closures can trigger unnecessary deposit flight, market volatility and reputational damage.
By moving quickly to correct the narrative, ACAMB sought to stabilise sentiment and reinforce confidence in ongoing reforms.
BRANDECONOMY Insight
The episode highlights a new frontier in financial stability: information risk.
In today’s digital ecosystem, market perception can shift faster than policy implementation. A single viral claim — even if inaccurate — can create liquidity pressure and reputational stress in a highly sensitive sector like banking.
The CBN’s recapitalisation programme is fundamentally about strengthening systemic buffers. But public confidence is itself a capital asset.
ACAMB’s response signals an evolving recognition within the industry that narrative management is now part of financial risk management.
As Nigeria’s banking system scales toward higher capital thresholds, sustained transparency, clear regulatory communication and disciplined information stewardship will be critical to maintaining stability.
In an era where digital virality can outpace institutional communication, the guardianship of trust is no longer optional — it is systemic.
