ACAMB educates content creator, secures retraction over bank recapitalisation claims

The Association of Corporate and Marketing Professionals in Banks (ACAMB) has engaged a popular content creator, Unofficial Osas, to address misinformation surrounding Nigeria’s bank recapitalisation policy, reinforcing efforts to promote accurate public discourse and safeguard confidence in the financial sector.

The move followed the creator’s misrepresentation of facts about the recapitalisation drive of the Central Bank of Nigeria (CBN), which led to his invitation by the Nigerian Police Force National Cybercrime Centre in Abuja.

ACAMB’s intervention resulted in the removal of a misleading video that claimed 12 banks had been shut down due to the recapitalisation exercise, highlighting the association’s commitment to public enlightenment and responsible information sharing.

In an apology video, Unofficial Osas explained that he had been invited by the police over a video posted on December 15 in which he suggested several banks were closing in connection with the CBN policy. He clarified that no banks were being shut down, noting that many institutions had already met the new capital thresholds — ₦500 billion for banks with international licences and ₦200 billion for national banks.

He also commended ACAMB for its role in clarifying the policy, saying the association handled the matter professionally and provided education that helped him better understand the recapitalisation process.

Speaking on the resolution, ACAMB President, Jide Sipe, said the association remains committed to strengthening public trust in the banking industry through effective communication and ethical professional standards.

He emphasised that ACAMB’s engagement ensured accurate information about the resilience of Nigerian banks reached the creator’s large audience, adding that an informed public is essential to maintaining confidence in the sector.

The association said the intervention reflects its broader strategy to protect the image of Nigeria’s banking industry while encouraging improved financial literacy and responsible banking habits among citizens.