The Association of Corporate & Marketing Communication Professionals of Banks (ACAMB) has advised customers and shareholders not to panic, assuring them of the association’s support for recapitalisation of the banking sector. In a statement signed by Rasheed Bolarinwa, president of ACAMB, the Association welcomes the release of the much-anticipated circular of the Central Bank of Nigeria (CBN) on the banking sector recapitalisation. It should be recalled that at the first announcement of the planned recapitalisation by the CBN Governor, Olayemi Cardoso, ACAMB, as a key player in Nigeria’s banking sector, had, alongside other critical stakeholders, affirmed support for the recapitalisation. This support underlines ACAMB’s belief that while Nigerian banks are globally regarded as safe, resilient and thriving; there is always room for growth. As Nigeria seeks to aggressively unlock its innate potential to become a global emerging economy, banks must also stand ready to play their crucial roles of financial intermediation. The CBN circular on review of minimum capital requirement for commercial, merchant and non-interest banks over the next 24 months has laid to rest any anxiety about the intention, process and possible outcome of the new recapitalisation exercise. The Association of Corporate & Marketing Communication Professionals of Banks (ACAMB) has advised customers and shareholders not to panic, assuring them of the association’s support for recapitalisation of the banking sector. In a statement signed by Rasheed Bolarinwa, president of ACAMB, the Association welcomes the release of the much-anticipated circular of the Central Bank of Nigeria (CBN) on the banking sector recapitalisation. It should be recalled that at the first announcement of the planned recapitalisation by the CBN Governor, Olayemi Cardoso, ACAMB, as a key player in Nigeria’s banking sector, had, alongside other critical stakeholders, affirmed support for the recapitalisation. This support underlines ACAMB’s belief that while Nigerian banks are globally regarded as safe, resilient and thriving; there is always room for growth. As Nigeria seeks to aggressively unlock its innate potential to become a global emerging economy, banks must also stand ready to play their crucial roles of financial intermediation. The CBN circular on review of minimum capital requirement for commercial, merchant and non-interest banks over the next 24 months has laid to rest any anxiety about the intention, process and possible outcome of the new recapitalisation exercise.
No need to panic, banks assure on recapitalisation
