Mr Olufemi Awoyemi, CEO, Founder & Chairman of Proshare Nigeria has
Advised new media owners to reform their business model to ensure sustainability. Also, corporate affairs managers must reform and aggregate their leverage to deliver on their reputational risk management mandate.
Awoyemi in a presentation at a media parley organized by the Association of Corporate Affairs Managers of Banks (ACAMB) held at the Chartered Institute of Bankers of Nigeria (CIBN) auditorium in Lagos at the weekend noted that journalists play a pivotal role in sensitizing and shaping public opinion on banking policies, and economic developments.
Speaking on the theme “Reporting the Nigerian Financial Sector in a Dynamic World: What Role for the Journalist?”, Awoyemi stated that journalists must realize that it’s a new world and therefore should retool, reskill, and retrain to broaden their understanding, impact and value.
According to him, a journalist’s mind may naturally be sceptical, but that does not mean it should be biased towards bad outcomes. “If the balance of facts suggests that the result of a policy or event is positive, so be it; the journalist is not a hangman but an observer and writer. He or she provides society with a dynamic ‘journal’ of unfolding events,” he said.
Awoyemi emphasized that the role of a financial journalist in a rapidly changing world is to; gather information and gain understanding; develop context and perspective; apply analytical /numerical tools as interpretative aides; engage constructively with stakeholders; and provide unbiased fact-based narratives.
“It is an avenue for thorough discussions, establishment of guidelines and the need for a thorough review of policies and processes.”
He further stated that out of all the sectors in the economy, the Nigerian financial service sector is the best example of progress in Nigeria. A leader in innovation, one that has invested most on research, strategic planning and testing new ideas.“The Nigerian banking sector is a recognised global leader for its innovation, high level performance, apex infrastructure system and the best in terms of settlement system”, he said.
He enjoined the Journalists that every of their reports should help move the banking system forward and not bring it down. “This is not about telling you what to do or not, but that a balance must be achieved”, he said.
ACAMB President, Rasheed Bolarinwa stated that one of the greatest challenges faced as brand custodians working with Deposit Money Banks (DMBs) in Nigeria was the threat posed by adversarial Bloggers and few media outlets who deliberately go after brands with adverse news that portrays brands in negative light.
The rise of online and social media continues to escalate the spread of negative stories and magnifies customer complaints, further driving
negative sentiments about brands. This disturbing trend has been further affirmed by KPMG Customer Satisfaction Survey of 2021, he said.
He stated that ACAMB has considered it necessary to facilitate this interactive session with Journalists to deepen their knowledge of the implications of negative reporting, for all parties, including the media industry.
Part of the fallout of the event was the media community committing to working with ACAMB in ensuring healthy working relationship, healthy reporting and promoting a mutually beneficial working relationship with ACAMB and all banks. This heralds the beginning of further engagements in the future between ACAMB and the media community, a time has come where ACAMB and the media community are having a handshake indicating that ACAMB views the media as friends and not enemies.
For further inquiries, kindly contact ACAMB Secretariat via
phone on 08030464158 / 09166011488, or
send a mail to; [email protected]
About the Association of Corporate Affairs Managers of Banks, ACAMB
The Association of Corporate Affairs Managers of Banks (ACAMB), is the umbrella body of all Corporate and Marketing Communications Professionals working in the Nigerian Banks. It is a non-profit association committed to promoting excellence in image making, financial, business, aspects of Banks. ACAMB came into existence in 1996 (27years ago) as the brain child of the Banks Chief Executive Officers (CEOs) with the aim of combating the then negative perception in the banking industry.
Since its inception in 1996, the association has been able to to foster interaction among Corporate Communications/Public Relations Managers within the banking sub-sector of Nigeria’s financial sector. The Association advises the leadership of the sub-sector on the reputational implications of policies and, implements reputation enhancing programmes on behalf of the industry.
For media inquiries, please contact:
Fadekemi Ajakaiye.
ACAMB Secretariat
[email protected]
+234 8030464158
Note to editors: High-resolution photographs and speaker profiles are available upon request.
