ACAMB 2024 STAKEHOLDERS CONFERENCE: Improving Nigeria’s Banking And Financial Services Landscape

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Nigeria Blossom
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BlossomNigeria commends the Association, Corporate Affairs Managers of Banks (ACAMB), for putting together a worthwhile Conference geared towards improving the financial sector in the nation. The event which held at the CIBN House on May 30, 2024, brought together like minds in the financial system, with the common purpose of working on more collaborative efforts, to give the system the needed stability amidst the global financial fluctuations.

The Welcome Address by ACAMB President, Rasheed Bolarinwa at the 3rd ACAMB Stakeholders Conference, Lagos, noted that the gathering was a pivotal moment for the banking and financial services sector in Nigeria. Bolarinwa said “This is as we come together, for the first time to holistically discuss under one roof, customer experience issues as they affect accessing banking and financial products and services in Nigeria, under the theme: Building Bridges: Collaborative Solutions for a Trusted Banking and Financial Services Experience.”

He said in a world where the financial landscape is continually evolving, the mission of ACAMB and the larger banking and financial sector remains clear: to foster transparency, prioritise consumer welfare, and champion industry excellence. The conference according to him served as a critical forum to address and resolve key consumer issues, providing a holistic understanding of Nigeria’s banking and financial services landscape.

ACAMB acknowledged the symbiotic relationships that exist among the Central Bank of Nigeria (CBN), Deposit Money Banks (DMBs), financial institutions and regulators, and vital players in the Insurance and Pension industry, including NAICOM and PENCOM, as well as consumer protection agencies and the Nigeria Inter-Bank Settlement System (NIBSS).

In his words, “Our objectives today are ambitious yet essential. We aim to educate consumers and foster their ability to make well-informed decisions about banking and financial services, by creating a platform for open and constructive dialogue among consumers, regulatory bodies, the media, and financial institutions”. Furthermore, ACAMB according to him is dedicated to cultivating positive perceptions within Nigeria, sub-Saharan Africa, and beyond.

Still in the quest to ensure regulatory compliance, which is part of the mission, he stated that the body is still working to deepen stakeholders’ understanding of existing and evolving CBN regulations, promoting a compliant and trustworthy environment.

In his statement, he added that “You would all agree with us in ACAMB that Nigeria’s banking and financial services sector, which is marked by resilience, adaptability, and innovation, stands as a beacon of stability amid economic fluctuations. The regulatory framework established by the CBN ensures the sector’s integrity, while collaboration with DMBs and auxiliary institutions like NAICOM, PENCOM, and NIBSS, underscores the interconnectedness necessary for a robust ecosystem”.

He added that as the sector moves forward, consumer protection agencies will continue to play a crucial role in safeguarding public interests, ensuring fair practices, and nurturing a culture of transparency. This he noted will be achieved with the conference, which worked on bridging the past, present, and future, fostering collaborative relationships, transparency, and innovation. The 3rd ACAMB Stakeholders Conference 2024, was indeed a testament to collective responsibility, to address consumer concerns and cultivate an inclusive, resilient, and consumer-centric banking and financial services landscape in Nigeria.

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Nigeria Blossom
http://blossomnigeria.com
Blossom Chukwu is a dynamic leader, public speaker, prolific writer and publisher. With over fifteen years of experience in the media industry, she has worked in different capacities: a reporter for ThisDay Newspaper, a correspondent for National Standard Magazine and several other media projects. She has also served as a broadcast media practitioner with years of experience as a television producer, researcher, scriptwriter, and editor in Loveworld Plus Satellite TV Station where she rose to Head of News. She has proven to be an asset in news programming and documentary productions. She graduated with a Second Upper-class honour in English and Literature from the University of Benin as the best graduating student in her set 2001/2002 session. She holds a Master’s Degree in Diplomacy and Strategic Studies (MDSS) from the University of Lagos. She runs her pet project tagged, BlossomNigeria Initiative, which is to inspire Nigerians in the direction of nation-building and national development. Through her website, www.blossomnigeria.com, she publishes the impact of individuals, organisations, political office holders, traditional rulers and government agencies on society and the nation at large. Contact: Phone: 08030887339, 08024789646 Email: chukwublossom@gmail.com, www.blossomnigeria.com

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