CBN partners ACAMB on ‘cashless’ initiative



October 21, 2011



Press Release - The Central Bank of Nigeria (CBN) has expressed its readiness to work with the Association of Corporate Affairs Managers of Banks (ACAMB) towards educating the Nigerian public on the soon-to-commence cashless society initiative.


Speaking during a forum organized by both bodies to discuss issues bordering on the implementation of the initiative in Lagos recently, CBN’s Deputy Governor (Operations), Mr. TundeLemo, stressed the need for a comprehensive information management approach aimed at explaining the objectives and benefits of the initiative to all stakeholders. He pointed out that the success or failure of any initiative, no matter how well meaning, is largely dependent on the buy-in of the ultimate beneficiaries of the initiative. This, he said, can only be made possible by effective communication.


He expressed the delight of the regulator at the opportunity to engage with the cream of professionals saddled with the responsibility for information management in the industry, and suggested that the forum be organized quarterly to review progress on current initiatives and draw up plans for forthcoming ones.


Earlier in his address, ACAMB President, Mr. Babatunde Shofowora, explained that the association was committed to partnering with the CBN and other regulatory bodies to ensure that matters affecting the industry and the Nigerian banking public, such as the cashless society initiative, were effectively communicated. He explained that the association initiated the forum on the cashless society initiative in view of its far-reaching implications for the public, pointing out that a meeting of minds by the two bodies was crucial for effective information dissemination regarding the initiative.


Mr. Shofowora further stated that the association was firmly committed to delivering on its core objective of being the collective voice of operators in the industry in all matters relating to public enlightenment and reputation management. He announced the launch of a “One Bank, One Voice” initiative by the association to enable industry operators speak with one authoritative public voice on all policy initiatives that affect the Nigerian banking public.


Also present at the forum was CBN’s head of Shared Services, Tope St. Mathew Daniels, as well as ACAMB executive committee members and heads of Marketing and Corporate Communications departments of most of Nigeria’s Deposit Money Banks (DMBs).



Notes on ACAMB

The Association of Corporate Affairs Managers of Banks (ACAMB) was established in 1996. It is the umbrella body for reputation managers and public relations professionals in the Nigerian banking industry.



Media enquiries:
Babatunde Shofowora (President), 08022234035.
Ogechukwu Udeagha (Publicity Secretary), 08084362447


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