ACAMB dispels rumours of bank closures in Nigeria
The Association of Corporate Communication and Marketing Professionals in Banks (ACAMB) has reassured Nigerians that the banking sector remains stable and secure. In a statement released on June 2, 2024, the group addressed viral social media claims suggesting multiple banks could face closure due to recapitalisation. ACAMB emphasized that these reports are false and that no Nigerian bank is at risk of shutting down. The association urged the public to continue banking with confidence.
What we know
- ACAMB refuted claims that 12 banks will be closed by the Central Bank of Nigeria by March 2026.
- The association clarified that the ongoing recapitalisation is a proactive policy to strengthen the sector and support the Federal Government’s economic goals.
- All banks have submitted recapitalisation plans to the CBN in 2024, with more than a third already meeting their targets.
- Major banks like FirstBank, UBA, Fidelity Bank, and FCMB have surpassed required capital thresholds.
- ACAMB condemned the spread of misinformation and warned that false content could attract legal consequences.
