Connect with us

business

ACAMB Commends Nigerian Banks for Near-Complete Recapitalisation Compliance

Published

on

ACAMB

Nigerian banks recapitalisation compliance exceeds 96% as ACAMB praises resilience, CBN oversight, and sector strength ahead of deadline

The Association of Corporate Affairs Managers of Banks (ACAMB) has commended the Nigerian banking industry for its strong performance and resilience following widespread compliance with the March 31 recapitalisation deadline set by the Central Bank of Nigeria.

Advertisement

Also read: Nigerian Banks Surge Positive to N20trn Market Value

ACAMB described the outcome as a reflection of disciplined execution across the sector, noting that over 96 percent compliance was achieved ahead of the deadline.

The association also praised the regulatory oversight of the Central Bank of Nigeria (CBN), crediting its leadership for guiding the industry through the recapitalisation process.

The recapitalisation exercise stems from a March 2024 directive by the CBN, which reviewed minimum capital requirements for commercial, merchant and non-interest banks.

Advertisement

Under the framework, commercial banks with international authorisation were required to raise capital to N500 billion, while national and regional banks were required to meet N200 billion and N50 billion respectively.

Merchant banks, as well as non-interest banks, were also assigned revised capital thresholds depending on their licences.

According to CBN Governor Olayemi Cardoso, 32 banks had already met the new capital requirements ahead of the deadline.

Advertisement

He noted that the recapitalisation programme has strengthened the capacity of the financial system and positioned it to support long-term investment and broader economic ambitions.

ACAMB President Jide Sipe described the development as a significant milestone, stressing that the high level of compliance demonstrates the stability and adaptability of Nigerian financial institutions.

He said the achievement reflects the sector’s commitment to supporting economic growth while reinforcing confidence in the banking system.

Advertisement

Sipe also commended the Central Bank of Nigeria for what he described as visionary leadership under Governor Cardoso, adding that the reforms are helping to reshape the financial landscape in a meaningful way.

The ACAMB president further highlighted international recognition of the CBN, referencing its recent “Central Bank of the Year 2026” award by the London-based Central Banking Awards Committee, describing it as a notable endorsement of Nigeria’s regulatory progress on the global stage.

He urged continued collaboration between regulators and financial institutions to ensure that the stability of the banking system is maintained and that no institution is left behind in the ongoing transformation.

Advertisement

ACAMB reaffirmed its commitment to supporting policies that promote transparency, stability and sustainable growth within the banking sector, noting that effective communication and stakeholder engagement remain key to sustaining public trust.

Also read: Banks Increase Trade Credit to N36.39tn in 2025

The association, which represents corporate communications and marketing professionals in the banking industry, continues to play a role in shaping public understanding of financial policies while supporting reputation management across the sector.

Advertisement
Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

business

Beyond CSR: Why Telecom Firms Are Taking Their Social Investment Into Everyday Life

Published

on

Nigeria’s telecommunications companies are increasingly moving their social investments beyond conventional donations, scholarships and community projects into areas where connectivity, digital skills and technology directly affect how Nigerians learn, work and access essential services.

The shift is evident across education, healthcare, digital inclusion and economic empowerment, with operators and their foundations increasingly deploying assets linked to their core business — networks, data, digital platforms, devices and technical expertise — to address social needs.

Advertisement

The development is also reflected in the changing approach of regulators and public-sector stakeholders, who increasingly see telecommunications infrastructure as an enabler of outcomes in other sectors rather than an end in itself.

The Nigerian Communications Commission (NCC), for instance, recently launched a zero-rated educational access initiative under which eligible users will receive up to 100MB of free data daily to access approved educational platforms.

The commission said the initiative is intended to expand access to learning resources, reduce educational inequalities and support long-term economic growth through human-capital development.

Advertisement

NCC Executive Vice Chairman, Dr Aminu Maida, said connectivity was essential if Nigerians were to benefit fully from digital skills and education programmes.

He also acknowledged the need to make the intervention sustainable, saying the 100MB daily ceiling was designed partly to allow government and industry to assess usage patterns before adjustments are made. The allowance is subject to periodic review.

The initiative illustrates the changing nature of telecom social investment: rather than simply providing a physical asset, operators are using their networks to remove a barrier to access.

Advertisement

The model is not entirely new.

The Nigeria Learning Passport, launched by the Federal Government and UNICEF in 2022, has developed into a wider public-private digital education ecosystem.

UNICEF reported that the platform had expanded across 21 states and reached 1.8 million users by January 2025. At that time, Airtel was providing zero-rated access that allowed more than 600,000 students to use the platform without data charges.

Advertisement

But connectivity was only one component. UNICEF said Microsoft provided technology infrastructure, IHS supported connectivity in 870 schools, while other partners contributed devices, offline infrastructure, teacher capacity building and learning-content development.

This broader ecosystem is increasingly shaping how telecom companies approach social investment.

MTN Foundation, for example, says it has invested more than N34.4 billion since its establishment in 2004, with projects across all 36 states and the Federal Capital Territory.

Advertisement

The foundation says its interventions are concentrated on capacity building, health and economic empowerment, while its youth development portfolio provides skills, tools, knowledge and opportunities for young people to become economically active.

Its SAIL Teachers Fellowship is an example of the movement towards building capacity rather than simply providing materials. The programme has trained more than 8,700 teachers across the country, focusing on technology integration and inquiry-based learning.

MTN has also extended its social investment into healthcare through technology.

Advertisement

On September 23, MTN Group Foundation and the Gates Foundation announced the Nigeria Maternal Health Multiplier, a digital health initiative that aims by 2030 to help 500,000 women access trusted maternal-health guidance, equip 5,000 frontline health workers with digital tools and support 500 health facilities.

The programme has an initial investment of approximately $25 million between 2026 and 2030, including direct and in-kind contributions from the two foundations.

The initiative combines MTN’s connectivity infrastructure and digital capabilities with the Gates Foundation’s expertise in maternal health, digital health and responsible artificial intelligence.

Advertisement

For MTN, the intervention reflects an approach in which connectivity becomes part of the solution to a problem outside telecommunications.

The Gates Foundation’s CEO, Mark Suzman, also offered an insight into the thinking behind the partnership, describing philanthropy as a catalyst for investment rather than a substitute for it.

Other operators are following different versions of the same broader direction.

Advertisement

Airtel’s digital-skills initiatives have included programmes aimed at improving the employability and economic opportunities of young Nigerians, while its partnership with UNICEF on the Learning Passport has used zero-rated connectivity to remove data costs from access to educational content.

The company has also historically operated more conventional social interventions, including its Touching Lives programme, which provided direct support to disadvantaged individuals and communities.

The contrast between such programmes and newer interventions illustrates the evolution rather than disappearance of conventional philanthropy.

Advertisement

Similarly, Globacom has used its network capabilities in a community-development model.

In partnership with the Federal Ministry of Communications, Innovation and Digital Economy and Huawei, the company supported a Digital Village pilot at Isuanin Kura, Ibwa 2, in Gwagwalada, Abuja.

The project provides public Wi-Fi, mobile coverage and facilities intended to support remote learning and digital healthcare. Glo supplied microwave backhaul and access to its core network resources and manages the site’s operations.

Advertisement

The project was designed to serve more than 12,000 residents. That figure represents the project’s intended service population, not a verified number of people already reached.

The wider policy environment is also changing.

The NCC has increasingly framed digital inclusion as a collaborative responsibility involving government, operators, infrastructure providers, development organisations and other stakeholders.

Advertisement

That approach is particularly relevant as the boundaries between telecommunications and other parts of the economy become less distinct.

Education increasingly depends on connectivity. Healthcare is adopting digital tools. Small businesses rely on mobile payments and online platforms. Young people increasingly require digital skills to participate in the labour market.

Against that background, telecom philanthropy is gradually moving closer to the everyday realities of citizens.

Advertisement

The shift does not mean that telecom companies are replacing government or development agencies in providing social services. Rather, their contribution is increasingly based on what they can uniquely provide — connectivity, platforms, data, technology, devices, technical expertise and access to millions of users.

MTN’s 2026 Y’ello Care campaign, for instance, focused on equitable health, with the company describing employee-led community action as extending from healthcare to education, youth development and economic empowerment.

The emerging model is therefore less about simply giving communities something and more about connecting people to opportunities and services.

Advertisement

For Nigeria, where affordability and access remain major barriers to digital participation, that change could make telecom social investment increasingly relevant to everyday life — from a student accessing a lesson without paying for data to a pregnant woman receiving health information, a teacher acquiring digital skills or a young person gaining the tools needed to enter the digital economy.

The challenge, however, will be demonstrating that these interventions produce measurable and sustained outcomes beyond the announcement of a new programme.

As telecom operators increasingly deploy their core capabilities for social purposes, the measure of their contribution may ultimately shift from how much they donate to how many people can use the infrastructure, knowledge and services created through that investment.

Advertisement

Continue Reading

Trending