ACAMB’s Petition to IG: Blogger Retracts False Claim on Bank Recapitalisation, Apologises for Misinformation
The Association of Corporate and Marketing Professionals in Banks (ACAMB) has secured the retraction of a viral video containing false claims that 12 Nigerian banks will be shut down over the ongoing recapitalisation exercise of the Central Bank of Nigeria (CBN).
The development followed a formal petition by the then Rasheed Bolarinwa-led ACAMB to the Inspector-General of Police over what it described as a reckless and misleading publication capable of undermining public confidence in the banking system.
The content creator, widely known as “Unofficial Osas”, had alleged in a December 15 video that a dozen banks were being shut down by March 31st 2026 in connection with the CBN’s recapitalisation directive. The claim, which gained traction across social media platforms, sparked anxiety among bank customers and the investing public.
However, after subsequent invitation by the Nigerian Police Force National Cybercrime Centre in Abuja, on the instruction of the Inspector General of Police, and engagement with ACAMB, the blogger issued a public apology and full retraction.
In his apology video, https://www.instagram.com/reel/DU6XfVJjFRB/?igsh=MWw1cDB6M3RlMGU2dA== he clarified that no Nigerian bank had been or will be shut down and acknowledged that several banks had already met the new capital thresholds — ₦500 billion for international banks and ₦200 billion for national banks — as stipulated under the CBN’s recapitalisation framework. He further commended ACAMB for its professionalism in educating him on the policy and broader banking sector realities.
ACAMB’s current President, Jide Sipe, said the Association’s intervention was guided by its responsibility to safeguard public confidence and promote accurate financial reporting.
“ACAMB stands for the restoration of professional banking ethics and public confidence through seamless information management and public enlightenment. The Nigerian banking sector remains stable, resilient, and well-regulated. Misinformation, especially in sensitive sectors like banking, can trigger avoidable panic. We will continue to engage constructively while taking necessary steps to protect the integrity of our financial system,” he stated.
ACAMB had earlier reassured Nigerians of the stability and strength of the banking industry, noting that the recapitalisation programme is a proactive regulatory measure designed to position banks for greater capacity, global competitiveness, and long-term economic growth — not a signal of distress.
Industry analysts have consistently affirmed that Nigeria’s banking sector remains sound, with strong regulatory oversight and improving capital buffers across major institutions.
The Association reiterated its commitment to proactive stakeholder engagement, financial literacy advocacy, and swift response to misinformation capable of eroding public trust.
By securing the retraction and apology, ACAMB has once again demonstrated its readiness to defend the credibility of the banking industry while fostering a more informed and responsible digital information ecosystem.
