We’re ready to partner ACAMB for more robust, customer-centric financial services industry – New CIBN President

Newly sworn in President of the Chartered Institute of Bankers of Nigeria (CIBN), Prof. Pius Olanrewaju Adedeji has pledged the Institute’s readiness to partner with Association of Corporate Affairs Managers of Banks (ACAMB) to entrench a more robust, trustworthy and customer-centric banking and financial services industry in the country.

Olarenwaju gave the assurance on Thursday while delivering his goodwill message at the third National Stakeholders’ Conference of ACAMB held at Bankers House, Victoria Island, Lagos. The Conference was themed Building Bridges: Collaborative Solutions for a Trusted Banking and Financial Services Experience.

NewsClick Nigeria reports that Olanrewaju took over mantle of leadership of the Institute as 23rd President on Friday, May 17 from his predecessor, Ken Opara.

Highlighting the focal roles of Marketing and Communication Professionals in the banking and financial services industry, the new CIBN President noted that being the first point of contact with potential customers, Marcom professionals communicate banks’ values and drive its perception and long-term reputation.

‘Marketing and Communication Professionals play indispensable role in the success of the banking industry. As the first point of contact with potential customers, you communicate a bank’s values and drive its perception and long-term reputation. Banks, in their bid to position themselves as future-ready players, often align their brand with long-term strategies. These strategies are, in part, implemented by the dedicated professionals seated in this room today.

‘Furthermore, throughout history, collaboration has been lauded as a clear gateway towards success. As the great American industrialist and magnate Henry Ford once said, “Coming together is a beginning, staying together is progress, and working together is success.” This speaks to the heart of our gathering here today. Similarly, the great American author, Helen Keller, emphasized the power of unity when she said, “Alone we can do so little; together we can do so much”,’ Olanrewaju said.

Pledging the Institute’s open door for collaboration with ACAMB and other bodies within the banking and financial services sector, the CIBN boss said: ‘Ultimately, it is important to understand that our industry thrives on trust. It is the invisible force that drives customer loyalty, investor confidence, and the overall stability of our financial system.
However, trust is not a given; it is earned through consistent, transparent, and ethical practices. A strong handshake between the bankers and the communications and marketing professionals will go a long way in building this trust while at the same time offering top-notch banking services.

Looking beyond 2024, collaboration is not just a buzzword, it is a strategic imperative. By working together, we can create synergies that ultimately lead to improved customer experiences. The
Chartered Institute of Bankers of Nigeria is open to collaborations with you by way of capacity building, sensitization and advocacy programmes that would enlighten and draw attention to the importance of our joint purpose.’

Earlier, ACAMB President, Rasheed Bolarinwa in his welcome address assured that the Association remained undaunted in its mission to foster transparency, prioritize consumer welfare, and champion industry excellence. He said the Conference was borne out of determination to fulfill this mission.

‘In a world where the financial landscape is continually evolving, our mission in ACAMB and the larger banking and financial sector remains clear: to foster transparency, prioritize consumer welfare, and champion industry excellence. This conference serves as a critical forum to address and resolve key consumer issues, providing a holistic understanding of Nigeria’s banking and financial services landscape. We acknowledge the symbiotic relationships that exist among the Central Bank of Nigeria (CBN), Deposit Money Banks (DMBs), other 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).

‘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, ACAMB strives to build mutual understanding and trust.

‘Furthermore, we seek to reinforce the reputation of our industry and as representatives of the banking and financial services sector, ACAMB is dedicated to cultivating positive perceptions within Nigeria, sub-Saharan Africa, and beyond. Ensuring regulatory compliance is another cornerstone of our mission. We are here to deepen stakeholders’ understanding of existing and evolving CBN regulations, promoting a compliant and trustworthy environment.

‘Innovation is also at the heart of our agenda. We must explore opportunities for progressive solutions that enhance customer satisfaction and inspire Banks and other financial institutions to adopt forward-thinking approaches.’

Bolarinwa further assured that ACAMB and statutory consumer protection agencies in the country will continue to address consumer concerns to further strengthen the nation’s banking and financial services sector.

‘As we move 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 conference aims to bridge the past, present, and future, fostering collaborative relationships, transparency, and innovation. It is a testament to our collective responsibility to address consumer concerns and cultivate an inclusive, resilient, and consumer-centric banking and financial services landscape in Nigeria.’