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Naira crisis: ACAMB, Bank CSOs, Operations Heads harp on benefits of cashless policy

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The Association of Corporate Affairs Managers of Banks (ACAMB), Chief Security Officers in Banks (CSOs), and Committee of Heads of Operations of Banks (CHOBs) on Sunday, February 19, 2023 held an emergency meeting over fallout of implementation of the Central Bank of Nigeria’s monetary policy that led to attacks on bank staff and facilities in some states of the federation. 

There has been unrest and state of uncertainty nationwide over the CBN’s deadline on validity of the old N500 and N1000 notes as legal tender in the last couple of days. But both the Federal Government and apex bank have assured Nigerians that the challenges will ease out soon. 

Reiterating his administration’s support for the CBN’s policy, President Muhammadu Buhari on Sunday pleaded with Nigerians to exercise more patience to enjoy the eventual gains of cashless policy.

‘I am fully aware of the current hardship being faced as a result of some policies meant to bring overall improvement to the country. I’m appealing to you to exercise further patience as we take measures to ease these hardships. God willing, there is light at the end of the tunnel,’ the President tweeted on Sunday evening.  

In a communiqué issued at end of the Tripartite meeting, which held in Lagos and convened by The Chartered Institute of Bankers of Nigeria (CIBN), the three Associations assured the general public that the apex bank and Deposit Money Banks (DMBs) are doing everything possible to make Naira available whilst expressing hope of return to normalcy in the shortest possible time. The banks resolved to continuously engage customers on efforts being made to lessen the current hardship being experienced.

Pending when all the challenges will be resolved, the bank heads appealed to Nigerians, particularly the traders and merchants to embrace and adopt the cashless policy by accepting fund transfers from their customers. They noted that the random glitches associated with recent transfer options will also ease out in no distant time. 

To forestall further attacks, the bank heads appealed to Security Agencies to increase patrol and surveillance on bank locations especially those located in places prone to attacks. 

The traditional institutions, Community Development Association Heads, Leaders in various markets across Nigeria were also enjoined to educate their subjects and members on the immediate and long term benefits of cashless policy. 

Members of the public especially bank customers are also encouraged to leverage several available alternate channels provided by banks to consummate 99 percent of all their transactions and focus less on cash.

The three bodies re-emphasised that Deposit Money Banks (DMBs) neither hide nor hoard money they receive from the CBN, whilst assuring that Banks would make money received available to their customers Over the Counter (OTC) or through the Automated Teller Machines (ATMs).

See action points from the communiqué below: 

A strategic and consistent information should be made available to customers and the general public to keep them abreast of operations and use of alternate payment channels as we jointly work to improve situation.
Market women and traders at every market across Nigeria are encouraged not to reject transfer payment from their customers as doing otherwise runs counter to cashless policy.
Security Agencies are enjoined to increase surveillance, patrol and protection for bank workers, assets, and customers from undesirable elements attacking bank facilities.
Traditional Institutions, CDA Chairmen and market leaders are to assist in educating their subjects, residents and members at grassroots on the benefits of cashless policy while discouraging deviants and other elements within the community to maintain peace and order.
Customers are encouraged to make a habit of effecting 99% of all their transactions through available alternate channels provided by Banks including; Internet banking, mobile banking, USSD, Digital banking Apps, Merchants PoS QR Code, etc.
Banks are advised not to hoard the newly redesigned naira notes but rather make them available to customers.
Customers are encouraged to hold less of cash and transact more digitally.

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Pyrates March with Ogun State First Lady and Women Affairs Commissioner against Gender Violence

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The National Association of Seadogs’ Pyrates Confraternity, Abeokuta chapter, Ogun State, in collaboration with the Ministry of Women Affairs and Social Development, Ogun State, commemorated the World Human Rights Day 2024 with a rally from the center of Abeokuta the capital city of the state to the Governor’s office and ended the procession at the state house of Assembly.


The Association, known for its humanistic ideals and advocacy for justice and equity, marked Human Rights Day on December 10, 2024. The Ogun State Chapter of the National Association of Seadogs’ Pyrates Confraternity visited the Speaker and urged the assembly to expedite the passage of laws that promote peace, human rights, and an end to gender-based violence in Ogun State.

The Capoon of Ash Montana Deck, Peter Oluwatoyin Adekunle, commended the Commissioner for Women Affairs and Social Development, Hon. Motunrayo Adijat Adeleye, for establishing a rehabilitation center. This center provides support for survivors of sexual and gender-based violence and introduces a free toll line : 08000000666 and 08000000555 to report abuse and offenders.

Additionally, the Capoon highlighted various forms of gender-based violence, including threats and coercion. The First Lady, Mrs. Bamidele Abiodun, educated attendees IN THE UNFPA ACKNOWLEDGED PROGRAM on forms of gender-based violence, such as:

– Sexual assault
– Rape
– Attempted rape
– Trafficking
– Prostitution
– Sexual harassment
– Manipulation within the home, workplace, or school
– Domestic violence
– Controlling behavior in intimate relationships
– Battery
– Confinement
– Emotional abuse
– Pornography
– Harmful traditional practices
– Early/forced marriage
– Widow ceremonies
– Punishment for defying cultural norms
– Denial of education, food, and clothing to girls/women

The Speaker, Hon. Oludaisi Olusegun Elemide, pledged to uphold his promise to pass laws protecting human rights.

*The Pyrates Confraternity has a long history of advocating for human rights and social justice, dating back to its founding in 1952 by seven students at the University College, Ibadan, including the renowned Professor Wole Soyinka.*

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ZENITH BANK KICKS OFF YULETIDE SEASON WITH SPECTACULAR AJOSE ADEOGUN STREET LIGHT-UP

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In keeping with its acclaimed annual tradition, Zenith Bank once again set the stage for the Yuletide season with the Light-Up of Ajose Adeogun Street and Roundabout, Victoria Island, Lagos on Saturday, 23 November 2024. The Light-Up ceremony was performed by the Group Managing Director/Chief Executive of Zenith Bank Plc, Dame (Dr.) AdaoraUmeoji, OON.

The Light-Up ceremony is a Corporate Social Responsibility (CSR) initiative of Zenith Bank. Now in its 18th year, the beautiful Christmas decoration, which transforms the entire stretch of Ajose Adeogun Street (home to Zenith Bank’s Corporate Headquarters) and Roundabout into a breathtaking yuletide wonderland, has come to be recognized as an iconic tourist attraction, bringing visitors from far and wide who visit with their families and friends to take pictures and enjoy the ambience of the street.

Speaking during the ceremony, Dame (Dr.) AdaoraUmeoji said “Over the years, Zenith Bank has hosted this spectacular event, transforming the entire Ajose Adeogun Street into a breathtaking yuletide wonderland. Our beautiful and elaborate Christmas decorations have become a centre of attraction and shared on social media platforms globally. As we light up the street tonight, we celebrate the essence of Christmas and Zenith Bank’s unparalleled CSR. Our customers will always be at the centre of all that we do in Zenith Bank.” She urged everyone to imbibe the message and spirit of Christmas which is about love, kindness, generosity and respect for humanity, and thanked the Lagos State Government for creating an enabling environment for the initiative.

She also praised the efforts of Quantum Markets, who have been responsible for the annual decorations, for their expertise and creativity in putting together the lovely decorations. In her words, “I want to thank the management of Quantum Markets for all the beautiful, creative and innovative ideas they keep coming up with. Quantum Markets always make it bigger and better every year, and we are always looking forward toit.”

Zenith Bank remains committed to furthering the economic, cultural and social development of its host communities. The bank’s sustainability and CSR initiatives are hinged on the belief that today’s business performance is not all about the financial numbers – the bank believes that an institution’s social investments, contributions to inclusive economic growth and development as well as improvements in the condition of the physical environment, all constitute a balanced scorecard.

As a testament to its contributions and social investments in its host communities and the society at large, the bank was recognised as the “Most Sustainable Bank, Nigeria” in the 2023 and 2024 International Banker Banking Awards and “Most Responsible Organization in Africa” at the Sustainability, Enterprise, and Responsibility (SERAS) Awards 2021.

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Izuchukwu Christian Ahuchaogu Wins Media Personality of the Year at TM News Awards 2024

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Izuchukwu Christian Ahuchaogu, the dynamic publisher of Truetells Nigeria, has been awarded the prestigious title of Media Personality of the Year at the TM News Awards 2024. The ceremony, held at Lagos Oriental Hotel in Lagos, celebrated the outstanding contributions of media professionals across the nation.

Ahuchaogu, known for his innovative approach to journalism and commitment to truth-telling, has significantly impacted the Nigerian media landscape. Under his leadership, Truetells Nigeria has become a trusted source of news, focusing on integrity, accuracy, and insightful reporting.

In his acceptance speech, Ahuchaogu expressed gratitude to his team and readers. “This award is not just for me, but for everyone at Truetells Nigeria who works tirelessly to uphold the values of honest journalism. We are dedicated to telling the stories that matter and serving the public with transparency,” he said.

The TM News Awards, an annual event that honors excellence in journalism, attracted numerous prominent figures from the media industry, government officials, and celebrities. This year’s event highlighted the crucial role of the press in fostering democracy and accountability in Nigeria.

Ahuchaogu’s recognition as Media Personality of the Year comes at a time when the media faces various challenges, including misinformation and censorship. His unwavering commitment to ethical journalism is seen as a beacon of hope for aspiring journalists and media practitioners across the country.

As Truetells Nigeria continues to grow, Ahuchaogu aims to expand its reach and influence, leveraging digital platforms to engage a broader audience and promote informed discourse. The award not only reinforces his status in the media community but also inspires a new generation of journalists in Nigeria.

The TM News Awards 2024 served as a reminder of the vital role media plays in society and the importance of celebrating those who strive to make a difference through their work.

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