E-Financial
ACAMB Kicks-off 30th Anniversary Celebration With Tree Planting Initiative
Association of Corporate Communication and Marketing Professionals in Banks (ACAMB) on the 11th of June kicked off activities, marking its 30th anniversary celebration with a tree-planting exercise on Providence Street, Lekki Phase 1, Lagos.
L-R: President, Association of Corporate Communication and Marketing Professionals in Banks (ACAMB), Jide Sipe; Representative of Wema Bank, Precious Akpan; Vice President 2, Morolake Onifade, Representative of Alpha Morgan, Tolu Onipede and General Secretary, ACAMB, Olugbenga Owotoomo during a tree planting initiative, put together to flag-off the 30th anniversary celebration of ACAMB, held at Providence Street, Lekki Phase 1, Lagos
Held in Lagos recently, the initiative, the initiative was part of the associations efforts aimed at promoting environmental sustainability while commemorating 3 decades of advancing corporate communications and marketing excellence within Nigeria’s banking industry.
The well attended exercise, led by President of ACAMB, Jide Sipe and the Registrar/Chief Executive Officer of the Chartered Institute of Bankers of Nigeria (CIBN), Akin Morakinyo, in the company of Vice President 1, Chinwe Bode Akinwande; Vice President 2, Morolake Onifade; Executive committee Members, both past and present, alongside, Group Heads of marketing and Corporate communications, and Heads of Departments across banks waded through the heavy downpour, planting trees in the rain in a display of commitment that set the tone for the milestone celebration.
A tree was planted, by representatives of banks in the country and named after each bank.
ACAMB President, Jide Sipe, who welcomed members and dignitaries to the exercise, reaffirmed the Association’s commitment to the reputation and growth of the banking industry.
“Thirty years ago, a handful of professionals chose to put the reputation of the banking industry above rivalry. We are standing today on the foundation they laid, and every tree we plant here is a promise to keep building and most importantly deepen credibility by proactively addressing issues which directly improve our collective brand image and customer loyalty,” he said.
“What ACAMB is doing also coincides with our 30th anniversary celebration. One of the best ways to celebrate this milestone is to contribute to the environment by the planting of trees that will on the long run be environmentally and economically impactful to the society at large.
“We are planting trees in honour of banks in the country and each of the trees will be named after them.
Outlining the anniversary programme, Sipe announced a series of activities running through September 2026, including a Golf and Networking Experience on June 27, 2026, at Ikoyi Club, Lagos, with the celebration culminating in a grand Gala Night on September 30, 2026.
“We are marking three decades the way they should be marked, with substance and with joy,” he said.
The Registrar and Chief Executive Officer of the Chartered Institute of Bankers of Nigeria (CIBN), Akin Morakinyo, HCIB, unveiled the Association’s 30th anniversary logo and commended ACAMB for its longstanding collaboration with the Institute.
“This anniversary is dedicated to the glory of God and the service of humanity,” he said. “I charge every member to hold firmly to professionalism and ethics in the discharge of their duties.”
A founding member of the association, Dr Nkechi Ali Balogun, offered a historical reflection on its formation. ACAMB was established in 1996 by representatives of five institutions: IBWA (later Afribank), Union Bank, NEXIM Bank, First Bank, and the Central Bank of Nigeria (CBN).
“The late Mr. Dangogo of the CBN gathered us at Kuramo Lodge with a simple idea, that banks could compete and still respect one another,” she said.
Member of the Association’s Board of Trustees, Ogie Eboigbe, traced the formation to concerns over banks de-marketing one another.
“Banks were winning customers by tearing down their rivals, and it was hurting public confidence in all of us,” he explained.
The tree-planting exercise reflects ACAMB’s commitment to environmental sustainability and stands as a fitting symbol of the Association’s growth and impact over the past three decades.
Financial Derivatives Company (FDC) Limited, a premier economic think-tank and financial advisory firm, led by Bismarck Rewane, has reported that Nigerians have accumulated an estimated $59 billion in cryptocurrency holdings.
Bismarck Rewane
According to data released by the firm highlights the country’s emergence as one of Africa’s and the world’s major players in digital assets.
The earlier disclosure reflects a profound shift in Nigeria’s financial landscape.
In Africa’s largest economy, crypto has moved from a fringe activity to a mainstream tool amid persistent inflation and naira volatility.
Citizens and businesses are increasingly turning to dollar-pegged stablecoins and decentralised platforms, building a parallel financial system with significant economic influence.
Nigeria continues to rank among global leaders in adoption.
According to Chainalysis’ 2024 Global Crypto Adoption Index, the country placed second worldwide for grassroots adoption, driven by widespread use in everyday transactions and cross-border commerce.
Despite these impressive statistics, a notable contradiction remains in public perception.
While stocks, real estate, mutual funds, and foreign currency are openly discussed, many Nigerians still approach cryptocurrency with caution, often downplaying their involvement.
Crypto assets, or cryptocurrencies, are digital assets utilizing cryptography, peer-to-peer networking, and distributed ledger technologies (like blockchains) to secure, verify, and record transactions.
Unlike traditional fiat currencies issued by central banks, these assets operate without central intermediaries, functioning globally as alternative stores of value or transactional mediums.
Flutterwave, an African-founded payments technology company, has partnered with Xoom, PayPal’s international digital money transfer service, to enable faster international money transfers into Nigeria.
The partnership connects Xoom’s global money transfer network with Flutterwave’s local payout infrastructure, allowing customers worldwide to send funds directly to Nigerian bank accounts with local settlement in naira.
Under the arrangement, Flutterwave converts Xoom transfers and settles them locally, enabling recipients to receive funds directly into accounts held at Access Bank, United Bank for Africa, Zenith Bank, First Bank of Nigeria, Guaranty Trust Bank and other participating banks.
Nigeria is one of Sub-Saharan Africa’s largest remittance recipients, receiving more than $20 billion in personal remittances in 2024. However, international payments have historically been affected by foreign exchange constraints and settlement delays.
Flutterwave said the partnership aims to address those challenges by combining Xoom’s international reach with its local compliance capabilities and banking partnerships to simplify cross-border money transfers into Nigeria.
Xoom enables consumers to send money, pay bills and top up mobile phones in approximately 160 markets worldwide as part of PayPal’s global payments ecosystem.
“Millions of Nigerians rely on money from abroad to support everyday needs, whether it’s families receiving help from loved ones, freelancers getting paid for their work, or individuals earning income from the global economy,” said Olugbenga Agboola, founder and CEO of Flutterwave.
“This partnership makes it easier and more reliable for people in Nigeria to receive funds and stay connected to opportunities beyond borders.”
The collaboration expands Flutterwave’s cross-border payments infrastructure and strengthens access to international remittance services in one of Africa’s largest payments markets.
The Securities and Exchange Commission (SEC) has unveiled plans to make sustainability reporting mandatory for large public interest entities from 2027 as Nigeria moves to align its corporate disclosure framework with global environmental, social and governance (ESG) reporting standards.
The phased implementation will begin with voluntary adoption by early adopters and large public interest entities before becoming mandatory in 2027. The requirement will extend to other public interest entities in 2028 and small and medium-scale enterprises (SMEs) by 2030.
Dr Emomotimi Agama, Director-General of the SEC, disclosed this at the 2026 Financial Institutions Training Centre (FITC) Sustainability and ESG Conference 3.0 in Lagos, themed ‘Building a Sustainable Africa: Integrating Environmental Stewardship, Social Investment, and Strong Governance for a Prosperous Future’.
Agama said Nigeria’s sustainability disclosure regime is being aligned with the International Sustainability Standards Board (ISSB) framework, including IFRS S1 and IFRS S2, which have emerged as the global benchmark for sustainability reporting.
He said that institutional investors increasingly consider ESG performance a key determinant of capital allocation rather than a peripheral corporate responsibility issue, noting that the price of entry is disclosure.
He said the reforms would strengthen investor confidence and position Nigerian businesses to access global capital markets, where sustainability disclosures are becoming an essential investment requirement.
According to him, Nigeria’s capital market has recorded significant expansion, with market capitalisation growing from about N130 trillion to nearly N160 trillion following recent market reforms, while assets under management have surpassed N9 trillion.
To deepen sustainable finance, Agama said the commission was promoting infrastructure, green and municipal bonds, alongside infrastructure-focused investment funds, to mobilise long-term capital for critical national projects.
He added that the SEC would also encourage investments in the blue economy and support financing for the power sector through green energy bonds, project bonds and public-private investment structures.
The SEC chief cited the recent launch of the Nigerian Exchange (NGX) Impact Board as another milestone in advancing sustainable finance and urged companies, regulators and investors to move beyond commitments by embedding sustainability into governance, operations and investment decisions.
Managing Director and Chief Executive Officer of the Financial Institutions Training Centre (FITC), Dr Chizor Malize, said sustainability and ESG had evolved from compliance issues to core drivers of business competitiveness, investment decisions and economic development.
She said the conference, now in its third edition since 2024, had become a leading platform for advancing sustainability discourse in Africa, adding that this year’s gathering was designed to move stakeholders “from conversation to commitment”.
Chairman of the FITC Advisory Board, Prof Fabian Ajogwu, described governance as the foundation of sustainable development, arguing that Africa must become a standard-setter rather than merely adopting frameworks developed elsewhere.
Although Africa contributes less than four per cent of global greenhouse gas emissions, he said, the continent bears a disproportionate share of climate-related impacts, including worsening floods and increasingly erratic weather patterns.
Ajogwu also cited estimates that poor governance costs Africa between $88 billion and $90 billion annually, while highlighting technology-driven agricultural initiatives, including a partnership involving Morocco’s OCP Group and the Nigeria Sovereign Investment Authority (NSIA), as examples of practical models that should be replicated across the continent.
Delivering the keynote address, Chairman of the MTN Nigeria Foundation, Mosun Belo-Olusoga, said the debate over the relevance of sustainability and ESG had ended, with the real challenge now centred on implementation.
She observed that global investors increasingly evaluate businesses on governance quality, resilience and their ability to manage environmental and social risks, in addition to profitability.
Belo-Olusoga noted that despite contributing the least to global carbon emissions, Africa possesses vast arable land, abundant renewable energy resources and critical minerals required for the global energy transition.
She identified four leadership priorities for the continent: shifting from short-term performance to long-term value creation, replacing corporate philanthropy with strategic social investment, moving beyond regulatory compliance to responsible leadership, and strengthening collaboration among governments, businesses and development partners.
She also outlined five priorities for Africa’s ESG agenda over the next decade, including embedding sustainability into corporate strategy and governance, investing in human capital, mobilising indigenous capital through instruments such as green bonds and pension funds, strengthening institutional accountability, and fostering partnerships in renewable energy, digital technology and climate-smart agriculture.
“The defining challenge before Africa is not a shortage of vision; it is execution,” Belo-Olusoga said, urging governments to create enabling policies, businesses to integrate ESG into enterprise risk management, and financial institutions to develop innovative financing mechanisms that support a green and inclusive economy.
Tinubu Orders NIMC to Enrol Every Nigerian by End of this Year – DG
Nigerians Accumulate $59Bn in Cryptocurrency Assets —FDC
Nearpays, Nigerian Fintech Becomes First African Startup to Win UN’s AI for Good Innovation Factory
Nokia’s 14 Years of Mobile-Phone Supremacy Ended in an Afternoon
MTN Nigeria Slashes Cost of Broadband Internet Router, Unwraps New Data Bundles for Low-Budget Users
NRC, Ponzi Scheme Collapses Resulting Loss of Billions of Naira
Nigeria Launches FreeTV Nationwide
NASENI Moves to Digitize CCB’s 5m Assets Declaration and Operations
Lebara Nigeria Launches Lebara Play, Africa’s First Telecom-Owned Micro-Drama Platform
CANAL+ Partners Samsung to Pre-Load DStv Stream on New Samsung TVs In Nigeria, Other African Countries
News1 day agoXora Finance, Fintech Firm Refuses to Hire Nigerians over Alleged Dishonesty
Telecom1 day agoNCC Advances Dig Once Policy, Engages Stakeholders on Cost-Based Framework for Duct Sharing
General News1 day agoFG Secures Fresh $208.3m World Bank Loan for Cash Transfer
Telecom1 day agoNCC to Keynote Telecom Sector Sustainability Forum 7.0
News1 day agoHow Ponzi Scheme Victims can Seek Legal Remedies — Lawyers
News1 day agoPalmPay Nigeria Appoints Samuel Oluyemi as Chief Operating Officer
General News1 day agoSERAP Sues INEC over Alleged N800Bn 2027 Tinubu Campaign Fund
E-Business1 day agoKaigama,Catholic Archbishop of Abuja Warns against Misuse of AI