Business
ACAMB Celebrates Nigerian Banks Over Successful Recapitalisation Drive
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.
Also read: CIBN Pledges Support for ACAMB’s Strategic Vision
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.
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.
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.
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.
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: Jide Sipe, UBA’s Abiodun Coker, Others Elected as ACAMB Executives
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.
The Niger Delta Chamber of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA) has dismissed allegations that it appropriated the Niger Delta Economic & Investment Summit (NDEIS) brand, insisting it lawfully obtained trademark acceptance for the name and will proceed with its 2026 summit as scheduled.
In a statement issued on September 12, 2026, the chamber described claims by Kunle Nwiwa Junior as “cheap blackmail, misleading, mischievous and a misrepresentation of the facts,” maintaining that it independently developed the summit and followed all required regulatory procedures.
According to NDCCITMA, it applied for and received a Trademark Acceptance Letter for the name Niger Delta Economic & Investment Summit (NDEIS) in August 2025 under File No. NG/TM/O/2025/387284.
The chamber said the chronology of events contradicts allegations that it copied another party’s application, arguing that its trademark acceptance predated the period during which Nwiwa’s own application was reportedly still pending before the relevant authorities.
“Economic Summit” is a generic expression
NDCCITMA further argued that the phrase “Economic Summit” is a generic description widely used for conferences that bring together governments, investors, businesses, development institutions and other stakeholders to discuss investment and economic development.
The chamber maintained that while concepts may be widely used, legal protection only arises from recognised intellectual property rights, including duly registered trademarks and other enforceable proprietary interests.
It therefore rejected suggestions that any individual or organisation has exclusive ownership of the broader concept of an economic summit.
Court grants interim injunction
Addressing reports that the summit had been halted, NDCCITMA said the dispute is already before the Federal High Court in Port Harcourt and that there is no court order restraining the event.
The chamber disclosed that in Suit No. FHC/PHC/CS/57/2026, Justice Stephen Dalyop Pam granted an interim injunction restraining the defendants—Kunle Nwiwa Junior and Keneva Consult Ltd.—from interfering with the planned summit.
According to NDCCITMA, the court also directed the defendants to remove publications, notices, petitions, social media posts and other statements allegedly considered damaging to the chamber’s name, integrity and reputation pending the hearing of its motion for interlocutory injunction.
The matter has been adjourned until September 22, 2026 for further hearing.
Chamber rejects ₦500 million demand claim
NDCCITMA also alleged that it had received a demand from Nwiwa Junior requesting ₦500 million as a condition for abandoning his claims over the summit.
The chamber said the demand was rejected, adding that it subsequently petitioned the Inspector-General of Police over what it described as repeated harassment and threats directed at its officials.
It said the petition sought police intervention, including inviting the complainant for questioning and caution where necessary.
Summit opens September 15
Despite the legal dispute, NDCCITMA reaffirmed that the 2026 Niger Delta Economic & Investment Summit will hold from September 15 to 17, 2026, at the Obi Wali Conference Centre in Port Harcourt, Rivers State.
The summit will be held under the theme “Driving Investment, Innovation & Industrial Growth in the Niger Delta” and is expected to bring together policymakers, investors, business leaders, development partners and industry stakeholders to discuss economic transformation across the region.
The chamber said it remains committed to promoting commerce, industry, trade, mining, agriculture and sustainable economic development throughout the Niger Delta while allowing the courts to determine all outstanding legal issues.
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