By Sandra Ukele
Proshare Nigeria Founder, Olufemi Awoyemi has called on media practitioners to design and operate a functional business model for sustainability.
He said the media play a crucial role in shaping public opinions on banking policies.
Awoyemi made this call at a parley organised by the Association of Corporate Affairs Managers of Banks, ACAMB, held recently in Lagos.
He also urged Corporate and Marketing Communication Professionals working in Deposit Money Banks, DMBs, in Nigeria to refocus core regulatory governance guidelines and aggregate their leverage to deliver on their reputational risk management mandate.
Speaking on the theme “Reporting the Nigerian Financial Sector in a Dynamic World: What Role for the Journalist?”, Awoyemi stated that journalists must realize that it is a new world and therefore should retool, reskill, and retrain to broaden their understanding, impact and value.
According to him, a journalist’s mind may naturally be sceptical, but that does not mean it should be biased towards bad outcomes. “If the balance of facts suggests that the result of a policy or event is positive, so be it; the journalist is not a hangman but an observer and writer. He or she provides society with a dynamic ‘journal’ of unfolding events,” he said.
Awoyemi emphasized that the role of a financial reporter in a rapidly changing world is to; gather information and gain understanding; develop context and perspective; apply analytical /numerical tools as interpretative aides; engage constructively with stakeholders; and provide unbiased fact-based narratives.
“It is an avenue for thorough discussions, establishment of guidelines and the need for a thorough review of policies and processes,” he said.
He further stated that of all the sectors in the economy, the financial service sector is the best example of progress in Nigeria, stressing that banks have invested more in research, strategic planning and testing new ideas.“The Nigerian banking sector is a recognised global leader for its innovation, high level performance, apex infrastructure system and the best in terms of settlement system”, he said.
He enjoined Journalists to ensure that their report is geared towards moving the banking system forward and not bring it down. “This is not about telling you what to do or not, but that a balance must be achieved”, he said.
Earlier in his welcome address, ACAMB President, Rasheed Bolarinwa stated that one of the greatest challenges faced as brand custodians working with DMBs in Nigeria is the threat posed by adversarial Bloggers and few media outlets who deliberately sponsor reports which portray brands in bad light.
The rise of online and social media continues to escalate the spread of negative stories and magnifies customer complaints, further driving negative sentiments about brands, he explained, adding that the disturbing trend has been further affirmed by KPMG Customer Satisfaction Survey of 2021.
Bolarinwa said ACAMB will continue to facilitate interactive session with media practitioners to facilitate understanding, he however pointed out the danger of negative reporting, fake news for both the banking sector and the media industry.
He opined that the banking industry deserves a better media understanding hinging his call on the fact that, “ a sector that has and continues to be the biggest spender on Nigeria media across all spectrum deserve fair reporting”.
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