By Olusegun Obisanya
The Chartered Institute of Bankers of Nigeria has pledged to collaborate with financial journalists to deepen public understanding of banking recapitalisation, tax reforms and developments in the financial sector.
The Registrar/Chief Executive of CIBN, Akin Morakinyo, made the pledge on Saturday at the annual 2026 Finance Correspondents Association of Nigeria conference and 36th anniversary in Lagos, themed, “Building on the Gains of Recapitalisation, Tax Reforms & the Fintech Revolution.”
Morakinyo said the institute was ready to support FICAN in strengthening financial journalism and improving public awareness of major reforms affecting the economy.
“From the Chartered Institute of Bankers of Nigeria, the umbrella professional body of banks in Nigeria, we are more than happy to collaborate with you. Wherever you want support, we will give,” he said.
He urged financial correspondents to deploy the influence of the media to educate Nigerians and promote better understanding of the reforms, stressing that the media remained a powerful force in shaping public opinion.
“Whatever you have and you do not use is of no use. When you talk of reforms, the topic of this conference is talking about building on the gains of recapitalization, the tax reforms agenda, and whatever you want to call it. All this would be worthless without your vote,” Morakinyo added.
He described the press as the “fourth estate of the realm,” saying journalists had an important responsibility in communicating reforms to the public.
“We refer to the press, the media, as the fourth estate of the realm, not for saying’s sake, but because of the power that the press has,” he said.
Morakinyo also highlighted the agenda-setting role of the media in influencing public understanding of national issues.
“One of the biggest theories in communication is the agenda-setting theory, which gives credence to the power of the media in shaping the minds and thoughts of the populace,” he said.
He said reforms should be understood as efforts to correct existing problems and improve systems rather than measures designed to worsen the situation.
He added, “And so I believe that the essence of reform is to make things better and not bitter.”
The CIBN chief stressed that awareness and education were essential to the success of reforms, urging journalists to use their platforms responsibly.
“And so we know that with every reform or anything, the entire process starts with awareness and then followed on by education. And so we have a very powerful tool in our hands,” he stated.
