Bank re-capitalisation: I was wrong to say 12 banks had been shut down – Content creator

A popular content creator, Unofficial Osas, has said he was wrong to have said that 12 banks in Nigeria had been shut down in connection with the recapitalisation policy for banks.

He made the disclosure in his apology after the Association of Corporate and Marketing Professionals in Banks (ACAMB) secured a public retraction from him over a video he posted on the subject matter, which went viral on the social media.  The development came to the fore when the association intervened to correct misinformation surrounding Nigeria’s banking recapitalisation policy.

Unofficial Osas had earlier been invited by the police for interrogation on the viral video.

The banking sector recapitalisation programme, as gathered, is designed to strengthen banks’ balance sheets, enhance their ability to support economic growth, and ensure resilience against global financial shocks.

The move, ACAMB said, was aimed at fostering accurate public discourse and safeguarding confidence in the financial system after misleading claims circulated online about the recapitalisation drive of the (CBN).

The intervention culminated in the withdrawal of a viral video that had wrongly said that 12 banks had been shut down in connection with the recapitalisation policy.  The development, according to the association, emphasised its commitment to public enlightenment and responsible financial communication. In an official apology video, Unofficial Osas disclosed that he was invited by the police in Abuja over the video he posted on December 15, 2025. He said: “As a matter of fact, most of the banks have now met the ₦500billion minimum capital base for banks with international and the ₦200billion for national banks recapitalisation requirements. So, no bank is shutting down.

“I want to specifically appreciate ACAMB. They were very professional in handling this case and did well to educate and enlighten me on the recapitalisation process. I am now better informed and know better.” President of ACAMB, Jide Sipe, in his reaction to the apology by Unofficial Osas, reaffirmed the association’s commitment to strengthening trust in Nigeria’s banking industry.