Dr. Obinna Chima, the Saturday Editor of THISDAY, has urged financial journalists to move beyond simply reporting financial figures and institutional statements. He made the call at the Central Bank of Nigeria's 38th Seminar for Finance Correspondents and Business Editors in Abuja. Chima emphasized the need for a shift in financial journalism to provide deeper interpretation of the forces shaping Nigeria's rapidly changing financial system.
According to Chima, developments such as banking recapitalisation, tax reform, and the fintech revolution have fundamentally changed the financial system. He questioned whether financial journalism was evolving at the same pace as the changing financial landscape. Chima argued that journalists must do more than reproduce numbers or statements from financial institutions, stressing that reporting must move beyond figures to interpretation.
Chima identified the role of financial journalists as interpreters, investigators, educators, and watchdogs. He emphasized the importance of credible financial reporting and trust, noting that the quality of information available directly affects confidence in the financial system. Chima added that Nigeria cannot build a genuinely future-ready financial system without a future-ready financial media.
Chima described journalists as a bridge between highly technical financial institutions and the wider public. He cautioned financial journalists against sacrificing accuracy for speed, declaring that credibility is more valuable than being first. Chima also stressed the importance of financial literacy as a responsibility of the media.
The media plays a crucial role in explaining financial reforms, connecting policy to citizens, and promoting financial education. Chima maintained that technology alone would not determine the future of Nigeria's financial system. He argued that a credible media would remain essential to building trust, promoting accountability, and helping citizens understand the rapidly changing financial landscape.
Chima emphasized that the future of Nigeria's financial system depends not only on technological innovation but also on a credible media. He noted that a credible media would help build trust and promote accountability. Chima's call for a shift in financial journalism highlights the need for journalists to adapt to the changing financial landscape.
The seminar, organized by the Central Bank of Nigeria, brought together finance correspondents and business editors to discuss the role of the media in building a future-ready financial system. Chima's presentation titled "The Role of the Media in Building a Future-Ready Financial System" provided insights into the changing financial landscape and the need for journalists to evolve.
Key points
- Dr. Obinna Chima calls for a shift in financial journalism to provide deeper interpretation of Nigeria's changing financial system.
- Financial journalists must move beyond simply reporting financial figures and institutional statements.
- A credible media is essential to building trust, promoting accountability, and helping citizens understand the rapidly changing financial landscape.
