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UBA GMD Tasks Media Practitioners on News Channels Paradigm Shift

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Mr. Phillips Oduoza, United Bank for Africa (UBA) Plc, has tasked media practitioners in Nigeria on the need to embrace contemporary channels in news dissemination, stating that social media have transformed the bank’s customer experience.

Oduoza’s wakeup call was contained in his welcome address at a Functional Social Networking for Nigerian Journalists summit held in Lagos on Thursday.

The GMD cited a recent study in America which showed how internet penetration will improve through broadband services including Nigeria.

“Of course, the report”, he said, “revealed that half of the Americans get their news through the social sites; they represent about 30% of the American population. Also, 52% of Twitter users get their news through twitter channel. It is also interesting that these percentages get higher with the younger people coming on board and a clear indication of what the future looks like. In Nigeria, the youths constitute of 75% of the population. And they are the future of this country”.

 He said that across Africa, the population is approximately one billion, with the youths close to about 700 million; “that is very huge. If you lose out in this very segment, then you are losing something substantive”. 
The UBA boss said that UBA operates in 19 African countries, which are the most strategic markets in Sub-Saharan Africa. However, it has stayed ahead of competition through various e-banking innovations and leverage on the social media.

He said: “We facilitate trades and financial transactions across the Continent, employing over 25,000 staff. We are truly a Pan-African bank.

“We consider the media as critical in what we are doing. They not only hold government accountable, the play major roles by influencing policies for the continent. They must be supported to continue to play the critical roles.  

“As a bank that considers the media as critical stakeholders in our development, we are taking note that the media is changing globally. The rise in social media following the disruptive technologies, have caused a rapid shift from the normal practices. This goes to tell that any medium that falls to embrace the social media may soon close shop due to losses.

“The rise of social media is disrupting models in the marketing space. Media moguls have realized the need to change their business models while journalists need not be told to learn new skills”.

Oduoza while admitting that the media industry in Nigeria needs financial interventions in line with recent Federal Government’s approach to the agriculture, entertainment and financial sector, he said that UBA was ready to rally other stakeholders to map out funds in support of innovative media organizations.

Earlier, Taiwo Obe, the convener, said that the summit had become expedient following unethical practices witnessed among untrained members of the public, who are taking the roles of the real-time news men. He said the trend can be addressed when the present news rooms are digitalized in conformity to the contemporary digital media.

He expressed optimism that with the digitization of the newsroom coupled with journalists’ readiness to embrace the social media, the professional norms, values and ethics can be restored.

The organized by Journalism Clinic and Everything About Journalism, sponsored by UBA Pls also drew attentions of both the academic and practitioners.   
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