Crisis Communication Strategies of Select Banks during the Naira Redesign Policy in Nigeria

Ekemini George Okure; Prof. Walter Ihejirika; Prof. Obiageli Ohiagu

doi:10.5281/zenodo.14035697

Crisis Communication Strategies of Select Banks during the Naira Redesign Policy in Nigeria

Authors

Ekemini George Okure Department of Linguistics and Communication Studies University of Port Harcourt, Rivers State, Nigeria https://orcid.org/0009-0000-8721-1457
Prof. Walter Ihejirika Department of Broadcasting University of Port Harcourt, Rivers State, Nigeria https://orcid.org/0009-0000-8721-1457
Prof. Obiageli Ohiagu Department of Public Relations and Advertising University of Port Harcourt, Rivers State, Nigeria https://orcid.org/0009-0000-8721-1457

DOI:

https://doi.org/10.5281/zenodo.14035697

Keywords:

Crisis, Crisis Communication, Naira Redesign, Nigerian Banks

Abstract

This study aimed to determine the crisis communication strategies employed by select Nigerian banks during the Naira redesign crisis, utilizing the situational crisis communication theory as its foundation. A survey research design was adopted, with data collected from 384 respondents through a structured questionnaire. Findings indicated that Nigerian banks did not keep customers adequately informed with regular updates throughout the Naira redesign policy period, as customers reported not receiving consistent messages on alternative banking methods. The researchers recommend that banks and financial institutions establish, adjust, and enhance their communication management systems during crises to effectively manage and mitigate social crises.

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2024-11-04

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Ekemini George Okure, Prof. Walter Ihejirika, & Prof. Obiageli Ohiagu. (2024). Crisis Communication Strategies of Select Banks during the Naira Redesign Policy in Nigeria. GVU Journal of Research and Development, 1(2), 191–203. https://doi.org/10.5281/zenodo.14035697

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Vol. 1 No. 2 (2024): GVU Journal of Research and Development

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This work is licensed under a Creative Commons Attribution 4.0 International License.

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‘‘The competition in the manufacturing industry is increasing as organisations are faced with challenges, which include complex developments, technological trends, rapid growth of the need for qualified, loyal, and experienced employees, globalisation and deregulation. These quick changes force them to run their companies well in terms of employee performance, client happiness and organisational dedication.’’

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Communication plays a very crucial role in our modern society as it contributes to the development of every society (Asemah & Ekhareafo, 2023).

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Reference Section

Text Books

Asemah, E.S., Gujbawu, M., Ekhareafo, D.O. & Okpanachi, R.A. (2012) Research methods and procedures in mass communication. Jos: Great Future Press.

Journals

Asemah, E. S., Okpanachi, R. A. & Olumuji, E. O. (2013). Communicating corporate social responsibility performance of organisations: A key to winning stakeholders' goodwill. International Journal of Arts and Humanities, 2 (4), 27- 54.

Enerijiofi, K. E., Akapo, F. H. & Erhabor, J. O. (2021). GC-MS analysis and antibacterial activities of Moringa oleifera leaf extracts on selected clinical bacterial isolates. Bulletin of the National Research Centre, 45 (179), 1 -10.

Conference Proceedings

Nwaoboli, E. P. Chukwu, N. V. & Asemah, E.S. (2021). Mass media and coronavirus campaigns in Benin City: Examining the status conferral approach. In E. S.

Asemah., J. U Idialu., S. O. Ajagun., M. Osemeke., E. Okwudiri., M. Oaikhena., F. Ohiokha & K. Ola (Ed.).Pandemic in the 21st Century: Multi-dimensional Approaches. Edited Conference Proceedings of the 2nd College of Management and Social Sciences 2021 Conference. Ogwa: Samuel Adegboyega University.

Edited Books

Nwaoboli, E. P. & Asemah, E. S. (2021). Textual analysis of select online media use of fear appeals in the promotion of COVID-19 vaccination in Nigeria. In E. S. Asemah (Ed.). Communication, Pandemic and Civil Unrest in Nigeria (pp. 5-19). Enugu: Franklead Press.

Internet Sources

Egunjobi, J. P. (2020). Wearing mask to combat COVID. Retrieved from https://www.researchgate.net/publication/341881748_Wearing_Mask_to_Combat_COVI D.

Newspapers

Eze, J. K. (2022). Communication and development. The Daily Sun, August 24th , p. 5.

Magazines

Eze, J. K. (2022). Communication and development. The Tell Magazine, June 24th, p. 5.

Crisis Communication Strategies of Select Banks during the Naira Redesign Policy in Nigeria

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