Free Media and Bank Reforms in West Africa

Abstract

The growth of independent media has been observed globally to be a key factor in any nation's determination to create an enabling environment for sustainable development. In addition, it is believed that efficient banking institutions vividly illustrated by unhindered cash and credit flow are the linchpins of an unimpeded socio-economic development. This explains why Nigeria and some other countries in West Africa sub-region have quickly identified the critical roles free media could play in achieving the above tasks. This chapter, anchored under two normative theories of the media examined the strategic roles of independent media in banking sector reforms in West Africa sub-region. Besides, it appraised the degree of impacts which the interplay of media and bank reforms has produced in the development of the region. The study traced the origin of the media and banking industries in four countries and discovered the major trends that have occasioned the reforms. The challenges that constituted a drag in the wheel of effective communication of bank reforms and the implications for development were identified while recommendations were made to checkmate the trend.