FOREWORD

Since financial institutions play leading roles in the economic life of any nation, the emergence of Financial Public Relations (FPR) should be viewed as a good development in financial reporting and communication. This subject, no doubt, is an innovation in public relations and it is treated generally as such, but it has definitely recommended itself to be examined as a distinct field of enquiry because of its relevance in our present times.

The writeup is to date and reflective of the ever evolving and dynamic nature of public relations all over the world. It makes this book a friendly companion for every public relations practitioner, scholar and employer of PR skills.

The concept of financial public relations which is basically the application of the public relations principles by financial organisations to establish and maintain goodwill and mutual understanding between them and their publics could be said to be a relatively recent concept in Nigeria. However, due to the changing nature of the economy, the high competition among financial institutions and the growing media involvement in financial reporting, interest in this subject by financial experts is naturally rising.

Financial Public Relations- The Nigerian Approach, written by Mr. Yushau Abdulhameed Shuaib, addresses contemporary public relations practice in Nigerian competitive financial environment and sets a new agenda for further scholarly work on the subject.

The book is exploratory, practical and prescriptive. It examines the intricate financial environment of Nigeria which FPR activities take place. It has also painstakingly identified key players in the country’s financial environment.

Reputation management has in recent dominated in PR parlance where image used to be the catchword. The exposition of this concept could not have been more apt in terms of its current application by corporate bodies than the way the author has presented it in this work.

This, in addition to his treatment of other issues like media selection and the various approaches to ease the task of the public relations practitioner, marks out the book as a valuable read for journalists, researchers and students.

Professor Jerry Gana, FNIPR

Hon. Minister of Information and National Orientation

Federal Republic of Nigeria

PREFACE

By Senator Jubril   Martin-Kuye

In every sphere of our existence, economic factors and their relationship with other human endeavours, be it political or social have constantly dominated the discourse in our daily living.  In fact, corporate organisations, financial and government institutions are more concerned about how the society rates them as it bothers on their reputation and activities.

There is therefore, no better instrument to winning the support and acceptance of the diverse segments of the society than for the organisations and individuals concerned to apply effective strategies in maintaining better public understanding and mutual relationship.  These can only be attained by the way and manner in which the public is adequately informed through appropriate channels of communications.

The book “Financial Public Relations – The Nigerian Approach” written by Yushau Abdulhameed Shuaib possesses the qualities of a book that will benefit financial wizards and managers both in the Public and Private sectors of our economy who deal regularly with the public.  The author trained in the art of communication within and outside the country and with additional higher degree in Banking and Finance, is an experienced spokesperson in government and financial circles.

The author did not just rely on instructions received, but utilised his wealth of experience as an award winner, which gives the book a vantage opportunity to apply informed views on the communication processes within the financial institutions whether it be the public or the private sector of the economy.

Although, recently there has been an increase in the number of indigenous literature in finance and mass communication, one advantage that this book may have over others is that it is predicated on the combination of current communication practices in corporate and financial institutions.  It may not be out of place to note that the publication is probably the first indigenous textbook on the financial public relations in Nigeria.

The Book is comprehensive and detailed.  The recommendations, concepts are purposely and impressive and the conclusions are instructive.

The book gives introduction to Financial PR and discusses the financial environment, its institutions, as well as Public Finance.  It also deals with public relations concepts and integrated marketing communication.  A special chapter is devoted to research, planning and budgeting which are interrelated and core management functions.  Other areas treated include relationship management, media events, reputation management, crisis and issues management, corporate identification and membership of professional bodies.

The author also tries to justify the title of the book, which has the rider  ‘ The Nigeria Approach’ by citing practical and local examples of application of PR skills by organisations/institutions.  The current development in the telecommunication sector, especially the introduction of GSM is also mentioned.  Such examples that are not far fetched, make the readers able to relate comfortably and understandably well with issues being discussed.  These enliven the topics and take them beyond theoretical academic discussions.

Generally, the book makes for interesting and exciting reading.  No doubt, the book is a good addition to the body of knowledge on financial system and public relations in Nigeria.  It draws widely from the works of reputable authors and professionals locally and internationally in line with the academic tradition.

This book is surely  readers’ friendly. Therefore, every serious manager, chief executives, media and PR practitioner, should be curious to read and digest the content for continuous improvement and keeping themselves abreast of current practices in the reputation and relationship management.

                                                                                                                                                          Without any qualms, I therefore, hasten to recommend the book to target readers.  The author deserves encouragement and his initiative should be a challenge to other practitioners and academics.

Finally but most importantly, I want to thank God for the author for inspiring him to write this book.

Senator Jubril Martin-Kuye

Hon. Minister of State Finance