CBN
CBN Reassures Nigerians on Banking Sector’s Stability
The Central Bank of Nigeria (CBN) has reassured the public that Nigerian banks are stable and sound.
The CBN dismissed as untrue certain publications
and social media reports containing misleading information regarding the operations of a
regulated financial institution.
A statement by Hakama Sidi Ali (Mrs.), CBN’s Acting Director, Corporate Communications, stated that “the CBN wishes to categorically reassure the public, depositors, and stakeholders that the
Nigerian banking sector remains resilient, safe, and sound.
“Like all other regulated
institutions, the institution referenced in these reports is held to stringent regulatory requirements, and there is no cause for concern regarding the safety of depositors’ funds.”
The CBN affirmed that it continues to monitor all financial institutions under its regulatory purview and maintains robust frameworks for early warning signals and risk-based
supervision.
“These mechanisms ensure that any emerging issues are promptly addressed
to protect the integrity of the financial system,” it stated.
The apex bank urged the public to disregard sensational or unverified claims and rely solely on official channels for information about the financial system.
It said it “remains dedicated to fostering a secure banking environment where depositors can be fully confident in the safety of their funds,” assuring that “it will continue to monitor and adapt strategies to safeguard the financial interests of all Nigerians and stakeholders in our financial
system.”
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