The Central Bank of Nigeria (CBN) has issued a statement reassuring the public about the stability and resilience of the Nigerian banking sector. This announcement follows recent publications and social media reports that contained what the CBN described as misleading information concerning the operations of a regulated financial institution.
In a press release issued on Tuesday, Mrs. Hakama Sidi Ali, Acting Director of Corporate Communications, emphasized that the Nigerian banking sector remains safe and sound. “The CBN wishes to categorically reassure the public, depositors, and stakeholders that the Nigerian banking sector remains resilient, safe, and sound,” the statement read. She noted that the financial institutions regulated by the CBN are held to stringent regulatory standards, ensuring the safety of depositors’ funds.
The CBN affirmed its commitment to monitoring all financial institutions under its regulatory oversight. It maintains robust frameworks for early warning signals and risk-based supervision to promptly address any emerging issues and protect the integrity of the financial system.
Mrs. Ali urged the public to disregard sensational and unverified claims, advising them to rely solely on official channels for accurate information about the financial system.
The CBN remains dedicated to creating a secure banking environment, ensuring that depositors maintain full confidence in the safety of their funds. The bank has pledged to continue monitoring and adapting strategies to protect the financial interests of all Nigerians and stakeholders in the financial system.
