Central Bank of Nigeria (CBN) has once again reaffirmed the resilience and stability of the country’s banking sector, describing it as safe and sound.
In a statement released by Mrs. Hakama Sidi Ali, acting director of Corporate Communications, the apex bank said it continuously monitors all financial institutions under its regulatory purview and operates robust frameworks for early warning signals and risk-based supervision.
The statement followed the unauthorized circulation of media reports raising concerns over the operations of a regulated financial institution.
“The attention of the Central Bank of Nigeria (CBN) has been drawn to certain publications and social media reports containing misleading information regarding the operations of a regulated financial institution,” the statement said.
“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 apex bank reiterated its commitment to promptly address any emerging issues in the sector to preserve the integrity of the financial system.
“These mechanisms ensure that any emerging issues are promptly addressed to protect the integrity of the financial system. We urge the public to disregard sensational or unverified claims and rely solely on official channels for information about the financial system,” it stated.
The CBN further assured that it remains committed to maintaining a secure banking environment, safeguarding depositors’ funds, and protecting the financial interests of Nigerians and stakeholders.
