All Nigerian Banks are safe, Secure, Stable- CBN
The Central Bank of Nigeria (CBN) has said that all Nigerian Banks are safe, secure and stable.
The reassurance has become necessary as the apex bank’s attention has been drawn to certain publications
and social media reports containing misleading information regarding the operations of a
regulated financial institution.
This is contained in a statement by the acting Director of Corporate Communications, Hakama Sidi-Ali(Mrs) and made available to Business Africa Digest in Abuja.
“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 affirms that it continues to monitor all financial institutions under its regulatory
purview and maintains robust frameworks for early warning signals and risk-based
supervision.
According to the apex bank, 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.
The CBN remains dedicated to fostering a secure banking environment where depositors
can be fully confident in the safety of their funds. It will continue to monitor and adapt
strategies to safeguard the financial interests of all Nigerians and stakeholders in our financial
system.
