Nigerian Banks Remain Safe, Sound -CBN Assures

The Central Bank of Nigeria (CBN) has assured Depositors of the Safety of their funds, stating that the nation’s banks remain safe and sound.

CBN also assured that it is fully equipped to carry out its statutory duty of upholding a stable financial system in Nigeria.

The apex bank’s Ag. Director, Corporate Communications, Mrs. Sidi-Ali, Hakama in a statement on Wednesday said, the assurance was necessary because of the reports, in certain media outlets, about a recommendation for the Federal Government to take over some CBN-supervised financial institutions.

She noted that the reports did not emanate from the CBN, therefore, encouraged the public to continue their regular activities without being alarmed by such reports.

She said, “for the avoidance of doubt, Nigerian banks remain safe and sound. The CBN encourages the public to continue their regular activities without being alarmed by reports that have not emanated from the CBN about the health status of Nigerian banks.

“The CBN is fully equipped to carry out its statutory duty of upholding a stable financial system in Nigeria. We assure the general public and depositors about the safety of their funds in Nigerian financial institutions.

“Bank customers are therefore advised to proceed with their banking transactions as usual, as there is no cause for concern”, she emphasised.

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