Nigeria’s banking sector stable, CBN reassures Nigerians

The Central Bank of Nigeria (CBN) has reassured the public, depositors, and stakeholders that the Nigerian banking sector remains resilient, safe, and sound.

The CBN said this in a statement issued by its Acting Director, Corporate Communications Department, Mrs Hakama Sidi-Ali

According to Sidi-Ali, the attention of the CBN has been drawn to certain publications and social media reports containing misleading information regarding the operations of a regulated financial institution.

“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,” she said.
.
She said that the apex bank would continue to monitor all financial institutions under its regulatory purview and maintain 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.

“We urge the public to disregard sensational or unverified claims and rely solely on official channels for information about the financial system,” Sidi-Ali said.
.
She said that the CBN remained dedicated to fostering a secure banking environment where depositors could 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,” she said. (NAN) (www.nannews.ng)