The Central Bank of Nigeria (CBN) has issued a strong affirmation regarding the security of funds within Nigerian banks, underscoring the stability of the nation’s banking sector.
Amid circulating unverified reports, not originating from the CBN, causing concerns about the health of Nigerian banks, the apex bank urged the public to continue their regular banking activities without giving in to alarm.
In a bid to allay fears and reassure the populace, the CBN emphasized its preparedness and capability to effectively fulfill its mandated duty of maintaining a stable financial system within Nigeria.
This affirmation by the CBN comes as a response to the disquiet generated by unverified information and serves to instill confidence in the public regarding the safety and stability of the country’s banking industry.
In a statement issued by the acting Director, Corporate Communications, Hakama Sidi-Ali, on Wednesday, the apex bank said, “The Central Bank of Nigeria (CBN) has noticed reports, in certain media outlets, about a recommendation for the Federal Government to take over some CBN-supervised financial institutions. READ MORE