The Central Bank of Nigeria has given its assurance that funds deposited in banks are secure, emphasizing that the country’s banking sector is well-positioned to provide optimal service.
The apex bank has advised the public to continue their regular banking activities without succumbing to unverified alarmist reports not originating from the CBN regarding the financial health of Nigerian banks.
The CBN emphasized its full capability to fulfill its statutory duty of maintaining a stable financial system in Nigeria.
As per a statement released by the acting Director of Corporate Communications, Hakama Sidi-Ali, on Wednesday, December 27, the apex bank stated,
“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.
“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.”