The Central Bank of Nigeria (CBN) has reassured the public, depositors, and stakeholders that the nation’s banking sector remains resilient, safe, and sound. This assurance was contained in a statement issued on Monday by the Acting Director of Corporate Communications, Mrs. Hakama Sidi-Ali, in response to recent media reports and social media commentary that raised concerns about 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,” Sidi-Ali stated.
She emphasized that the financial institution referenced in the reports operates under strict regulatory oversight, and there is no threat to the safety of depositors’ funds.
“As with all licensed banks, the institution in question is subject to rigorous supervisory standards. There is no cause for alarm,” she said.
Sidi-Ali reiterated the apex bank’s commitment to proactive oversight of all financial institutions under its regulation, noting that the CBN employs robust frameworks for early warning signals and risk-based supervision to promptly address potential vulnerabilities.
“These mechanisms ensure the ongoing integrity and stability of the financial system,” she added.
The CBN urged Nigerians to disregard unverified or sensational information and instead rely on official sources for accurate updates about the financial sector.
“The CBN remains fully committed to fostering a secure and trustworthy banking environment, ensuring that the funds of all depositors are safe,” Sidi-Ali said.
She also noted that the bank will continue adapting its strategies to safeguard the financial interests of Nigerians and support the broader stability of the economy.
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