From Adanna Nnamani, Abuja
The Central Bank of Nigeria (CBN) has assured the public that the country’s banking sector remains stable and resilient despite recent reports suggesting otherwise.
In a statement issued by its Acting Director of Corporate Communications, Hakama Ali on Monday, the apex bank responded to what it described as “misleading information” circulating in certain publications and social media platforms regarding the operations of a regulated financial institution.
The Bank reaffirmed its commitment to monitoring all financial institutions under its supervision through robust frameworks, including early warning systems and risk-based oversight, to promptly identify and address any emerging issues.
It urged members of the public to disregard sensational or unverified claims and to rely on official channels for accurate information about the financial system.
“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.
“The Bank affirms that it continues to monitor all financial institutions under its regulatory purview and maintains 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.
“The CBN remains dedicated to fostering a secure banking environment where depositors can 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,” the statement read.
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