CBN Assures Depositors of The Safety of Their Funds in Nigerian Banks

The Central Bank of Nigeria (CBN) has assured depositors of the safety of their funds in Nigerian banks.

The apex bank in a statement issued on Wednesday by its spokesperson, Sidi Ali-Hakama said that banks in the country remain safe and sound.

It advised 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 stated that it is fully equipped to carry out its statutory duty of upholding a stable financial system in Nigeria.,

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The CBN, in its statement, said, “The Central Bank of Nigeria 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.