The public has been reassured by the Central Bank of Nigeria (CBN) that the country’s banking industry is still robust, safe, and stable.
The top bank denied recent social media rumors regarding a regulated financial institution in a statement issued by Hakama Sidi-Ali, its Acting Director of Corporate Communications.
All regulated banks, including the one listed in the reports, adhere to stringent regulatory criteria, guaranteeing the security of depositors’ money, Sidi-Ali emphasized.
“The CBN wants to firmly reassure stakeholders, depositors, and the general public that the Nigerian banking industry is still strong, secure, and sound,” she stated.
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Through stringent procedures intended to identify early warning indicators and efficiently manage risks, the apex bank underlined its dedication to ongoing oversight of financial institutions.
In order to preserve the integrity of the financial system, she continued, “these mechanisms ensure that any emerging issues are promptly addressed.”
The CBN advised the public to exclusively depend on official sources for updates about the financial sector and to disregard sensational or unconfirmed information.
Sidi-Ali concluded by reiterating the CBN’s commitment to upholding a safe banking environment where depositors may be certain that their money is protected.
She declared, “The CBN will keep an eye on and develop strategies to protect the financial interests of all Nigerians and stakeholders.”
