The Central Bank of Nigeria (CBN) has moved to quell concerns arising from recent media reports and social media speculation about the operations of a regulated financial institution, reaffirming that the Nigerian banking sector remains stable, secure, and resilient.
In an official statement issued by the Acting Director of Corporate Communications, Hakama Sidi Ali, the apex bank assured the public that all deposit-taking institutions under its supervision, including the one referenced in recent reports, are operating within required safety standards and remain subject to rigorous regulatory oversight.
“The Nigerian banking sector remains resilient, safe, and sound,” the CBN declared, urging Nigerians to disregard unverified and sensational claims and to rely solely on official information from the Bank.
The CBN reiterated its ongoing commitment to a robust risk-based supervisory framework and early warning systems, which are in place to detect and address potential vulnerabilities within the financial system in a timely manner.
“We continue to maintain solid structures that guarantee the safety of depositors’ funds and the stability of the financial system,” the statement read.
In its reassurance to stakeholders and the general public, the Bank emphasised its dedication to maintaining confidence in the financial sector, pledging to adapt and strengthen its regulatory strategies to protect Nigerians’ financial interests.
