The Central Bank of Nigeria (CBN) has made it clear that it would continue with its statutory function of protecting the integrity of the Nigeria’s financial system at all times.
The Bank stressed that it would continue “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.”
The apex Bank is reacting to what it called “certain publications and social media reports containing misleading information regarding the operations of a regulated financial institution.”
In a statement by the spokesperson, Hakama Sidi Ali, the CBN reassured the public, depositors, and stakeholders that the Nigerian banking sector is still 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 apex Bank asked members of the public to disregard what it called “sensational or unverified claims” and to 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.”
