ENUGU, Nigeria (VOICE OF NAIJA)- The Central Bank of Nigeria (CBN) has emphatically affirmed the safety of funds in Nigerian banks, highlighting the robust stability of the country’s banking sector.
In response to unverified reports not originating from the CBN that stirred concerns about the health status of Nigerian banks, the apex bank urges the public to maintain their regular banking activities.
Issuing a statement on Wednesday, the acting Director of Corporate Communications, Hakama Sidi-Ali, stated, “Nigerian banks remain safe and sound.”
The CBN dispels any apprehension caused by reports and assures the public that it is fully equipped to fulfill its statutory duty of upholding a stable financial system in Nigeria.
The statement emphasizes, “Bank customers are advised to proceed with their banking transactions as usual, as there is no cause for concern.
“The Central Bank of Nigeria (CBN) 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, 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.
This reassurance follows recent speculation fueled by a report from CBN’s special investigator, Jim Obazee, suggesting potential takeovers of Titan Trust Bank (former Union Bank) and Keystone Bank.
In his final report submitted to the Presidency on 20 December, 2023, Obazee mentioned alleged involvement of the embattled former Governor of the CBN, Godwin Emefiele, using proxies to set up two financial institutions.
However, the CBN strongly asserts that the safety of funds in Nigerian financial institutions remains intact, urging the public to rely on verified information.