LIVE UPDATES
The Central Bank of Nigeria (CBN) has assured the public, depositors, and stakeholders that the Nigerian banking sector is strong, secure, and stable.
This assurance was conveyed in a statement by the Acting Director of the Corporate Communications Department.Hakama Sidi-Ali.
Sidi-Ali noted that the CBN has become aware of misleading publications and social media reports about the operations of a regulated financial institution.
She emphasized that the CBN is committed to reassuring the public, depositors, and stakeholders that the banking sector remains robust and trustworthy.
"Like other regulated entities, the institution mentioned in these reports is subject to strict regulatory standards, and there is no reason for concern regarding the safety of depositors’ funds," she stated.
Additionally, she mentioned that the apex bank will keep monitoring all financial institutions under its supervision, maintaining strong frameworks for early warning signals and risk-based oversight.
"These systems ensure that any emerging problems are addressed promptly to preserve the integrity of the financial system.
We encourage the public to ignore sensational or unverified reports and to depend only on official channels for information about the financial system," Sidi-Ali asserted.
She reiterated that the CBN is committed to creating a secure banking environment where depositors can have complete confidence in the safety of their funds.
"The bank will continue to monitor and adjust strategies to protect the financial interests of all Nigerians and stakeholders in our financial system," she added.
