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The Central Bank of Nigeria (CBN) has reassured the public about the safety of funds in Nigerian banks and emphasized the stability of the country's banking sector.
The apex bank issued a statement through its acting Director of Corporate Communications, Hakama Sidi-Ali, on Wednesday, urging the public to continue their regular banking activities without succumbing to alarm caused by unverified reports not originating from the CBN.
According to the statement, the CBN has observed reports suggesting a recommendation for the Federal Government to take over certain CBN-supervised financial institutions. In response, the CBN emphatically declared that Nigerian banks remain safe and sound.
The CBN encouraged the public to dismiss reports not emanating from the CBN regarding the health status of Nigerian banks. It asserted its full capacity to fulfill its statutory duty of maintaining a stable financial system in Nigeria.
The statement read, "We assure the general public and depositors about the safety of their funds in Nigerian financial institutions. Bank customers are therefore advised to proceed with their banking transactions as usual, as there is no cause for concern."
The need for this clarification arose following a report by the CBN's special investigator, Jim Obazee, which alleged that the former governor of the apex bank, Godwin Emefiele, used proxies to establish two financial institutions. The report fueled speculations that the CBN might take over Titan Trust Bank (formerly Union Bank) and Keystone Bank.
It is essential to note that the CBN, through this official statement, aims to quell any undue concerns and maintain public confidence in the stability and safety of the Nigerian banking sector.
