CBN Assures Nigerians Of Funds Safety In All Banks

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CBN Assures Nigerians Of Funds Safety In Banks

The Central Bank of Nigeria has officially reassured the public about the security of funds held in Nigerian banks, underscoring the robust stability of the nation’s banking sector.

This was made known in a statement issued by the acting, Director, Corporate Communications, Sidi-Ali Hakama via its X handle on Wednesday, December 27.

The statement reads: “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, Nigerian banks remain safe and sound. 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.

“Bank customers are therefore advised to proceed with their banking transactions as usual, as there is no cause for concern.”

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By Abia ThinkTank

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