Is Your Funds In Banks Safe? CBN Speaks

December 28, 2023

The Central Bank of Nigeria (CBN) is seriously trying to dry-clean the health status of Nigerian banks.

This may not be shocking to Nigerians who experienced situations like this many times before, only that each time, the CBN is economical with the truth.

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Nigerians have been assured of the safety of their funds kept in Nigerian banks.

The Central Bank of Nigeria (CBN) gave this assurance while stressing that banks in the Nigeria remain safe and sound.

This assurance became necessary after alarming reports about the health status of Nigerian banks. The reports were publicised by the media.

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Upon this premise, the CBN has urged the public to continue their regular activities without worrying about the health status of Nigerian banks.

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The CBN stated that it was fully equipped to carry out its statutory duty. It says it will continue to uphold a stable financial system in Nigeria.

Furthermore, in a statement on Wednesday Sidi-Ali, Hakama, the Acting Director of Corporate Communications clarified issues.

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The Bank stated that “the 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.

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“The public can 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.

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“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”.