CBN Reassures Nigerians on Banking Sector Stability
By Nasir Dambatta
The Central Bank of Nigeria (CBN) has moved swiftly to allay fears over the stability of the nation’s banking sector following what it described as “misleading information” circulating in certain publications and social media platforms.
In a statement issued on Monday by the Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, the apex bank categorically reassured the public, depositors, and stakeholders that the Nigerian banking system remains “resilient, safe, and sound.”
The CBN clarified that the institution referenced in recent reports is fully compliant with stringent regulatory requirements, and there is no threat to the safety of depositors’ funds.
“The Bank continues to monitor all financial institutions under its regulatory purview and maintains robust frameworks for early warning signals and risk-based supervision,” the statement read. “These mechanisms ensure that any emerging issues are promptly addressed to protect the integrity of the financial system.”
The CBN urged Nigerians to disregard sensational or unverified claims and rely solely on official communication channels for updates on the financial system.
Reaffirming its commitment to financial stability, the CBN said it remains dedicated to fostering a secure banking environment where Nigerians can have full confidence in the safety of their funds.
The reassurance comes at a time of heightened public sensitivity to financial misinformation, with the apex bank doubling down on efforts to protect the sector from panic and speculation.
