Breaking: CBN Gives New Update On Health Status Of Nigerian Banks

The Central Bank of Nigeria, CBN has disclaimed reports of plans to take over some financial institutions on account of alleged concern on the health status of Nigerian banks.

The CBN in a statement early on Wednesday, December 27, 2023 and made available to GWG.ng discredited the reports saying that Nigerian banks remain safe and that it was up to the task in monitoring the viability of and health status of the banks.

In the statement issued by the acting director of Corporate Communications, Mrs Sidi-Ali, Hakama, the CB said:

“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,” the CBN said in its disclaimer of the reports on the alleged poor health of Nigerian banks.