BY NKECHI NAECHE-ESEZOBOR—–The Central Bank of Nigeria, CBN, on Monday debunked rumors suggesting distress in a regulated financial institution, describing the claims as misleading and capable of triggering unnecessary panic in the financial system.
According to statement signed by the Acting Director of Corporate Communications, Hakama Sidi-Ali, the apex bank assured Nigerians that the country’s banking sector remains “resilient, safe, and sound.”
The statement thus reads: “The attention of the Central Bank of Nigeria (CBN) has been drawn to certain publications and social media reports containing misleading information regarding the operations of a regulated financial institution.
“The CBN wishes to categorically reassure the public, depositors, and stakeholders that the Nigerian banking sector remains resilient, safe, and sound. Like all other regulated institutions, the institution referenced in these reports is held to stringent regulatory requirements, and there is no cause for concern regarding the safety of depositors’ funds.
“The Bank affirms that it continues to monitor all financial institutions under its regulatory purview and maintains robust frameworks for early warning signals and risk-based supervision. These mechanisms ensure that any emerging issues are promptly addressed. to protect the integrity of the financial system.
“We urge the public to disregard sensational or unverified claims and rely solely on official channels for information about the financial system.”
The statement added that the apex bank remains dedicated to fostering a secure banking environment where depositors can be fully confident in the safety of their funds. It will continue to monitor and adapt strategies to safeguard the financial interests of all Nigerians and stakeholders in our financial
system.
