The Central Bank of Nigeria (CBN) has refuted publications and social media reports containing information regarding the operations of a regulated financial institution, describing such claims as misleading.
While the apex bank urged the public to disregard sensational or unverified claims, the Bank advised on sole reliance on official channels for information about the financial system.
Reassuring the banking public of the stability of the Nigerian banking sector, the CBN on Monday, in a statement categorically reassure the public, depositors, and stakeholders that the Nigerian banking sector remains resilient, safe, and sound.
The apex bank noted that, 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 CBN 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”, the statement signed by the Ag. Director, Corporate Communications, Mrs Hakama Sidi Ali, stated.
The CBN reiterated dedication 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”, the Bank pledges.
