Central Bank of Nigeria Reassures Public on Safety of Funds Amid Speculations

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The Central Bank of Nigeria (CBN) has affirmed the safety of funds in Nigerian banks, reassuring the public about the stability of the country’s banking sector. The CBN emphasized that Nigerian banks remain safe and sound, urging the public to continue their regular banking activities without succumbing to alarm caused by unverified reports. The clarification comes in response to speculations arising from the report by the CBN’s special investigator, Jim Obazee, regarding the alleged use of proxies by the former governor, Godwin Emefiele, to set up two financial institutions. The CBN stated that it is fully equipped to uphold a stable financial system in Nigeria.

Key Points:

  • The CBN reassures the public about the safety of funds in Nigerian banks and emphasizes the stability of the country’s banking sector.
  • The apex bank advises the public to continue their regular banking activities without succumbing to alarm caused by unverified reports not originating from the CBN.
  • The clarification follows speculations arising from the report by the CBN’s special investigator, Jim Obazee, regarding the alleged use of proxies by the former governor, Godwin Emefiele, to set up two financial institutions.
  • The CBN states that Nigerian banks remain safe and sound, and it is fully equipped to carry out its statutory duty of upholding a stable financial system in Nigeria.
  • Bank customers are encouraged to proceed with their banking transactions as usual, as there is no cause for concern.

Source: This Day Live

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