The Chartered Institute of Bankers of Nigeria (CIBN) has reassured bank customers of the stability and security of the Nigerian banking sector. This reassurance came in response to claims that the Central Bank of Nigeria (CBN) was set to revoke more banking licenses following the revocation of Heritage Bank’s license. The CBN refuted these claims, emphasizing the strength and resilience of the financial system.
In a statement, CBN categorically denied the allegations, calling them false and aimed at inciting panic. The apex bank asserted that the financial system remains robust and it will continue to take necessary measures to ensure its stability. Echoing this sentiment, the CIBN emphasized the solidity of the Nigerian banking infrastructure, built on rigorous regulatory frameworks designed to protect stakeholders’ interests and maintain system stability.
The CIBN urged the public to continue their regular banking activities without fear, highlighting that banks are in the process of implementing the CBN’s recapitalization programme, which will further strengthen their capital base. The institute also mentioned its ongoing collaboration with regulators like the CBN and the Nigeria Deposit Insurance Corporation to promote best practices and ensure the sector’s resilience. Additionally, one of the banks mentioned in the rumors has taken legal action against those spreading the false information.
Source: PUNCH