The Central Bank of Nigeria (CBN) has moved to calm public fears about the safety of the country’s banking sector, following the circulation of misleading reports on social media. In a statement released by Mrs. Hakama Sidi, the director of corporate communications, the CBN described these reports as false and urged Nigerians to disregard them.
The apex bank emphasized that the Nigerian banking system remains strong, resilient, and secure. It stated that all regulated financial institutions, including the one referenced in the reports, are subject to strict regulatory requirements, ensuring that depositors’ funds are not at risk.
To further strengthen public trust, the CBN highlighted its proactive regulatory approach. It noted that the institution employs a combination of early warning systems and risk-based supervision to quickly detect and respond to any threats that could affect financial stability.
Additionally, the CBN assured that mechanisms are in place to swiftly manage and resolve any emerging issues, maintaining the integrity and security of the financial ecosystem. The bank emphasized that these systems are constantly reviewed and updated to align with global best practices.
In conclusion, the CBN called on Nigerians to rely only on official communication channels for accurate updates about the financial system. It reaffirmed its commitment to protecting depositors and ensuring a stable, secure banking environment for all stakeholders.
Source: Leadership