CBN Refutes Bank Licenses Revocation Claims
By Patience Ikpeme
The Central Bank of Nigeria has come out to refute claims of revoking the operating licences of Polaris, Fidelity, Wema and Unity Banks .
This was disclosed in a statement issued by the CBN,assuring Nigerians of the safety of the deposits and resilience of the banking system .
Speaking to this effect, the Bank’s Acting Director of Corporate Communications Department, Mrs Hakama Sidi Ali, on Monday, June 10, 2024, in Abuja, faulted claims that the CBN was considering revoking the operating licences of Fidelity, Polaris, Wema, and Unity Banks.
Hakama pointed out the fact that a circular issued by the Bank on January 10, 2024, notifying the public about the dissolution of the Boards of Union, Keystone, and Polaris Banks, is currently being circulated as though it was issued on June 10, 2024.
The CBN spokesperson emphasized that ‘allegations of further revocation of licences prior to the completion of the bank recapitalisation exercise were mere fabrications aimed at creating panic within the system”.
She urged Nigerians especially customers of the defunct Heritage bank not to worry about their deposits as the Nigerian Deposit Insurance Corporation(NDIC) has already commenced payment to the banks insured depositors.
“Without prejudice to the ongoing recapitalisation process, I want to restate that the Nigerian banking industry remains resilient. Key financial soundness indicators remain within current regulatory thresholds” She noted .
Hakama further gave the assurance that “Customers are, therefore, encouraged to proceed with their transactions as usual, as the CBN is committed to ensuring the safety of the banking system,” she added.
She further noted that the process will be for the overall growth of Nigerian economy, therefore calling on all stakeholders involved to work together towards achieving that .
