Obazee Report: CBN Assures Public of Strong Banking System
By Patience Ikpeme
The Central Bank of Nigeria (CBN) has issued a rebuttal to recent media reports suggesting a potential government takeover of Union Bank, Keystone Bank and Titan Trust Bank, all CBN-supervised financial institutions.
In a statement signed by Ag. Director Corporate Communications, Mrs. Hakama Sidi-Ali, the CBN categorically denied these claims and emphasized the stability and safety of Nigerian banks.
The statement stressed that these reports “have not emanated from the CBN” and urged the public to “avoid being alarmed” by unverified information. It reiterated the CBN’s full commitment to its statutory duty of maintaining a robust and stable financial system in Nigeria.
“We assure the general public and depositors about the safety of their funds in Nigerian financial institutions,” the statement declared. The CBN encouraged all bank customers to “proceed with their banking transactions as usual,” as there is no reason for concern.
The statement reads: “Central Bank of Nigeria (CBN) has noticed reports, in certain media outlets, about a recommendation for the Federal Government to take over some CBN-supervised financial institutions”.
“For the avoidance of doubt, Nigerian banks remain safe and sound. The CBN encourages the public to continue their regular activities without being alarmed by reports that have not emanated from the CBN about the health status of Nigerian banks”.
“The CBN is fully equipped to carry out its statutory duty of upholding a stable financial system in Nigeria. We assure the general public and depositors about the safety of their funds in Nigerian financial institutions”.
“Bank customers are therefore advised to proceed with their banking transactions as usual, as there is no cause for concern”.
This communication from the CBN serves as a vital reassurance amidst circulating rumors that could potentially trigger anxiety and destabilize the financial sector. The CBN’s prompt and direct response aims to quell any misconceptions and maintain public confidence in the banking system.
