Your funds are safe, CBN assures Nigerians


The Central Bank of Nigeria (CBN) has assured depositors that their assets in the nation’s financial institutions are safe.

Apparently reacting to recent media reports traced to “leaked” information on the ongoing probe of the apex bank by the special investigator, the regulator urged the public to disregard the report which did not emanate from the Bank.

In a statement on Wednesday signed by its Acting Director, Corporate Communications, Hakama Sidi-Ali (Mrs), the CBN reiterated the safety of the nation’s banks and urged depositors to continue their transactions with the CBN-supervised financial institutions.

The statement reads: “The 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.”

There were reports in many news outlets claiming that the special investigator had recommended the take-over of an old and new generation banks for not being properly acquired which their owners have strongly refuted.


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