The Central Bank of Nigeria (CBN) has moved to dispel growing concerns fueled by recent media reports and social media speculation regarding the operations of a regulated financial institution, affirming that the country’s banking sector remains stable, secure, and resilient.
In an official statement released by Mrs. Hakama Sidi Ali, Acting Director of Corporate Communications, the apex bank emphasized that all deposit-taking institutions under its supervision, including the one referenced in the circulating reports, are subject to strict regulatory oversight and continue to meet the required safety standards.
"The Nigerian banking sector remains resilient, safe, and sound," the CBN declared, urging the public to disregard unverified and sensational claims and to rely exclusively on official communications from the Bank.
The CBN reiterated its commitment to monitoring financial institutions through robust risk-based supervision frameworks and early warning systems. These mechanisms, the Bank noted, are designed to quickly detect and address any potential issues before they escalate.
"We continue to maintain solid structures that guarantee the safety of depositors' funds and the stability of the financial system," the statement read.
Assuring depositors and stakeholders, the CBN stressed that it will remain steadfast in its mandate to protect the financial system and enhance public confidence in the banking sector. The Bank further pledged to continue evolving its strategies to safeguard the financial interests of Nigerians.
The reassurance comes as part of the CBN’s broader effort to combat misinformation and maintain public trust in the face of unfounded speculation.
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