The Central Bank of Nigeria (CBN) has assured Nigerians that all deposits in financial institutions across the country remain secure, urging the public not to panic.
In a statement released on Tuesday by the Acting Director of Corporate Communications, Hakama Ali, the CBN reiterated its commitment to maintaining the stability and integrity of the financial system, despite recent concerns.
This statement follows a wave of rumors on Monday suggesting that the CBN had revoked the licenses of certain banks, prompting calls for depositors to withdraw their funds immediately.
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“The CBN ensures that all banks comply with regulatory guidelines and best practices. Regular stress tests and risk assessments are conducted to detect any potential weaknesses in the system,” the statement read.
Ali highlighted the CBN’s implementation of Early Warning Systems to proactively address emerging risks and its Memoranda of Understanding with foreign regulators to ensure the safety of Nigerian banks’ international subsidiaries.
“The CBN remains focused on creating a secure financial environment for all stakeholders and will continue adapting its strategies to protect the financial interests of depositors,” the statement concluded.
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