Banks are Healthy, Safe – CBN Urges Nigerians to Ignore Takeover Rumours

The Central Bank of Nigeria (CBN) has denied reports, in certain media outlets (not Economic Confidential), about a recommendation for the Federal Government to take over some CBN-supervised financial institutions.

The apex bank in a statement by its spokesperson, Hakama Sidi-Ali, reiterated that 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,” the statement read in part.

The CBN therefore advised bank customers to proceed with their banking transactions as usual, “as there is no cause for concern.”