The Central Bank of Nigeria assures Nigerians that their funds are secure in banks.


The Central Bank of Nigeria has reassured the public that funds deposited in banks are secure, emphasizing the robustness of the country’s banking sector to provide optimal service.

In response to unverified reports circulating, not originating from the CBN, regarding the health status of Nigerian banks, the apex bank urged the public to remain confident in their regular banking activities. The CBN asserted its readiness to fulfill its statutory duty of maintaining a stable financial system in Nigeria.

In a statement released by the acting Director, Corporate Communications, Hakama Sidi-Ali, on Wednesday, December 27, the CBN stated:

“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.”

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