The attention of the Central Bank of Nigeria (CBN) has been drawn to certain publications
and social media reports containing misleading information regarding the operations of a
regulated financial institution.
The CBN wishes to categorically reassure the public, depositors, and stakeholders that the
Nigerian banking sector remains resilient, safe, and sound. Like all other regulated
institutions, the institution referenced in these reports is held to stringent regulatory
requirements, and there is no cause for concern regarding the safety of depositors’ funds.
The Bank affirms that it continues to monitor all financial institutions under its regulatory
purview and maintains robust frameworks for early warning signals and risk-based
supervision. These mechanisms ensure that any emerging issues are promptly addressed
to protect the integrity of the financial system.
We urge the public to disregard sensational or unverified claims and rely solely on official
channels for information about the financial system.
The CBN remains dedicated to fostering a secure banking environment where depositors
can be fully confident in the safety of their funds. It will continue to monitor and adapt
strategies to safeguard the financial interests of all Nigerians and stakeholders in our financial
system.
Hakama Sidi Ali (Mrs.)
Ag. Director, Corporate Communications
CBN Reassures Public on Banking Sector Stability
