Amid growing media reportage on the stability of banks and the financial system, the Central Bank of Nigeria (CBN) has, for the umpteenth time, called for calm, assuring that both the money deposit banks and customers’ deposits are safe and secure.
Acting Director, Corporate Communications, CBN, Sidi-Ali, Hakama (Mrs.), gave the assurance in a release issued in the early hours of Wednesday, December 27, 2023.
It is titled, “CBN Assures Depositors Of The Safety Of Their Funds”.
It reads: “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.”
Only last week, the apex bank had issued a warning to deposit money banks and Point of Sales (PoS) operators over alleged hoarding of cash in the country.
A circular signed by Sidi-Ali, alleged a collusion between the banks and PoS merchants disrupting the seamless circulation of the naira notes.
Sidi-Ali urged the public should report cases of unauthorized activities such as hoarding of cash by banks or POS merchants to the CBN in their location or use the portal on released by the apex bank.
