The Central Bank of Nigeria (CBN) has reassured the public that the Nigerian banking sector remains resilient, safe, and sound. This assurance comes in response to misleading reports on social media regarding a regulated financial institution.

The CBN in a release byAg. Director, Corporate Communications, CBN, Mrs. Hakama Sidi Ali.  explained that 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.

The CBN maintains robust frameworks for early warning signals and risk-based supervision, ensuring that any emerging issues are promptly addressed to protect the integrity of the financial system. The public is urged to disregard sensational or unverified claims and rely solely on official channels for information about the financial system.