James Emejo in Abuja
The Central Bank of Nigeria (CBN) yesterday reiterated the resilience, safety, and soundness of Nigerian Deposit Money Banks (DMBs) as well as the other financial institutions under its supervision.
The assurance came against the backdrop of “false and unfounded stories circulating in the social media attacking the soundness and safety of some Nigerian banks”.
However, the CBN’s acting Director, Corporate Communications Department, Mr. Osita Nwanisobi, told journalists that the banking system had proven to be sturdy, despite the global challenges posed by the COVID-19 pandemic.
He said routine bank examinations and stress tests for financial institutions operating in the country indicated that no bank licensed by the CBN is currently under any form of financial distress.
Panic withdrawal: CBN debunks distress alert on Zenith Bank
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CBN says all Nigerian banks are safe
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