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The public has been reassured by the Central Bank of Nigeria (CBN) that the country’s banking industry is still robust, safe, and steady.
The top bank denied recent social media rumors regarding a regulated financial institution in a statement issued by Hakama Sidi-Ali, its Acting Director of Corporate Communications.
In order to protect depositors’ money, Sidi-Ali emphasized that all licensed banks, including the one listed in the reports, adhere to stringent regulatory criteria.
According to her, “the CBN wishes to categorically reassure the public, depositors, and stakeholders that the Nigerian banking sector remains resilient, safe, and sound.”
With strict standards intended to identify early warning indicators and efficiently manage risks, the top bank underlined its dedication to ongoing supervision of financial institutions.
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“These procedures guarantee that any new problems are dealt with quickly to preserve the integrity of the financial system,” she continued.
For updates about the financial sector, the CBN advised the public to only trust official sources and to disregard sensational or unconfirmed information.
In closing, Sidi-Ali emphasized the CBN’s commitment to upholding a safe banking environment where depositors may rest certain that their money is protected.
She stated, “The CBN will keep an eye on and develop strategies to protect the financial interests of all Nigerians and stakeholders.”
