Press Release
No Bank is in Distress
The attention of the Central Bank of
Nigeria (CBN) has been drawn to a fictitious online publication purporting that
some deposit money banks in Nigeria are “experiencing stress”.
The CBN wishes to state categorically
that:
1. No Nigerian bank
is “experiencing stress”.
2. The story as
published is not only false and baseless but a figment of the writer’s
imaginations.
3. The CBN hereby
assures the banking public that the Nigerian banking system is sound and all
banks are in compliance with both the regulatory and prudential requirements.
4. The Governor, on
November 24, 2015, during the Monetary Policy Committee (MPC) press briefing,
also made it categorically clear that no Nigerian bank is in distress.
5. The CBN therefore
urges all bank customers and the general public to disregard the publication as
it is false, mischievous and aimed at throwing the banking public into unnecessary
panic.
Ibrahim Mu’azu,
Director,
Corporate Communications
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