The Central Bank of Nigeria has assured bank customers that their monies deposited in the banks are safe.
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In a press release on Tuesday, the apex bank responded to media reports 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 press release said.
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.
It went further to say that the CBN is fully equipped to carry out its statutory duty of upholding a stable financial system in Nigeria. It assured 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.”
Financial institutions under the supervisory purview of the CBN are the deposit money banks, the discount houses, primary mortgage institutions, community banks, finance companies, bureaux-de-change and development finance institutions.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
