CBN Reassures Public on Banking Sector Stability

The Central Bank of Nigeria (CBN) has dismissed concerns about financial instability, affirming that the banking sector remains resilient, safe, and sound.

In a statement signed by Hakama Sidi Ali, Acting Director of Corporate Communications, the CBN urged Nigerians to disregard misleading reports and rely on official sources for updates. The apex bank emphasized that stringent regulatory measures are in place to protect depositors’ funds and ensure financial stability.

The CBN also highlighted its risk-based supervision frameworks and early warning systems, which help detect and address potential issues before they escalate. Additionally, the bank reaffirmed its commitment to strengthening the financial system through ongoing recapitalization efforts.