The Central Bank of Nigeria (CBN) has reaffirmed the safety of funds held in Nigerian banks, quelling concerns among depositors and customers. Mrs. Hakama Sidi-Ali, the Acting Director of the CBN’s Corporate Communications Department, addressed apprehensions following reports hinting at potential takeovers of certain financial institutions under CBN supervision.
Sidi-Ali clarified that the assurance stemmed from speculations suggesting the Federal Government might take control of some CBN-regulated banks. Unconfirmed reports surfaced, hinting at the possible takeover of Titan Trust Bank (formerly Union Bank) and Keystone Bank. These reports allegedly linked former CBN governor Mr. Godwin Emefiele to the acquisition through proxies, as detailed by Mr. Jim Obazee, a CBN special investigator.
“To dispel any doubts, Nigerian banks remain secure and stable. The CBN urges the public not to be swayed by unverified reports concerning the health of Nigerian banks that did not originate from the CBN,” Sidi-Ali stated, emphasizing the soundness of the banking sector.
Assuring the public and depositors of the safety of their funds within Nigerian financial institutions, she encouraged customers to continue their banking activities without apprehension, reiterating that there were no legitimate grounds for concern.
She further reassured that the CBN is fully equipped and committed to upholding a robust and stable financial system in Nigeria, urging customers to proceed with their usual banking transactions without any disruption.
