Mohammed Shosanya
The Nigerian banking system and depositors’ funds are safe, the Central Bank of Nigeria has said.
Sidi Ali Hakama,its Acting Director of Corporate Communications, who disclosed this on Monday during a chat with journalists in Abuja, dismissed claims that the CBN was planning to revoke the operating licences of Fidelity Bank, Polaris Bank, Wema Bank, and Unity Bank.
She assured customers, especially those of Heritage Bank, that their deposits were safe, adding that the Nigeria Deposit Insurance Corporation (NDIC) had commenced payment to the bank’s insured depositors.
She said the CBN’s strong regulatory framework is actively maintaining the stability of Nigeria’s financial system, ensuring the safety of depositors’ funds across all Nigerian financial institutions.
“Key financial soundness indicators remain within current regulatory thresholds,” Hakama said.
“Customers are, therefore, encouraged to proceed with their transactions as usual, as the CBN is committed to ensuring the safety of the banking system.”
According to her,a circular issued by the bank on January 10, informing the public about the dissolution of the boards of Union, Keystone, and Polaris Banks, is being circulated as if it were issued on June 10.
She said Heritage Bank’s situation was isolated and that claims of additional licence revocations before completing the bank recapitalisation process were fabrications intended to incite panic.
She reaffirmed the assurances made by Olayemi Cardoso, the CBN’s governor, regarding the purpose of the recapitalisation of Nigerian banks, which is to strengthen the banking system and protect the sector from risks.
She urged all stakeholders to collaborate to ensure the success of the process, adding that it is for the overall growth of the economy.
“Without prejudice to the ongoing recapitalisation process, I want to restate that the Nigerian banking industry remains resilient,” she said.
She urged the public to continue their regular banking activities without concern, disregarding any false reports concerning the stability of specific deposit money banks.
