The Central Bank of Nigeria (CBN) has provided reassurance to depositors and customers of Nigerian banks regarding the safety of their funds. Hakama Sidi-Ali, the Acting Director of the CBN’s Corporate Communications Department, conveyed this assurance in a statement on Wednesday.
Mrs. Sidi-Ali stated that the guarantee stemmed from concerns raised by suggestions for the federal government to assume control of certain CBN-regulated financial institutions.
There have been unconfirmed reports from various media sources regarding purported plans by the CBN to take control of Titan Trust Bank (formerly Union Bank) and Keystone Bank. These reports are purportedly associated with claims made by Jim Obazee, CBN’s special investigator, suggesting that the former governor of the bank, Godwin Emefiele, utilized proxies to acquire the two financial institutions.
“For the avoidance of doubt, Nigerian banks remain safe and sound.
“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.
“The CBN is fully equipped to carry out its statutory duty of upholding a stable financial system in Nigeria.
“We assure the general public and depositors about the safety of their funds in Nigerian financial institutions,” she said.
She recommended that bank customers continue with their regular banking activities without worry or apprehension.
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