The Central Bank of Nigeria (CBN) has issued a statement to reassure the public, depositors, and stakeholders about the stability and safety of the Nigerian banking sector.

This move comes in response to certain publications and social media reports containing misleading information regarding the operations of a regulated financial institution.

According to s statement signed by Hakama Sidi Ali (Mrs.) Ag. Director, Corporate Communications Central Bank of Nigeria “The Nigerian banking sector remains resilient, safe, and sound. All regulated institutions, including the one referenced in the reports, are held to stringent regulatory requirements”.

There is no cause for concern regarding the safety of depositors’ funds. The CBN continues to monitor all financial institutions and maintains robust frameworks for early warning signals and risk-based supervision.

The public is urged to disregard sensational or unverified claims and rely solely on official channels for information about the financial system.

The statement added that  “The CBN remains dedicated to fostering a secure banking environment where depositors can be fully confident in the safety of their funds. It will continue to monitor and adapt strategies to safeguard the financial interests of all Nigerians and stakeholders in our financial system.”