Your Funds Are Safe In Nigerian Banks – CBN Assures Depositors

The Central Bank of Nigeria (CBN) has assured depositors of the safety of their monies in all the Nigerian banks.

Naija News reports that the apex bank said this in a statement released on Wednesday by its acting Director of Corporate Communications, Sidi-Ali Hakama.

The CBN gave the assurance following media reports that the federal government has been asked to take over some financial institutions it supervises.

According to the statement, the CBN said Nigerian banks are safe and sound, adding that depositors and the public can continue their regular banking activities without fear.

The statement reads: “The Central Bank of Nigeria has noticed reports, in some certain media outlets, about a recommendation, for the Federal Government to take over some CBN-supervised financial institutions.

“For the avoidance of doubt, Nigerian banks remain safe and sound. The CBN encourages the public to continue with their regular activities without being alarmed by reports that 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.

“Bank customers are therefore advised to proceed with their banking transactions as usual, as there is no cause for concern.”