The Central Bank of Nigeria (CBN) has provided reassurance to the banking public, affirming that Nigerian banks are robust and financially sound.
The statement, delivered by the Acting Director of Corporate Communications, Hakama Sidi Ali, came in response to media reports indicating that certain Deposit Money Banks had not met the apex bank’s Capital Adequacy Ratio (CAR) requirements for international authorization, as reported by NAN.
“We wish to clarify that the Nigerian banking industry remains resilient as key financial soundness indicators were within the regulatory threshold as captured in the CBN economic report of 2023.
“Furthermore, the CBN is engaging with various critical stakeholders to sustain the level of confidence in the Nigerian financial sector.
“We, therefore, appeal to Nigerians to disregard media reports listing banks as failing the CAR stress test for international authorisation as the report did not emanate from the CBN,’’ she said.