Finance

Your funds are safe in banks, CBN assures depositors

Your funds are safe in banks, CBN assures depositors

The Central Bank of Nigeria, CBN, has assured banks customers that their funds are safe in the banks.
This assurance came on the back of some media reports hinting about a recommendation for the Federal Government to take over some CBN-supervised financial institutions.

CBN, in a press statement yesterday signed by its Acting Director, Corporate Communication, Mrs. Sidi-Ali Hakama, said: “The CBN has noticed reports, in certain media outlets, about a recommendation for the Federal Government to take over some CBN-supervised financial institutions.

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“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.

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“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.”

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