• Home
  • Business
  • Nigeria: CBN assures depositors secured funds in banks
Image

Nigeria: CBN assures depositors secured funds in banks

The Central Bank of Nigeria (CBN) has provided assurance to depositors and customers of Nigerian banks regarding the safety of their funds.

The affirmation was conveyed in a statement by Hakama Sidi-Ali, the Acting Director of the Corporate Communications Department at the CBN.

Mrs. Sidi-Ali explained that the assurance stemmed from reports suggesting a recommendation for the federal government to take control of certain financial institutions supervised by the CBN.

Unconfirmed reports from various media outlets, including the News Agency of Nigeria (NAN), suggest plans by the CBN to potentially take control of Titan Trust Bank (formerly Union Bank) and Keystone Bank.

Allegedly, this is connected to a report by Jim Obazee, CBN’s special investigator, claiming 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 encouraged bank customers to carry on with their usual banking transactions, emphasizing that there was no reason for concern.

source: premiumtimesng.com

Related Posts

Ghana: Stanbic team holds discussions with Chinese Ambassador on Ghana China trade

The Chief Executive of Stanbic Bank Ghana, Kwamina Asomaning, along with several Senior Executives of the bank, convened…

Kenya: Jubilee Insurance FY 2023 net profit jumps 29% to Ksh. 439 million

Jubilee Health Insurance has announced a notable achievement, reporting a profit after tax of Ksh. 438 million for…

Titilayo Yetunde Olusanya adjudged Woman CFO of the Year for Public Sector

Mrs. Titilayo Yetunde Olusanya, Director of Finance Management and Control at the National Information Technology Development Agency (NITDA),…

Ghana: Guinness Breweries PLC introduces Learning for Life Program to promote inclusion

In collaboration with the Youth Employment Agency, the Ghana Tourism Authority, and the Diageo Bar Academy, Guinness Ghana…