The Central Bank of Nigeria (CBN) reassured the public that Nigerian banks remain resilient, dismissing media reports suggesting otherwise.
Mrs. Sidi Ali, the Acting Director of the Corporate Communications Department at the CBN, issued the assurance today.
The statement addressed reports circulating in the media, claiming that certain licensed commercial banks in Nigeria had failed the CBN’s Capital Adequacy Ratio (CAR) for international authorization.
Mrs. Ali clarified that the Nigerian banking industry demonstrates resilience, with key financial soundness indicators remaining within the regulatory thresholds, as outlined in the CBN’s most recent Economic Report of 2023.
The CBN is actively engaging with various critical stakeholders to maintain confidence in the Nigerian financial sector. Mrs.
Ali urged Nigerians to disregard the media reports that listed banks as failing the CAR stress test for international authorization, emphasizing that such reports did not originate from the Central Bank of Nigeria.
