Your money is safe in banks – CBN tells Nigerians

Your money is safe in banks - CBN tells Nigerians

The Central Bank of Nigeria has assured Nigerians that funds placed in banks are secure, saying the country’s banking sector is well placed for optimal service.

The apex bank advised the public to continue with their regular banking activities without succumbing to the alarm caused by unverified reports not originating from the CBN concerning the health status of Nigerian banks.


The CBN stated that it is fully equipped to carry out its statutory duty of upholding a stable financial system in Nigeria.


In a statement issued by the acting Director, Corporate Communications, Hakama Sidi-Ali, on Wednesday, December 27, the apex bank said, 

“The Central Bank of Nigeria (CBN) has noticed reports, in 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 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.


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

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