CIBN disabuses minds of public on alleged plan to close some deposit money banks

The Chartered Institute of Bankers of Nigeria would like to reassure the general public that the banking industry in Nigeria remains very sound and safe. The soundness of the banking industry has been reaffirmed severally by the Central Bank of Nigeria (CBN), which is the only body best suited to assess the health of the financial industry in Nigeria.

“In view of this, the Apex Bank has debunked the insinuation that it plans to shut down some deposit money banks.

“We equally like to allay the fears around the shortage of materials for printing the new naira notes, which the CBN has also discredited.

“This has also been debunked in a widely circulated press release by the Nigeria Security Printing and Minting (NSPM) Company, which described the story as false, baseless and misleading. NSPM assured that it “has made adequate arrangement to continuously produce redesigned naira notes as well as other denominations.”

“Consequently, we implore the public to disregard any contrary information as the entire banking community remains focused, committed, and working round the clock to address all the contending issues with a view to restoring normalcy.

“We indeed appreciate your continued patience and understanding as we work together towards building the Nigeria of our dream,” the institute said.