Your money is safe — CBN assures depositors, sue for calm

By Sodiq Adelakun

The Central Bank of Nigeria (CBN) has issued a statement reassuring depositors that their funds in banks are secure.

The CBN stated that it has become aware of reports in certain media outlets suggesting that the Federal Government should take control of some financial institutions supervised by the CBN.

The CBN emphasised that Nigerian banks are safe and sound, and encouraged the public to carry on with their normal activities without being alarmed by reports that have not originated from the CBN regarding the health of Nigerian banks.

The statement was signed by the Acting Director of Corporate Communications, Sidi-Ali Hakama, CBN.

“For the avoidance of doubt, Nigerian banks remain safe and sound,” the CBN said in a statement.

The statement encouraged 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.

According to the statement, the apex bank 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,” the statement read