CBN assures Nigerians commercial banks remain robust, buoyant

Iheoma Ihedigbo

Central Bank of Nigeria (CBN), has assured Nigerians that the country commercial banks remain robust and buoyant.

In a statement made available to The Mirror, signed the  Acting Director, Corporate Communications, CBN,  Hakama Sidi Ali, said that reports in sections of the Nigerian media that some Deposit Money Banks had failed the apex bank’s Capital Adequacy Ratio (CAR) for international authorization don’t emanated from the apex bank.

“We wish to clarify that the Nigerian banking industry remains resilient as key financial soundness indicators were within the regulatory threshold as captured in the CBN economic report of 2023.

“Furthermore, the CBN is engaging with various critical stakeholders to sustain the level of confidence in the Nigerian financial sector.

“We, therefore, appeal to Nigerians to disregard media reports listing banks as failing the CAR stress test for international authorisation as the report did not emanate from the CBN,’’ she said.