By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
NewsunplugNewsunplugNewsunplug
  • Home
  • News
  • Politics
  • Metro
  • Entertainment
  • Sports
  • Lifestyle
  • Journal
Reading: Your Money Is Safe In Banks, CBN Assures Nigerians
Share
Notification Show More
Font ResizerAa
Font ResizerAa
NewsunplugNewsunplug
  • Home
  • News
  • Politics
  • Metro
  • Entertainment
  • Sports
  • Lifestyle
  • Journal
Search
  • Home
  • News
  • Politics
  • Metro
  • Entertainment
  • Sports
  • Lifestyle
  • Journal
Have an existing account? Sign In
Follow US
Newsunplug > Blog > News > Your Money Is Safe In Banks, CBN Assures Nigerians
News

Your Money Is Safe In Banks, CBN Assures Nigerians

hammed
Last updated: December 27, 2023 9:57 am
hammed Published December 27, 2023
Share
SHARE

The Central Bank of Nigeria has affirmed the safety of funds in Nigerian banks, emphasising the stability of the country’s banking sector.

The apex bank therefore 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, 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.”

The clarification comes after the report by the CBN’s special investigator, Jim Obazee, that the embattled former governor of the apex Bank, Godwin Emefiele, used proxies, to set up two financial institutions.

The report fuelled speculations that the CBN may take over Titan Trust Bank (former Union Bank) and Keystone Bank.

Obazee, appointed special investigator in July 2023, submitted his final report tagged, ‘Report of the Special Investigation on CBN and Related Entities (Chargeable offences) to the Presidency on December 20, 2023.

See CBN statement below,

You Might Also Like

Supreme Court Dismisses APC’s Case Against Mbah’s Victory

‘Reject Wike’s plan to spend N15bn on ‘befitting residence’ for VP Shettima’ – SERAP tells Senate president Akpabio

#EndBadGovernance protest persists in Kaduna State despite curfew (Video)

Appointments in government are skewed on basis of nepotism and mediocrity – Obasanjo

Tribunal Reserves Judgment On Atiku’s Petition

Quick Link

  • My Bookmark
  • Interests
  • Contact Us
  • Blog Index
TAGGED:CBN
Share This Article
Facebook Twitter Email Print
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • Your sins can’t be forgiven even if you join us – APC tells Fubara
  • Seven people killed as severe weather lashes South AfricaSeven people killed as severe weather lashes South Africa
  • Former Chelsea owner, Roman Abramovich breaks three-year silence on being forced to sell the club
  • Sokoto police confirm six k!lled in suspected Eid bomb blast
  • Women didn’t let me rest even when they knew I was married – Charly Boy

Recent Comments

No comments to show.

Categories

  • ES Money
  • U.K News
  • The Escapist
  • Insider
  • Science
  • Technology
  • LifeStyle
  • Marketing

About US

We influence 20 million users and is the number one business and technology news network on the planet.
Quick Link
  • My Bookmark
  • Interests
  • Contact Us
  • Blog Index
Top Categories
  • My Bookmark
  • Interests
  • Contact Us
  • Blog Index

Subscribe US

Subscribe to our newsletter to get our newest articles instantly!

[mc4wp_form]

Top Categories

  • Entertainment

Categories

  • ES Money
  • U.K News
  • The Escapist
  • Insider
  • Science
  • Technology
  • LifeStyle
  • Marketing

About US

We influence 20 million users and is the number one business and technology news network on the planet.
Quick Link
  • My Bookmark
  • Interests
  • Contact Us
  • Blog Index
Top Categories
  • My Bookmark
  • Interests
  • Contact Us
  • Blog Index

Subscribe US

Subscribe to our newsletter to get our newest articles instantly!

[mc4wp_form]
© 2023 Newsunplug | All Rights Reserved.
adbanner
AdBlock Detected
Our site is an advertising supported site. Please whitelist to support our site.
Okay, I'll Whitelist
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?