The Central Bank of Nigeria (CBN) has responded to recent reports circulating in certain media outlets suggesting a recommendation for the Federal Government to take over some CBN-supervised financial institutions. In a statement released today, the CBN emphasized that Nigerian banks remain secure and stable.

In light of these reports, the CBN urges the public not to be alarmed and to continue their regular activities without any concerns about the health status of Nigerian banks. The central bank reassures the general public and depositors that their funds in Nigerian financial institutions are safe. Bank customers are advised to proceed with their banking transactions as usual, as there is no cause for concern.

The CBN remains fully committed to upholding a stable financial system in Nigeria and is well-equipped to carry out its statutory duties.