Your money is intact with banks, central bank of nigeria assures depositors

The Central Bank of Nigeria (CBN) has assured depositors and customers of Nigerian banks of the safety of their funds in the banks, just as the authorities advised them(customers) to proceed with their banking transactions as usual, stressing that there was no cause for concern.

Penpushing reports that the Acting Director, Corporate Communications Department of the Central Bank of Nigeria (CBN), Hakama Sidi-Ali, gave the assurance in a statement on Wednesday, explaining that the assurance was informed by reports about a recommendation for the Nigerian government to take over some of the apex bank-supervised financial institutions.

There have been unconfirmed reports by some media outlets about plans by the Central Bank of Nigeria (CBN) to take over Titan Trust Bank (former Union Bank) and Keystone Bank, this is allegedly linked to a report by Jim Obazee, the apex bank special investigator, that former Governor of the bank, Godwin Emefiele, used his proxies to acquire the two 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’, she said.

‘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’, Sidi-Ali added

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