CBN speaks on reported move by FG to take over some banks

The Central Bank of Nigeria has reacted to reports that the Federal Government was planning to take over some banks under its supervision.

This was contained in a statement by the CBN’s Acting Director of Corporate Communications, Hakama Sidi-Ali.

In the statement on Tuesday, the CBN said: “The Central Bank of Nigeria 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. 

Also Read:

• CBN appoints record female senior employees
• Atiku denies receiving funds from Sanwo-Olu during 2023 election
• Why I kidnapped Kaduna Catholic priest – Suspect
• Cerebrospinal Meningitis kills three in Gombe
• Reps to probe ₦8t annual loss to tax waiver abuse

“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.”