Nigerians should not be alarmed, as the Central Bank of Nigeria (CBN) has implemented measures to guarantee the security of all funds in financial institutions nationwide.
A statement by the apex bank’s AG. Director, Corporate Communications, Hakama Ali, on Tuesday reassured the public of its unwavering commitment to ensuring the stability and reliability of the Nigerian financial system.
The development comes following a fresh uproar across the country on Monday, warning customers of certain banks to immediately withdraw their deposits, as the CBN withdrew their licenses of those banks.
“To maintain the integrity of our financial system, the CBN actively ensures that banks adhere to established regulations and best practices,” the statement read. To help make sure that our financial institutions are resilient, regular stress tests are carried out to find any weaknesses.
Furthermore, the CBN has put in place Early Warning Systems that proactively identify and manage new risks, enabling us to promptly handle any difficulties that are anticipated.
