Politics
Depositors’ Funds Secure In Banks, Affirms CBN
Depositors’ Funds Secure In Banks, Affirms CBN....KINDLY READ THE FULL STORY HERE▶
In a recent statement, the Central Bank of Nigeria (CBN) has reassured depositors and customers of Nigerian banks regarding the security of their funds within these financial institutions. The Acting Director of the CBN’s Corporate Communications Department, Hakama Sidi-Ali, conveyed this assurance in response to reports suggesting a federal government recommendation to take over some CBN-supervised financial institutions….CONTINUE READING
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Speculation has circulated, particularly by certain media outlets, hinting at plans for the CBN to take control of Titan Trust Bank (formerly Union Bank) and Keystone Bank. These rumors are allegedly linked to a report by Jim Obazee, a special investigator for the CBN, claiming that the former governor of the bank, Godwin Emefiele, utilized proxies to acquire these two financial institutions.
Mrs. Sidi-Ali emphasized that Nigerian banks remain secure and stable, dispelling any doubts about their financial health. She urged the public to carry on with their regular activities without being unduly alarmed by reports that have not originated from the CBN regarding the well-being of Nigerian banks.
“The CBN is fully equipped to fulfill its statutory duty of maintaining a stable financial system in Nigeria. We assure the general public and depositors about the safety of their funds in Nigerian financial institutions,” she affirmed. Additionally, she advised bank customers to proceed with their banking transactions as usual, emphasizing that there is no cause for concern.
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