Nigerian Banks Are Still Very Safe- CBN

Godwin Emefiele

The Central Bank of Nigeria has stated that Banks and other financial institutions under its supervision are still very safe.

The Acting Director, Corporate Communications Department of the Bank, Osita Nwanisobi, said this in Abuja ahead of the Monetary Policy Committee meeting on Monday and Tuesday.

According to a statement, the Nigerian banking system has proved to stand despite the global challenges posed by the coronavirus pandemic, in response to certain false and unfounded stories circulating in the social media attacking the soundness and safety of some Nigerian banks.

Nwanisobi said the CBN continued to monitor the activities of banks in order to ensure that no individual or institution breached the laid down guidelines.

He also went on further to urge members of the banking public to take advantage of the services provided by the banks, particularly the intervention programmes initiated by the CBN, to enhance their economic status and contribute to overall national development.

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