The Central Bank of Nigeria (CBN) reassures that Nigerian banks continue to demonstrate resilience
The Central Bank of Nigeria (CBN) has affirmed the resilience of Nigerian banks.
In a statement today, Mrs. Sidi Ali, Acting Director of the Corporate Communications Department at the CBN, provided this assurance.
She stated, "We wish to clarify that the Nigerian banking industry remains resilient, with key financial soundness indicators within the regulatory thresholds as outlined in the CBN’s most recent Economic Report of 2023. The CBN is actively engaging with various stakeholders to maintain confidence in the Nigerian financial sector. Therefore, we urge Nigerians to dismiss media reports that list banks as failing the Capital Adequacy Ratio (CAR) stress test for international authorization, as such reports did not originate from the Central Bank of Nigeria (CBN).
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