The Central Bank of Nigeria (CBN) has assured customers that their funds deposited in Nigerian financial institutions are safe and should continue to conduct their businesses.
This assurance followed reports of a purported recommedation for the Federal Government to take over some CBN-supervised financial institutions over illegal acquisition.
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An independent investigator, Jim Obazee, appointed by President Bola Tinubu to investigate activities of the CBN submitted a report to the president last week part of which claimed that two commercial banks were illegally acquired by cronies of the immediate past governor of the apex bank, Mr. Godwin Emefiele.
According to the report, Emefiele used proxies to acquire Union Bank of Nigeria for Titan Trust Bank Limited, as well as Keystone Bank without any evidence of payment, and therefore recommended that the Federal Government should reverse the sale and take over the banks.
The apex bank through a statement released Wednesday morning signed by the Acting Director, Corporate Communications, CBN, Sidi-Ali, Hakama (Mrs), assured that Nigerian banks remain safe and sound and urged the public to continue with their regular activities in the institutions.
According to the statement, the report about the status of Nigerian banks didn’t emanate from the CBN and should be ignored.
The statement reads: “The Central Bank of Nigeria (CBN) 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.
“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,” the statement added.
Victor Ezeja is a passionate journalist with seven years of experience writing on economy, politics and energy. He holds a Master's degree in Mass Communication.
