• Thursday, February 22, 2024
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BusinessDay

‘Your money is safe’-CBN tells depositors

CBN will not pay invalid FX backlog – Cardoso

The Central Bank of Nigeria (CBN) has assured depositors that their funds in the banks are safe. The Central Bank said it has noticed reports in certain media outlets about recommending the Federal Government take over some CBN-supervised financial institutions.

“For the avoidance of doubt, Nigerian banks remain safe and sound,” the CBN said in a statement signed by Sidi-Ali Hakama, acting director of corporate communications.

The statement encouraged 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.

According to the statement, the apex bank 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 reads.