The Chartered Institute of Bankers of Nigeria (CIBN) has reassured the public that the Nigerian banking system is safe, sound, and resilient, despite false information circulating about the revocation of more bank licenses. The CIBN urged the public to ignore the misleading information and continue their banking activities without fear, as the Central Bank of Nigeria (CBN) has also debunked the claim.
The Institute emphasized that the Nigerian banking system is built on strong foundations, with rigorous regulatory frameworks and supervision to safeguard stakeholders’ interests and maintain financial system stability. The banking sector is implementing a recapitalization program to enhance their capital base and withstand economic shocks.
The CIBN, working with regulators and stakeholders, is committed to promoting best practices and ensuring a resilient and sound banking sector. The public is urged to remain calm and confident in the strength of the banking system.
