Nigerian banks are thriving, the Central Bank of Nigeria (CBN) has reassured the financial community.
This was said by the CBN in a statement released by Hakama Sidi Ali, its acting director of corporate communications.
According to reports, claims in some Nigerian media outlets regarding certain Deposit Money Banks failing the apex bank’s Capital Adequacy Ratio (CAR) for foreign authorization were the source of Ali’s comments.
We would want to make it clear that, as shown in the CBN economic report for 2023, important financial soundness indicators remained within the regulatory threshold, indicating that the Nigerian banking sector is still robust.
Additionally, in order to maintain the degree of trust in the Nigerian financial industry, the CBN is interacting with a number of important players.
“Therefore, since the report did not come from the CBN, we implore Nigerians to ignore media reports that list banks as failing the CAR stress test for international authorization,” the statement said.