CBN DENIES ALLEGATION OF BANKING DISTRESS

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The Central Bank of Nigeria (CBN) has denied claims that some deposit money banks in Nigeria are “experiencing stress”, and assured the banking public of the safety of their deposits.

In a statement signed by the apex bank’s Director, Corporate Communications, Ibrahim Mu’azu, the CBN rubbished claims made by an online publication(not OrijoReporter) that some banks are distressed.

The statement reads in part: “The story as published is not only false and baseless but a figment of the writer’s imaginations.

“The CBN hereby assures the banking public that the Nigerian banking system is sound and all banks are in compliance with both the regulatory and prudential requirements.

“The Governor, on November 24, 2015, during the Monetary Policy Committee (MPC) press briefing, also made it categorically clear that no Nigerian bank is in distress.

“The CBN therefore urges all bank customers and the general public to disregard the publication as it is false, mischievous and aimed at throwing the banking public into unnecessary panic.”

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