The Central Bank of Nigeria (CBN) has affirmed the resilience of the Nigerian banking industry, emphasizing that key financial soundness indicators are well within regulatory thresholds.
This clarification comes in response to recent media reports suggesting that some licensed commercial banks in the country had failed the CBN’s Capital Adequacy Ratio (CAR) for international authorization.
In a statement signed by Sidi Ali Hakama, the acting director of corporate communications, the CBN sought to dispel any concerns arising from the media reports.
The statement highlighted that the most recent Economic Report of 2023 showcased the industry’s robust performance with financial soundness indicators complying with regulatory standards.
The CBN acknowledged its ongoing engagement with critical stakeholders to foster confidence in the Nigerian financial sector, underscoring its commitment to sustaining a stable and resilient banking environment.
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