Skip to main content

CBN says no Nigerian bank in distress

The Central Bank of Nigeria, CBN, on Wednesday, said that no bank in the country was distressed.

The CBN in a statement issued by Mr Isaac Okorafor, the acting Director, Corporate Communications, said the replacement of Skye Bank’s board and management was “a proactive regulatory action” to ensure the bank remained strong.

Read the full statement below:

“The attention of the Central Bank of Nigeria (CBN) has been drawn to malicious rumours and unfounded speculations that some banks in the country may have gone or may be going into distress.

“The CBN wishes to reiterate in the strongest terms that these rumours and speculations are untrue and do not reflect the actual health of the individual banks and, indeed, the entire banking industry.

“For the avoidance of doubt, the infusion of a new Board and Management for Skye Bank Plc is a proactive regulatory action meant to ensure that the bank does not continue to fail in its relevant prudential ratios.

“Neither Skye Bank nor any other bank in the industry is in distress.

“Therefore, the CBN would like to request the general public to ignore speculations or rumours to the contrary as theycould only be the handiwork of mischief makers, who do not mean well for the Nigerian banking system and its economy.

“As the regulator of the industry, the CBN hereby reassures the banking and general public that their deposits remain safe in any Nigerian bank.

“There is, therefore, no need for panic withdrawals from any bank. Going by both the CBN’s Examination Reports as well as analysis from market watchers, International Credit Rating Agencies, and Development Finance Institutions, the Nigerian banking industry remains strong, in spite of the global economic challenges emanating from the collapse of global commodity prices.

“We, therefore, urge the banking public to remain calm and go about their normal businesses without panic. It is important that we do not create problems when none exists.”

Labels:

Comments

Post a Comment

Popular posts from this blog

Court grants Fani-Kayode N50m bail

Fani-kayode sandwiched by EFCC officials Justice James Tsoho of the Federal High Court Abuja on Thursday granted a N50m bail to former spokesman of the Goodluck Jonathan Campaign Organisation, Chief Femi Fani-Kayode. Fani-Kayode was arraigned by the Economic and Financial Crimes Commission (EFCC) on a five-count charge of money laundering to the tune of N26m. Fani-Kayode is the sole defendant in the fresh charges numbered, FHC/ABJ/CR/140/2016. The EFCC accused the defendant of diverting 26 million Naira allegedly received from the ONSA while Sambo Dasuki was in office. The anti-graft agency also accused him of handling the said N26 million without going through financial institution as required under the Money Laundering Act. The embattled former minister is already facing 17-count charge of money laundering before the Lagos Division of the court, along with a former Finance Minister; Nenadi Usman, Danjuma Yusuf and a firm; Joint Trust Dimension Nigeria Limited. They were charg...
Post a Comment
Read more

Pope not involved in Colombian peace deal- Vatican

Pope Francis Pope Francis has turned down a request to play a role in the peace deal between the Colombian government and the Revolutionary Armed Forces of Colombia (FARC) rebel group. The Vatican in a statement issued on Wednesday in in Vatican City said that an invitation was sent to his Holiness in early August to appoint a representative to participate in the committee that selected the judges for the talks. The statement said that though Pope Francis supported the peace process, he, however, reiterated that he would not get involved in Colombian peace deal. It said that Pope was praying for the enlightenment of the hearts and minds of those who were called to promote the common good of the Colombian nation. A deal was announced last week, putting an end to five decades of internal conflict between government forces and the FARC rebels. The agreement, which needed to be ratified through a referendum in Oct. 2, would entail setting up a special court to grant amnesties or pu...
Post a Comment
Read more

Man docked for defiling 9-year-old girl

magistrate-court A 33-year-old man, Godwin Otobo, was on Monday docked at a Surulere Chief Magistrates’ Court in Lagos.For allegedly defiling a nine-year-old girl, ‎Otobo, who lives at No. 10, Borrow Pit St., Sangotedo-Ajah area of Lagos, was said to have defiled the underage girl whose parents also reside in the same compound. The Prosecutor, Sgt. Anthonia Osayande, told the court that the accused committed the offence at about 9.00 p.m. sometimes in September. “The accused defiled the girl in the night when she was fetching water.‎ “The offence contravened Section 137 of the Criminal Law of Lagos State, 2011,’’ Osayande told the court. The accused pleaded not guilty to the one-count charge of defilement. Ruling on a bail application filed by the accused, Chief Magistrate Ipaye Nwachukwu, granted him bail in the sum of N500,000 with two sureties in like sum. She said one of the sureties must be a property owner in Lagos State, while the other must be a civil servant on grade...
Post a Comment
Read more