The Central Bank of Nigeria (CBN) has assured Nigerians that the country’s banking sector remains resilient, safe, and sound, amid recent publications and social media reports suggesting instability within a regulated financial institution.
In a statement issued on Sunday, May 19, 2025, and signed by Hakama Sidi Ali, the Acting Director of Corporate Communications, the apex bank described the reports as misleading and sensational, calling on the public to rely on official information channels.
“The CBN wishes to categorically reassure the public, depositors, and stakeholders that the Nigerian banking sector remains resilient, safe, and sound,” the statement read.
While not naming the specific institution referenced in the circulating reports, the bank clarified that all regulated financial institutions are subject to stringent regulatory requirements, and that there is no cause for concern regarding the safety of depositors’ funds.
The CBN emphasized that it continues to monitor the entire financial system through robust frameworks for early warning signals and risk-based supervision, noting that these mechanisms are in place to swiftly address any emerging issues and protect the integrity of the financial system.
“We urge the public to disregard sensational or unverified claims and rely solely on official channels for information about the financial system,” the apex bank added.
