Nigeria: Your Cash Is Protected in Banks, CBN Assures Depositors

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The CBN suggested financial institution clients to proceed with their banking transactions as common, as there was no trigger for concern.

The Central Financial institution of Nigeria (CBN) has assured depositors and clients of Nigerian banks of the security of their funds within the banks.

The Performing Director, Company Communications Division of the CBN, Hakama Sidi-Ali, gave the reassurance in a press release on Wednesday.

In line with Mrs Sidi-Ali, the reassurance was knowledgeable by reviews a few advice for the federal authorities to take over some CBN-supervised monetary establishments.

The Information Company of Nigeria (NAN) reviews that there have been unconfirmed reviews by some media shops about plans by the CBN to take over Titan Belief Financial institution (former Union Financial institution) and Keystone Financial institution.

That is allegedly linked to a report by Jim Obazee, CBN’s particular investigator, that former governor of the financial institution, Godwin Emefiele, used his proxies to accumulate the 2 monetary establishments.

“For the avoidance of doubt, Nigerian banks stay secure and sound.

“The CBN encourages the general public to proceed their common actions with out being alarmed by reviews that haven’t

emanated from the CBN in regards to the well being standing of Nigerian banks.

“The CBN is totally geared up to hold out its statutory responsibility of upholding a steady monetary system in Nigeria.

“We guarantee most people and depositors in regards to the security of their funds in Nigerian monetary establishments,” she stated.

She suggested financial institution clients to proceed with their banking transactions as common, as there was no trigger for concern.

(NAN)



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