The Central Bank of Nigeria (CBN) says there is no reason to fear, categorically stating that Heritage Bank and all Nigerian commercial banks are safe for banking.
In a statement signed by Isaac Okorafor, CBN acting director of corporate communications, the apex bank said “the attention of the Central Bank of Nigeria (CBN) has been drawn to false and malicious stories on the social media insinuating that Heritage Bank is under financial distress and therefore unable to discharge its obligations to its depositors.
“We wish to state that Heritage Bank is not in distress and as such its depositors should go about their transactions without fear. For the avoidance of doubt, we wish to further state that no Nigerian Bank is in distress.
“The CBN, as the industry regulator, has a duty to depositors, in particular, and the economy, in general, to ensure the soundness of all financial institutions.”
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The CBN further assured Nigerians “of the safety of their deposits”.
“The CBN also wishes to state that it will remain alive to its responsibility of ensuring banking system stability and soundness through constant monitoring and supervision of all licensed institutions.
“The Central Bank of Nigeria wishes to reiterate that the banking system remains resilient enough to weather the current economic storm.”
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Skye Bank of Nigeria was in similar situation, only a few months ago, but has remained relatively stable at the Nigerian Stock Exchange, where it stock initially fell to record lows.
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