The Central Bank of Nigeria (CBN) has reassured the public that the Nigerian banking industry remains resilient, with key financial soundness indicators well within regulatory thresholds.
In response to media reports suggesting that some banks failed the Capital Adequacy Ratio (CAR) stress test for international authorization, the CBN has urged Nigerians to disregard such reports.
The clarification was provided in a statement signed by the CBN spokesperson, Ali Sidi Ali, and posted on the bank’s website on December 11, 2023.
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The statement emphasized that the banking industry’s strength is evident in the most recent Economic Report of 2023, and key financial indicators align with regulatory standards.
The CBN is actively engaging with various stakeholders to maintain confidence in the Nigerian financial sector.
The central bank appealed to the public to dismiss media reports listing banks as failing the CAR stress test for international authorization, clarifying that such reports did not originate from the Central Bank of Nigeria.
This assurance aims to dispel any concerns and reinforce confidence in the stability and soundness of the Nigerian banking sector.
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