CBN Assures That Nigerian Banks Remain Resilient

Dec. 11, 2023

The Central Bank of Nigeria (CBN) has assured  Nigerians that the Nigerian banking industry remains resilient as
key financial soundness indicators were within the regulatory thresholds as
captured in the apex bank’s most recent Economic Report of 2023.

In a statement on Monday by Sidi Ali, Hakama, Ag. Director, Corporate Communications of the CBN, the bank noted that its attention has been drawn to reports in some media outlets suggesting that some licensed commercial banks in the country had failed the CBN’s Capital Adequacy Ratio (CAR) for international authorisation.

“Furthermore, the CBN is engaging with various critical stakeholders to
sustain the level of confidence in the Nigerian financial sector.

“We, therefore, appeal to Nigerians to disregard the media reports listing
banks as failing the Capital Adequacy Ratio (CAR) stress test for
international authorisation as the report did not emanate from the CBN.