The Central Bank of Nigeria (CBN) on Tuesday evening, December 26, 2023, dismissed reports in certain media outlets about a recommendation for the Federal Government to take over some CBN-supervised financial institutions.

For the avoidance of doubt, Nigerian banks remain safe and sound.

The CBN encourages the public to continue their regular activities without being alarmed by reports that have not emanated from the CBN about the health status of Nigerian banks, the apex bank said in a statement signed by the Acting Director, Corporate Communications, Sidi-Ali, Hakama (Mrs.).

The CBN is fully equipped to carry out its statutory duty of upholding a stable financial system in Nigeria.

We assure the general public and depositors about the safety of their funds in Nigerian financial institutions.

Bank customers are therefore advised to proceed with their banking transactions as usual, as there is no cause for concern, the statement further said.