Nigerian Banks are Resilient, Safe, Says CBN as MPC Meeting Holds Monday

By James Emejo The Central Bank of Nigeria (CBN) Saturday reiterated the resilience, safety and soundness of Nigerian Deposit Money Banks (DMBs) as well as other financial institutions under its su…

The Central Bank of Nigeria Saturday reiterated the resilience, safety and soundness of Nigerian Deposit Money Banks as well as other financial institutions under its supervision.

CBN acting Director, Corporate Communications Department, Mr. Osita Nwanisobi, told journalists that the banking system had proven to be sturdy in spite of the global challenges posed by the COVID-19 pandemic. He pointed out that the central bank had continued to monitor the activities of banks in order to ensure that no individual or institution breached the laid down guidelines in line with the bank’s resolve to ensure adherence to prudential standards.

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