The Chartered Institute of Bankers of Nigeria (CIBN) has firmly assured the public that the Nigerian banking sector remains stable, sound, resilient, and safe, dismissing recent media reports questioning the financial health of a commercial bank as misleading and unfounded.
In an official statement, CIBN President and Chairman of Council, Prof. Pius Olanrewaju, addressed what he described as “misleading publications” circulating in the media. The reports, he said, were aimed at casting doubt on the sector’s integrity and derailing ongoing reforms.
“We would like to emphatically state that the assertions in the purported publications are not only misleading but entirely unfounded. They are no doubt designed to disrupt the ongoing reforms and the steady progress being made to strengthen the Nigerian banking sector,” Prof. Olanrewaju said.
The CIBN reiterated its alignment with the Central Bank of Nigeria (CBN), which has also dismissed the rumors and reaffirmed confidence in the health of the nation’s financial institutions.
“The Institute aligns with the Central Bank of Nigeria in asserting that there is no cause for alarm. We urge the public to ignore false reports and rely solely on verified, official sources for information,” the statement continued.
The Institute encouraged Nigerians to continue using banking services with confidence, stressing that the banking system remains robust, with mechanisms in place to safeguard depositor funds and maintain financial system stability.
“The Nigerian banking sector remains stable, sound, resilient, and safe. Hence, we encourage you to continue to conduct your banking services without hesitation or apprehension.”
The CIBN’s statement comes amid a wave of reforms and regulatory oversight led by the CBN aimed at improving transparency, risk management, and public trust in the financial system.
