Central Bank of Nigeria says Nigerian banks remain resilient, stressing that enough naira notes are in circulation amid reports of scarcity of banknotes.
This is coming amid a series of complaints by some bank customers concerning the scarcity of Naira notes at bank counters, Automated Teller Machines, Points of Sale, and Bureaux de Change.
CBN Acting Director of the Corporate Communications Department, Mrs Sidi Ali, gave this assurance in a statement on Monday.
The statement read, “We wish to clarify that the Nigerian banking industry remains resilient as key financial soundness indicators were within the regulatory thresholds as captured in the CBN’s most recent economic report of 2023.”
The CBN assured Nigerians that it is engaging with various critical stakeholders to sustain the level of confidence in the Nigerian financial sector.
“This assurance comes in response to reports in some media outlets suggesting that some licensed commercial banks in the country had failed the CBN’s Capital Adequacy Ratio for international authorisation.”
The CBN appealed to Nigerians to disregard the media reports listing banks as failing the CAR stress test for international authorisation as the report did not emanate from the Central Bank of Nigeria.
The statement added, “We appeal to Nigerians to disregard the media report listing banks as failing the Capital Adequacy Ratio stress test for international authorisation as the report did not emanate from the Central Bank of Nigeria.”