The
Central Bank of Nigeria, CBN, said yesterday that no bank in the country was
distressed.
CBN, in a statement by acting Director, Corporate Communications,
Mr. Isaac Okorafor, said the infusion of a new Board and management for Skye
Bank Plc was a proactive step to ensure the bank remained strong.
The
statement read: ‘’The attention of the Central Bank of Nigeria (CBN) has been drawn
to malicious rumours and unfounded speculations that some banks in the country
may have gone or may be going into distress.
‘’The
CBN wishes to reiterate in the strongest terms that these rumours and
speculations are untrue and do not reflect the actual health of the individual
banks and, indeed, the entire banking industry.
‘’For
the avoidance of doubt, the infusion of a new Board and Management for Skye
Bank Plc is a proactive regulatory action meant to ensure that thebank does not
continue to fail in its relevant prudential ratios. ”Neither Skye Bank nor any
other bank in the industry is in distress.
‘’Therefore,
the CBN would like to request the general public to ignore speculations or
rumours to the contrary as theycould only be the handiwork of mischief makers,
who do not mean well for the Nigerian banking system and its economy.
‘’As
the regulator of the industry, the CBN hereby reassures the banking and general
public that their deposits remain safe in any Nigerian bank.
‘’There is, therefore, no need for panic
withdrawals from any bank. Going by both the CBN’s Examination Reports as well
as analysis from market watchers, International Credit Rating Agencies, and
Development Finance Institutions, the Nigerian banking industry remains strong,
in spite of the global economic challenges emanating from the collapse of
global commodity prices.
‘’We,
therefore, urge the banking public to remain calm and go about their normal
businesses without panic. It is important that we do not create problems when
none exists.’’
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