The Chartered Institute of Bankers of Nigeria (CIBN) has dispelled fears of bank liquidations stating that the banking system is “safe, sound and resilient.”
Prof. Pius Olanrewaju, the President/Chairman of Council, CIBN, in a statement assured Nigerians and put to rest the rumour that the licence of more banks will revoked following the regulatory action taken by the Central Bank of Nigeria (CBN) against Heritage Bank Plc on June 3.
“We would like to allay the fears of bank customers and the general public that the assertion is false and misleading.
“The Central Bank of Nigeria (CBN) and the Nigeria Deposit Insurance Corporation (NDIC) have debunked the claim,” he stated.
He added that the aim of the ongoing recapitalisation announced by the CBN is to strengthen the resilience of banks and their capacity to support the growth of the Nigerian economy.
“Consequently, we urge the public to continue conducting their banking services without hesitation or apprehension,” Olanrewaju said.
He stated that the CIBN is committed to enhancing best practices by ensuring that the banking sector stays safe and solid while partnering with other stakeholders in the ecosystem.