The Central Bank of Nigeria (CBN) has moved to reassure MSMEs, depositors, and the wider public that the country’s banking sector remains stable, resilient, and secure, despite recent rumours and misleading reports circulating online.
In a statement issued by the Acting Director of the Corporate Communications Department, the apex bank addressed growing concerns triggered by social media speculation about the operations of a specific financial institution under its regulatory oversight.
The CBN stressed that the institution in question, like all other regulated entities in the banking sector, operates under strict regulatory standards and continues to meet its obligations. It reaffirmed that depositors’ funds remain safe and there is no reason for alarm.
“The Nigerian banking sector remains resilient, safe and sound,” the statement said, calling on the public to dismiss sensational or unverified claims and to rely solely on official channels for accurate updates.
The Bank also highlighted its continuous use of risk-based supervision and early warning mechanisms to track and address any potential threats within the financial system. These frameworks are designed to detect and manage risks before they escalate, preserving financial stability.
For MSMEs in particular, who are often sensitive to disruptions in banking confidence, the reassurance offers some relief. Many rely on daily transactions, loans, and digital banking services to run their operations. Any panic about banking security could easily disrupt business activities.
The CBN reiterated its commitment to safeguarding the financial interests of all Nigerians and supporting a robust banking environment where trust, stability, and access to financial services are guaranteed.
It concluded by encouraging Nigerians, especially business owners and stakeholders to remain calm, avoid the spread of unverified claims, and trust the strength of the nation’s banking oversight.
