Nigerian Banks are Resilient, Safe, Says CBN as MPC Meeting Holds Monday
By James Emejo The Central Bank of Nigeria (CBN) Saturday reiterated the resilience, safety and soundness of Nigerian Deposit Money Banks (DMBs) as well as other financial institutions under its su…
By James EmejoThe Central Bank of Nigeria (CBN) Saturday reiterated the resilience, safety and soundness of Nigerian Deposit Money Banks (DMBs) as well as other financial institutions under its supervision.The apex bank gave the assurance ahead of its Monetary Policy Committee (MPC) meeting scheduled for Monday and Tuesday.
CBN said the assurance was against the backdrop of “false and unfounded stories circulating in the social media attacking the soundness and safety of some Nigerian banks.”CBN acting Director, Corporate Communications Department, Mr. Osita Nwanisobi, told journalists that the banking system had proven to be sturdy in spite of the global challenges posed by the COVID-19 pandemic.
He said routine bank examination and stress test for financial institutions operating in the country indicated that no bank licensed by the CBN was currently under any form of financial distress.Nwanisobi further stressed that the banks had adequate capital to absorb unexpected losses that may arise. headtopics.com
He pointed out that the central bank had continued to monitor the activities of banks in order to ensure that no individual or institution breached the laid down guidelines in line with the bank’s resolve to ensure adherence to prudential standards.While also calling on the banking public to disregard any report alleging insolvency in the Nigerian banking sector, the CBN director reiterated the desire of the bank to prioritise financial inclusion as a measured approach to increase the number of adults included in financial services provided by banks in the country.
Nwanisobi, further urged the banking public to take advantage of the services provided by the banks, particularly the intervention programmes initiated by the CBN, to enhance their economic status and contribute to overall national development.The apex bank had recently reassured the banking public about the soundness and safety of the financial system.
The CBN governor, Mr. Godwin Emefiele, recently reassured the banking public of the resilience of the banking sector amidst the impact of the Covid-19 pandemic. Read more: THISDAY LIVE »
How I Sponsored Myself, Completed My Diploma, By Driving Commercial Buses In Lagos -Modinat | Punch
A female driver, Modinat Adunni, plying the Agege-Ikeja route in Lagos State shares with us what motivated her to state the transport business, her experienc...
but MTN ghana's payments services revenues dwarfs naija's biggest bank's? only 29M ppll in ghana oo Central Bank of the North
Ondo robbery: Police beef up security in banksFollowing the bloody robbery attack that occurred in Ondo State last week Thursday, where three persons were killed, security has been beefed up in banks Medicine after death... Intelligence is zero. If is to gather intelligent about protesters you all be be proactive. Meanwhile the police men sent to the banks are not free oooh😂 Banks will still pay service charge and monthly stipends to the officers.😂😂
NGX key market indices up 0.21% ahead of MPC meeting - Punch NewspapersThe most widely read newspaper in Nigeria
Remember Kanu In Prayer – IPOB Lawyer Urges Nigerians Ahead Of Monday Trial | Sahara ReportersRemember MaziNnamdiKanu In Prayer – IPOB Lawyer Urges Nigerians Ahead Of Monday Trial | Sahara Reporters MaziNnamdiKanu Urges BIAFRANS and no trial of any sort ... MaziNnamdiKanu Which prayer again MaziNnamdiKanu We don't need nigeria prayer, nig never pray themselves out finish. Abeg umuchineke let's remember MNK in prayers...
Open Grazing Bill: Delta Assembly Holds Public Hearing MondayA public hearing on a “Bill for a Law to provide for the regulation of livestock breeding, rearing and marketing and to prohibit open grazing and related
Groups urge National Assembly to reject attempts to re-present 'flawed' Water Bill'Nigerians said it when the Bill was being debated, and Nigerians are saying it again: the National Water Bill is obnoxious, ....”
DSS Warns Against Public Display Of AffluenceThe Department of State Services (DSS) has warned Nigerians on the dangers of public display of affluence, saying it is dangerous and a great security risk. Abba was there too...😁😁😁😁😁😁 Jealousy Super EFCC