The Central Bank of Nigeria has stated that it is not planning to revoke the operating licenses of Fidelity Bank, Wema Bank, Polaris Bank and Unity Bank
This is contained in a statement which is coming amid rumours that some banks are set to be shut down in Nigeria, leaving customers in fear of losing their savings.
Acting Director of Corporate Communications of the Apex bank, Mrs. Hakama Sidi Ali, noted that a circular issued by CBN on January 10, 2024, notifying the public about the dissolution of the Boards of Union, Keystone, and Polaris Banks, was being re-circulated as though it was issued on June 10, 2024.
She maintained that the defunct Heritage Bank was an isolated case, adding that allegations of further revocation of licences prior to the completion of the bank recapitalisation exercise were mere fabrications of those who didn’t wish the banking sector well.
She also emphasized that the CBN, with its regulatory framework, was proactively ensuring the stability of Nigeria’s financial system, thereby guaranteeing the safety of depositors’ funds in all Nigerian financial institutions.
“Without prejudice to the ongoing recapitalisation process, I want to restate that the Nigerian banking industry remains resilient. Key financial soundness indicators remain within current regulatory thresholds.
“Customers are, therefore, encouraged to proceed with their transactions as usual, as the CBN is committed to ensuring the safety of the banking system.” She added.
