The Central Bank of Nigeria (CBN) asserts the resilience of Nigerian banks, as confirmed by Mrs. Sidi Ali, the Acting Director of the Corporate Communications Department.
She clarified that media reports suggesting some banks failed the CBN’s Capital Adequacy Ratio (CAR) for international authorization are inaccurate.
Emphasizing the industry’s strength, she pointed to key financial indicators within regulatory thresholds, as outlined in the CBN’s latest Economic Report of 2023.
The CBN is actively collaborating with stakeholders to bolster confidence in the Nigerian financial sector, urging the public to dismiss reports of banks failing CAR stress tests, as they did not originate from the CBN.
