In response to recent media coverage suggesting that certain licensed commercial banks in Nigeria have fallen short of the Central Bank of Nigeria’s (CBN) Capital Adequacy Ratio (CAR) for international authorization, the CBN issues a statement to clarify and reassure the public.
In an official statement, Acting Director, Corporate Communications Sidi Ali Hakama (Mrs.) said the CBN emphasizes that, based on its most recent Economic Report of 2023, the Nigerian banking industry remains robust and resilient. Key financial soundness indicators are reported to be well within the regulatory thresholds set by the CBN. This information contradicts the media reports circulating claims of failing the CAR stress test for international authorization.
She added that the CBN is actively engaging with various critical stakeholders to maintain and enhance confidence in the Nigerian financial sector. The central bank is committed to fostering a secure and stable banking environment.
Hakama urged the public to dismiss the aforementioned media reports, as they are deemed inaccurate and not reflective of the CBN’s official stance. The CBN affirms that it has not released any information indicating that licensed commercial banks in Nigeria have failed the CAR stress test for international authorization.
She reiterates the soundness of the Nigerian banking industry and encourages citizens to rely on official communications from the central bank for accurate and reliable information.
