The Central Bank of Nigeria (CBN) has debunked reports that commercial banks had failed its Capital Adequacy Ratio (CAR) for international authorisation.
The apex bank disclosed this in a statement issued on Monday, signed by Ag. Director, Corporate Communications, Mrs Sidi Ali, Hakama.
The apex bank appealed to Nigerians to disregard the reports listing banks as failing, adding that the reports did not emanate from the CBN.
The statement partly read: “The attention of the Central Bank of Nigeria (CBN) has been drawn to reports in some media outlets suggesting that some licensed commercial banks in the country had failed the CBN’s Capital Adequacy Ratio (CAR) for international authorisation.
“We wish to clarify that the Nigerian banking industry remains resilient as key financial soundness indicators were within the regulatory thresholds as captured in the CBN’s most recent Economic Report of 2023.”
The banker’s bank, however, stated that it was engaging with various critical stakeholders to sustain the level of confidence in the Nigerian financial sector.
“We, therefore, appeal to Nigerians to disregard the media reports listing banks as failing the Capital Adequacy Ratio (CAR) stress test for international authorisation as the report did not emanate from the Central Bank of Nigeria (CBN).”
Madukwe B. Nwabuisi is an accomplished journalist renown for his fearless reporting style and extensive expertise in the field. He is an investigative journalist, who has established himself as a kamikaze reporter.
