CBN weighs in: Responds to attempts to misinform the banking public and reasserts its role as apex banking authority

Oct. 9, 2024 - Daily Post Nigeria

The Statement titled, “CBN Reaffirms Commitment to Financial System Stability, Safety of Depositors’ Funds” and signed by Ag. The CBN actively ensures that banks adhere to established regulations and best practices to maintain the integrity of our financial system.

The Bank’s approach to Risk-Based Supervision ensures that it focuses its regulatory efforts on institutions that may pose the highest risk to the financial system. Furthermore, the CBN has established Memoranda of Understanding with the various countries where Nigerian banks’ subsidiaries are located.

Director said, “The CBN remains dedicated to fostering a secure banking environment where depositors can be fully confident in the safety of their funds...