No Bank Is Closing Down–CIBN

Following some reports that some banks will be closed down and the rebuttal by the Central Bank of Nigeria, the Chartered Institute of Bankers of Nigeria (CIBN) joined the apex bank in denying the rumours, reassuring that the banking industry in Nigeria remains very sound and safe.

The institute while noting that the apex bank had debunked the insinuation that it plans to shut down some deposit money banks, said the soundness of the banking industry has been reaffirmed severally by the Central Bank of Nigeria (CBN), “which is the only body best suited to assess the health of the financial industry in Nigeria.

“We equally like to allay the fears around the shortage of materials for printing the new naira notes, which the CBN has also discredited. This has also been debunked in a widely circulated press release by the Nigeria Security Printing and Minting (NSPM) Company, which described the story as false, baseless and misleading.”

NSPM  in a statement at the weekend had assured that it “has made adequate arrangement to continuously produce redesigned naira notes as well as other denominations”.

President of the council of the CIBN, Ken Okpara said “consequently, we implore the public to disregard any contrary information as the entire banking community remains focused, committed, and working round the clock to address all the contending issues with a view to restoring normalcy.

“We indeed appreciate your continued patience and understanding as we work together towards building the Nigeria of our dream.”