The Central Bank of Nigeria (CBN) has assured Nigerians that the country’s banks are healthy and that none of them have failed the Capital Adequacy Ratio (CAR) stress test for international authorisation.
The apex bank, in a reaction by Sidi Ali, Hakama (Mrs.) Ag. Director, Corporate Communications, said that media reports listing banks as having failed the stress test should be discountenanced, as such reports did not emanate from the CBN.
The statement insisted 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,” and reassured that the CBN is, furthermore, “engaging with various critical stakeholders to sustain the level of confidence in the Nigerian financial sector.”
