Acquisition: Your money safe in banks, CBN assures Nigerians

The Central Bank of Nigeria (CBN) has assured depositors and customers of Nigerian banks of the safety of their funds in the banks.

The Acting Director, Corporate Communications Department of the CBN, Hakama Sidi-Ali, gave the assurance in a statement on Wednesday, December 27, 2023.

Sidi-Ali noted that the assurance was informed by reports about a recommendation for the Federal Government to take over some CBN-supervised financial institutions.

There have been reports about plans by the CBN to take over Titan Trust Bank (formerly Union Bank) and Keystone Bank.

This was linked to a report by the CBN Special Investigator, Jim Obazee, that the former governor of the apex bank, Godwin Emefiele, allegedly used his proxies to acquire the two financial institutions.

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Sidi-Ali, however, said: “For the avoidance of doubt, Nigerian banks remain safe and sound.

“The CBN encourages the public to continue their regular activities without being alarmed by reports that have not emanated from the CBN about the health status of Nigerian banks.

“The CBN is fully equipped to carry out its statutory duty of upholding a stable financial system in Nigeria.

“We assure the general public and depositors about the safety of their funds in Nigerian financial institutions.”

She further enjoined bank customers to proceed with their banking transactions as usual, saying there was no cause for concern.

The Star