Politics
Just In: CBN Encourages Nigerians To Disregard Claims Of Banks Failing Stress Tests (See Details)
The Central Bank of Nigeria has emphasized that the Nigerian banking industry remains robust, with key financial soundness indicators staying within regulatory thresholds, as outlined in the CBN’s latest Economic Report of 2023. In response to media reports suggesting that some banks failed the Capital Adequacy Ratio stress test for international authorization, the CBN has urged Nigerians to dismiss these claims…CONTINUE READING....KINDLY READ THE FULL STORY HERE▶

In a statement released on December 11, 2023, and signed by its spokesperson, Ali Sidi Ali, the CBN clarified that it is actively engaging with critical stakeholders to uphold confidence in the Nigerian financial sector. The apex bank reassured the public that the industry is resilient, and reports of banks failing the CAR stress test did not originate from the Central Bank of Nigeria.
“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 statement affirmed.
The CBN appealed to Nigerians to disregard media reports indicating that certain banks failed the CAR stress test for international authorization, emphasizing that such reports were not issued by the Central Bank of Nigeria.
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