The Central Bank of Nigeria, has reacted to the report in some sections of the media that some licensed commercial banks in the country didn’t meet up the CBN Capital Adequacy Ratio (CAR) for international authorisation.
The CBN in a press release issued on Monday, said the report isn’t true, assuring that the Nigerian banks remain 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 which was signed by Sidi Ali, Hakama (Mrs.) Ag. Director, Corporate Communications, called on the public to disregard any statement to the contrary.
The statement reads:
“The attention of the Central Bank of Nigeria (CBN) has been drawn to reports in some media outlets suggesting that some licensed commercial banks in the country had failed the CBN’s Capital Adequacy Ratio (CAR) for international authorisation.
“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.
“Furthermore, the CBN is engaging with various critical stakeholders to sustain the level of confidence in the Nigerian financial sector.
“We, therefore, appeal to Nigerians to disregard the media reports listing banks as failing the Capital Adequacy Ratio (CAR) stress test for international authorisation as the report did not emanate from the Central Bank of Nigeria (CBN).”
