The Central Bank of Nigeria, CBN has reaffirmed that the banking industry remains resilient as key financial soundness indicators were within the regulatory thresholds as captured in its most recent Economic Report of 2023.
The assurance on Monday follows reports suggesting that some licensed commercial banks in the country had failed the CBN Capital Adequacy Ratio, CAR for international authorisation.
Furthermore, the apex bank noted that it is engaging with various critical stakeholders to sustain the level of confidence in the Nigerian financial sector.
Apex bank appealed to Nigerians to disregard the media reports listing banks as failing Capital Adequacy Ratio stress test for international authorisation as the report did not
emanate from it.
(Editor: Terverr Tyav)
