27th December, 2023
By Kadiri Abdulrahman
The Central Bank of Nigeria (CBN) has assured depositors and customers of Titan Trust Bank (former Union Bank) and Keystone Bank of the safety of their funds in the banks.
The apex bank gave the assurance following reports about alleged plans by the Federal Government to take over Titan Trust Bank (former Union Bank) and Keystone Bank on some media platforms
The alleged takeover bid was linked to a report by Mr Jim Obazee, CBN’s special investigator, that former governor of the apex bank, Mr Godwin Emefiele, used his proxies to acquire the two financial institutions.
But CBN Acting Director, Corporate Communications Department of the CBN, Mrs Hakama Sidi-Ali, in a statement on Wednesday urged depositors not to panic over the reports.
According to Sidi-Ali, the assurance was informed by reports about a recommendation for the Federal Government to take over some CBN-supervised financial institutions.
“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 public and depositors about the safety of their funds in Nigerian financial institutions,” she said.
She advised bank customers to proceed with their banking transactions as usual, as there was no cause for concern. (NAN)