CBN to Nigerians, Ignore reports that banks failed stress test

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The Central Bank of Nigeria’s most recent Economic Report for 2023, noted that the country’s banking sector remains resilient and that key financial soundness indicators were within the regulatory thresholds.

The apex bank urged Nigerians to disregard reports that some licensed commercial banks in the country had failed the Capital Adequacy Ratio stress test for international authorisation.

This was contained in a statement released on its website on Monday, December 11 and signed by its spokesperson, Ali Sidi Ali.

The post read: “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 CBN assured Nigerians that it is engaging with various critical stakeholders to sustain the level of confidence in the Nigerian financial sector.

“We appeal to Nigerians to disregard the media report listing banks as failing the Capital Adequacy Ratio stress test for international authorisation as the report did not emanate from the Central Bank of Nigeria,” the statement added.

 

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Queen Ferry
Queen Ferry
Chinyere Treasure Ikechukwu also known as Queen Ferry, is a Nigerian business Executive, social media savvy Journalist and Content Editor with over seven years experience. She serves as the Vice-Chairman of Naijatraffic Limited. If Treasure is not researching/blogging, she will be making delicious delicacy.

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