The Central Bank of Nigeria (CBN) has refuted claims suggesting the revocation of licenses for Fidelity, Wema, Polaris, and Unity Banks. Mrs Hakama Sidi Ali, the acting Director of the Corporate Communications Department, issued this clarification in a statement on Monday.
Earlier, a circular circulated on Monday implied that the apex bank had dissolved the boards of three banks shortly after revoking Heritage Bank’s license. However, the CBN spokesperson dismissed these claims as false.
CBN reiterated its commitment to ensuring the safety of deposits and the resilience of the banking system. Mrs Ali emphasized the stability of the Nigerian banking industry, affirming that key financial indicators remain within regulatory thresholds.
“Without prejudice to the ongoing recapitalization process, I want to restate that the Nigerian banking industry remains resilient,” Mrs Ali stated. “Customers are, therefore, encouraged to proceed with their transactions as usual.”
In response to concerns raised after the withdrawal of Heritage Bank’s license on June 3, the Nigerian Deposit Insurance Corporation (NDIC) assured depositors of Heritage Bank that it had initiated the process of reimbursing their funds.
Starting an ice cream venture in Nigeria presents strong profit potential for entrepreneurs who can…
May 19, 2026 – There is a “say-do gap” in Brand and Performance Advertising: most…
The Federal Government of Nigeria has arraigned Saipem Contracting Nigeria Limited and two of its…
A growing digital dependency is redefining everyday survival in Nigeria, where access to mobile data/mobile…
Guinness has ranked Nigeria as its third-largest market worldwide, reinforcing the country’s growing importance to…
Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings and a member of Standard Bank…
This website uses cookies.