The Central Bank of Nigeria refutes reports suggesting distress in certain Nigerian banks.

The Central Bank of Nigeria refutes claims suggesting distress in certain commercial banks within the country. Recent reports from various news platforms asserted that specific banks did not meet the Capital Adequacy Ratio (CAR) stress test required for international authorization.

In an official statement issued on December 11, the central bank asserted that these allegations are unfounded. According to the apex bank, Nigerian banks continue to demonstrate resilience, with crucial financial soundness indicators well within the regulatory limits as outlined in the CBN’s latest Economic report for 2023.

Read the statement below