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Nigerian banks are buoyant, CBN assures

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Ibrahim Ramalan
Ibrahim Ramalan
Ibrahim Ramalan is a graduate of Mass Communications from the Ahmadu Bello University (ABU) Zaria. With nearly a decade-long, active journalism practice, Mr Ramalan has been able to rise from a cub reporter to the exalted position of an editor; first as Arts Editor with the Blueprint Newspapers before resigning in 2019; second and presently as an Associate Editor of the Daily Nigerian online newspaper. He can be reached via ibroramalan@gmail.com, or www.facebook.com/ibrahim.ramalana, or @McRamalan on Twitter.
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The Central Bank of Nigeria, CBN, has assured the banking public that Nigerian banks are buoyant.

The CBN said this in a statement issued by its Acting Director, Corporate Communications, Hakama Sidi Ali.

Mrs Ali’s statement was informed by reports in sections of the Nigerian media that some Deposit Money Banks had failed the apex bank’s Capital Adequacy Ratio, CAR, for international authorisation.

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“We wish to clarify that the Nigerian banking industry remains resilient as key financial soundness indicators were within the regulatory threshold as captured in the CBN economic report of 2023.

“Furthermore, the CBN is engaging with various critical stakeholders to sustain the level of confidence in the Nigerian financial sector.

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“We, therefore, appeal to Nigerians to disregard media reports listing banks as failing the CAR stress test for international authorisation as the report did not emanate from the CBN,’’ she said.

NAN

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