CBN Reacts to safety of deposited funds amid allegations of illegal withdrawals

The Central Bank of Nigeria (CBN) has restated its commitment to safeguard the funds of depositors across the country.

The apex bank has further assured depositors and customers of Nigerian banks of the safety of their funds in the banks.

The Acting Director, Corporate Communications Department of the CBN, Hakama Sidi-Ali, gave the assurance in a statement on Wednesday.

According to Mrs 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,” shame said.

“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 general public and depositors about the safety of their funds in Nigerian financial institutions,” she added.

She advised bank customers to proceed with their banking transactions as usual, as there was no cause for concern.

The statement is coming few days after CBN investigator, Jim Obaze, alleged that there were some illegal withdrawal of funds from the apex bank under the leadership of Godwin Emefiele.