Nigeria’s banking system has proven to be stable and resistant to the challenges that were brought about by the global health crisis and that the stress tests and other routine examinations have reaffirmed that the none of the banks licensed by the CBN are under any form of financial distress.
He added that the apex bank has continued to monitor the activities of the financial service providers in the West African nation in order to ensure that the guidelines laid down have not been breached. Therefore, he urged the public to take advantage of the services, particularly those intervention programmes initiated by the CBN, that were designed to strengthen overall national development.
Echoing these views, CBN Governor Godwin Emefiele pointed to recent statistics to reassert the fact that the Nigerian banking system remains “very strong and resilient”. “Our prudential ratio has been prescribed for the banks and they are required to ensure that they abide by those prudential ratios – for instance, the non-performing loans ratio, the capital adequacy ratio, and the liquidity ratio,” he said.
According to the Governor, the recent statistics have…
