Union, Keystone Banks: Depositors Funds Safe, No Cause For Alarm, CBN Assures

The Central Bank of Nigeria (CBN), on Wednesday reassured that the nation’s banks remain safe and sound, urging the public to continue their regular activities without being alarmed by reports that do not emanate from it about the health status of the country’s financial institutions.

The CBN statement by Sidi-Ali, Hakama (Mrs.), Acting Director, Corporate Communications, in reaction to media reports about a recommendation allegedly by the Jim Obazee committee probing activities of the apex bank that the Federal Government should take over Union Bank of Nigeria, and Keystone Bank Limited over alleged infractions in the transaction processes.

She avised bank customers “to proceed with their banking transactions as usual,  as there is no cause for concern.”

According to the statement, 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.”

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