Nigerian Banks Are Safe -CBN

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The Central Bank of Nigeria (CBN) has re-assured that Nigerian banks are safe, after the conclusion of a stress test it conducted.

According to a statement signed by the Director of Corporate Communications of the CBN, Ibrahim Mu’azu and made available to newsmen on Sunday in Abuja.

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“Following the recent top-down stress tests of Deposit Money Banks carried out; the CBN re-affirms that the banks have adequate capital to absorb unexpected losses,”

It stressed that the unaudited results of banks and the results released so far indicated that the economic meltdown had not significantly affected returns.

The statement continues that the apex bank would continue to monitor banks to ensure sufficient internal retention of capital to serve as buffers.

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