CBN allays fears, insists Nigerian banks still safe, sound, healthy

CBN allays fears, insists Nigerian banks still safe, sound, healthy

The Governor, Central Bank of Nigeria, CBN, Dr. Godwin Emefiele, has allayed the fears of Nigerians on the health of banks in the country, assuring that they were sound, healthy and safe.

THECONSCIENCEng reports that Emefiele gave the assurance during a two-day fair organized simultaneously by the apex bank in Makurdi, Benue State, and Lafia, the Narasawa State capital  yesterday, with the theme “Promoting Financial Stability and Economic Development.”

Represented by the Director Corporate Communications Department of the Bank, Mr. Osita Nwanisobi, the CBN governor urged Nigerians to shun any report on social media platforms suggesting that some banks were not healthy assuring that the reports were not true.

The Governor said, “the bank you go to put your money is sound. The Central Bank of Nigeria oversights these institutions and we are sure that they are very sound and safe for you to keep your money. “So when you start hearing something online about one bank or the other disregard it. The CBN is on top of the game.”

Dr. Emefiele in an overview of the fair, explained that seminar presentations would be made on five key topics, including Consumer Protection, Currency Operations, Payments System Management, Development Finance and the eNaira Presentation.

He said the fair was aimed at informing the public about the services and policies of the apex bank and also get feedback from the public on such services and policies as well as issues affecting customers and their commercial banks.

“It is to hear from you about our services. What are the challenges that you encounter on a daily basis and how does your bank treat you and most importantly to hear from you on CBN interventions and policies.

“What are the issues or pain points if any. We wIll be talking more or less giving you information on what we do and you can also ask any kind of questions on issues that are agitating your minds.

“We will also be hearing about the developmental financing initiative of the CBN. We all know that the days are gone when we finish from school and we all carry our certificate looking for jobs.”

“But we must realize that the world is evolving. And today we are looking at who are the creative individuals who might even be in school and still be able to tinker around certain things he can do.

“The CBN recognizes that one of the major problems that you have, maybe access to finance because you might have all the idea, but if you go to any institution for credit, the first thing they will ask is collateral.”

 And you wonder how you can get that when you are just leaving school or still in school.

“The CBN is saying there are certain products that you can leverage to effectuate those ideas that you have. So development finance are initiatives of the CBN. We will be speaking to those needs,’’ he said.

Dr. Emefiele, who urged Nigerians to embrace the eNaira, said “we need to be at pace with where the world is moving.

‘’Nigerian incidentally is the first country in Africa that has launched the Central Bank Digital Currency, CBDC, and that is the eNaira; we should all embrace it. The CBN is committed to ensuring that more people in the country are financially included.”