The Central Bank of Nigeria (CBN) has dismissed rumors of plans to revoke the operating licenses of Fidelity, Wema, Polaris, and Unity Banks. According to the Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, the rumors are false and aimed at creating panic in the system.
Mrs. Sidi Ali clarified that a circular issued on January 10, 2024, regarding the dissolution of the Boards of Union, Keystone, and Polaris Banks, was being recirculated as if it were issued on June 10, 2024. She assured the public that the banking system is resilient and that customers’ deposits are safe.
“The Nigerian banking industry remains resilient. Key financial soundness indicators remain within current regulatory thresholds. Customers are, therefore, encouraged to proceed with their transactions as usual, as the CBN is committed to ensuring the safety of the banking system,” she said.
