The Central Bank of Nigeria on Monday dismissed reports alleging that some licensed commercial banks in the country failed to meet the Capital Adequacy Ratio, (CAR).
A statement by the bank’s spokesperson, Sidi Hakama, said that key financial soundness indicators which reflect the stability and resilience of the sector, as detailed in its most recent Economic Report of 2023, remain well within the regulatory thresholds.
The adequacy ratio offers a swift assessment of whether a bank holds sufficient funds to offset potential losses and maintain solvency amid challenging financial conditions.
