Despite recent allegations, the Central Bank of Nigeria (CBN) has reassured the public that the nation's banking industry remains robust and healthy.

The apex bank responded to what it called "misleading information" about the activities of a licensed financial institution that was circulating in some periodicals and on social media on Monday, in a statement released by its Acting Director of Corporate Communications, Hakama Ali.

The Bank reiterated its dedication to closely monitoring all financial institutions under its control using strong frameworks such as risk-based oversight and early warning systems, to quickly identify and resolve any emerging problems.

It advised the public to rely on official sources for factual information about the financial system and to disregard sensational or unsubstantiated reports.

“The CBN wishes to categorically reassure the public, depositors, and stakeholders that the Nigerian banking sector remains resilient, safe, and sound. Like all other regulated institutions, the institution referenced in these reports is held to stringent regulatory requirements, and there is no cause for concern regarding the safety of depositors’ funds.

“The Bank affirms that it continues to monitor all financial institutions under its regulatory purview and maintains robust frameworks for early warning signals and risk-based supervision. These mechanisms ensure that any emerging issues are promptly addressed to protect the integrity of the financial system.

“We urge the public to disregard sensational or unverified claims and rely solely on official channels for information about the financial system.

“The CBN remains dedicated to fostering a secure banking environment where depositors can be fully confident in the safety of their funds. It will continue to monitor and adapt strategies to safeguard the financial interests of all Nigerians and stakeholders in our financial system,” the statement read.